Brookfield Asset Management has moved their HQ out of Canada to Trump's hometown of New York City. Mark Carney claimed that the decision was made after he resigned from the board, knowing that he was running for the Liberal Party Leadership. Now, Conservative MP Michael Barrett has called that out as a complete lie.
00:00:00.000It's a day ending in Y, so Mark Carney's liberal leadership campaign has another scandal on its hands, this time regarding the company that Mark Carney sat on the board of for many years, Brookfield Asset Management.
00:00:14.980This is a company that recently had moved its headquarters from Toronto to New York City, but it totally didn't have anything to do with Mark Carney. He claimed that this all happened after he resigned from the board, knowing that he may run for the Liberal Party leadership and become the next Prime Minister of Canada.
00:00:36.560Well, Michael Barrett, the Conservative MP, has basically showed that this is complete nonsense. He says,
00:00:44.380Breaking, Carney lied. Carney was chair of Brookfield board when they unanimously voted to move their headquarters out of Canada to New York City, Trump's hometown.
00:00:55.280Here's a letter he wrote to shareholders urging them to approve the move on December 1st, 2024. Mark Carney can't be trusted. If Carney wins, Canada loses.
00:01:04.980What's so funny about the December 1st date as well is I guarantee you by this point he knows that Justin Trudeau has a very good chance of being replaced as the leader and he is going to run for it.
00:01:18.680If he had advised this back in 2019, 2020, 2021, maybe I would get it. He didn't have many close associations with Trudeau government at this point. He had just started advising them.
00:01:31.560He doesn't look bad because he's identifying that the Canadian economy is bad and he's going to move his company's board to a different jurisdiction.
00:01:42.120This is four years, more than four years, into him advising Justin Trudeau on Canada's economy.
00:01:48.900He realizes that he's made things worse and now he's going to take Brookfield Asset Management from Toronto to New York City.
00:01:56.260I'm going to read the parts of this letter that have been highlighted in just a second.
00:02:00.800Then I want to cut to what Mr. Poliev has said as well as Michael Barrett in a press conference this morning.
00:02:07.700But before I get into it, guys, remember to like this video, subscribe to the channel, leave a comment.
00:02:13.480Do you think Mark Carney is actually going to be able to win the Liberal Party leadership race at this rate?
00:02:18.280And how do you think this is going to actually play with the average Canadian?
00:02:23.320I think there is a chance that maybe this is a very complicated issue and a lot of Canadians don't really want to hear about it.
00:02:28.980But I think most people are going to look at this and say, this guy's like Michael Ignatieff on steroids.
00:02:35.460He lived in London for a long time and then he moved his company to the US.
00:02:40.180Complete hypocrite and moved his company recently.
00:02:42.600Anyways, reading the highlighted sections here for you guys.
00:02:55.480We believe, however, that there is more we can do to broaden our shareholder base and gain access to the deepest pool of capital.
00:03:02.600The most common feedback that we hear from investors encourage us to position Brookfield Asset Management for inclusion in some of the most widely followed global large cap stock indices, including the US.
00:03:20.820The board, based on, among the other things, the recommendations of the GNCC unanimously determined that the arrangement is in the best interest of BAM and unanimously approve the arrangement.
00:03:36.460Accordingly, the board unanimously recommends that shareholders vote for the arrangement resolution at the meeting.
00:03:43.920So, Mark Carney isn't just the man penning this letter.
00:04:24.840And right when he knows he's probably going to be running for leader, he's been running a shadow campaign to become leader for about a year now.
00:04:36.520Pierre Pauly of the leader of the Federal Conservatives.
00:04:39.200He, in response to Michael Barrett, had said, Mark Carney said he had nothing to do with Brookfield moving their HQ out of Canada to Trump's hometown of New York City.
00:04:48.960Documents show he chaired the board meeting that unanimously determined the move, taking jobs away from Canadians.
00:04:54.820His name is on the letter urging shareholders to approve the move.
00:04:58.700Why did Mark Carney lie about this decision to sell out Canadian jobs?
00:05:02.520And the thing is, normally I would say, hey, if the Canadian economy isn't good for your company or you have better opportunities elsewhere, I can't tell you not to stay.
00:05:12.980But you can't be Mark Carney and be this kind of raw, raw Canadian guy who is demonizing Donald Trump in the United States and then move to the United States where the economy is far better.
00:05:26.000Anyways, here is Michael Barrett today presenting this evidence in Parliament.
00:05:33.200But, you know, in the parliamentary halls.
00:05:35.380Last night, Mark Carney lied to Canadians.
00:05:38.420He lied to Canadians, saying that his company, Brookfield Asset Management, only moved their headquarters from Canada to Donald Trump's hometown of New York City after he had resigned from the board.
00:05:55.840We all know that Brookfield made that announcement on October the 31st, proving that Mr. Carney was lying to Canadians.
00:06:06.280But this morning, we can share with you a letter signed by Mark Carney on December the 1st.
00:06:17.020Now, this is days after, just days after Donald Trump had threatened Canada for the first time with unjustified tariffs.
00:06:25.940Now, this letter says that the decision by the board, of which Mark Carney at that time was chair, was unanimous to move the headquarters and Canadian jobs to Donald Trump's hometown of New York City.
00:06:43.240And the letter implores shareholders, urges them to support the move.
00:06:49.900And I think this is going to be one of the biggest hits on Mark Carney going into a federal election if he does become the leader of the Liberal Party.
00:06:58.720And again, that's not even a done deal.
00:07:00.860I'll show you the poll result here if you haven't seen it yet for the latest Main Street poll that they did only of Liberal members.
00:07:07.720Because he's leading, definitely, but this is before the debates where he kind of looked really lackluster.
00:07:14.740And in this poll, he's not doing so hot.
00:07:17.100And I guarantee Karina Gould and Bayless are going to be getting a bump out of this.
00:07:20.800And they can maybe horse trade with Freeland to make her the leader instead.
00:07:24.200But I think a lot of Canadians are going to get the impression of Carney that the man's kind of a weasel.
00:07:30.220He's the guy who will say whatever he needs to in the meeting he's currently in to get through it.
00:07:36.140But he doesn't really have the integrity, to be honest, today and tomorrow.
00:07:41.720It depends on what's beneficial today.
00:07:43.620Here is the current polling right now.
00:07:58.380Bayless is at 3% and undecideds are at 7%.
00:08:01.720Naturally, there's much fewer undecideds in leadership races compared to other elections
00:08:07.080because the members tended to have signed up through one of the candidates.
00:08:10.620And they're more likely to stay loyal to them than switch.
00:08:14.280But I think after the very weak French performance of Carney and just a boring who cares performance in English from Carney,
00:08:22.420there's a lot of people who could subtly shift away.
00:08:25.960I think that guy needs to win or become extremely close to winning on first ballot or he's so screwed.
00:08:32.920Even if he wins, if it's a third ballot win, if he has to go to the end or he only barely scrapes it out after two ballots,
00:08:41.660that's going to be a big indicator that the man doesn't have any staying power.
00:08:45.100And I've said it before, when polls are showing the liberals suddenly leaping ahead of the conservatives off of the back of this very low energy liberal leadership race,
00:08:53.840I think pollsters just need to check their methodologies again.
00:08:57.400I'm going to have a video on polling out tomorrow because Abacus Data is releasing a poll tomorrow.
00:09:02.660And I think they tend to be one of the more accurate ones.
00:09:05.100So I'd like to see what they're going to say.
00:09:06.920But a lot of these pollsters, they're saying that, well, if we say Mark Carney is the leader, the liberals are ahead by three points.
00:09:14.540Really? You're going to be ahead if Mark Carney is the leader?
00:09:19.640Carney doesn't even have 50% name recognition in Canada.
00:09:22.500There are actors who do CBC shows who have higher name recognition than Mark Carney.
00:09:30.260I think this is just a massive response bias.
00:09:32.660I can even bring it up now and I'll probably do it tomorrow as well.
00:09:36.020I thought Innovation Research's poll of Canada was great.
00:09:41.280And I'm not just saying this because they had the conservatives ahead.
00:09:43.900That doesn't benefit me at all to lie about where the conservatives are at.
00:09:48.360Because like the numbers are going to be the numbers on election day.
00:09:50.940And, you know, I don't want to destroy my reputation by saying, oh, no, the conservatives are like 70 points ahead.
00:09:59.000I'm only going to say what I actually think is going on in the polling.
00:10:03.840And Innovation Research does a really good job of balancing the type of voter.
00:10:08.660So their latest poll had the liberals at 27 percent and the conservatives at 40, a 13 percent lead for the conservatives,
00:10:15.620which I think maybe their lead could be a little smaller than that.
00:10:19.180But I think that you're not going to push the conservatives below 40 percent in this election cycle.
00:10:23.920I also don't think the People's Party is going to be getting 3 percent.
00:10:27.500I think they're going to shrink back to what they were at in 2019, 1.7, 1.9 percent.
00:10:32.920And the conservatives are probably going to eat up more of that percentage.
00:10:36.740So but this 13 percent lead makes sense when you look at the types of voters that they poll.
00:10:44.320I love that Innovation Research does this because when they do personality tests on voters and ask them some fundamental political value questions,
00:10:55.360it makes it so that they know that they haven't overpolled a type of person because people may change how they vote,
00:11:02.740but their political personalities tend to change far slower over time.
00:11:07.580So as you see here, we have like six different categories.
00:11:11.880Hey, as you go, moderates, which are moderates, very subject to changing based on the performance of the current government.
00:11:17.680We have populist conservatives, more right wing voters, deferential conservatives, a little bit more of like a red Tory.
00:11:26.440That's more of I guess a business liberal is a red Tory, but deferential conservatives, generally pretty orthodox.
00:11:32.760But, you know, I think I believe if I've looked up the definition, less populist, more like neoconservative type conservatives,
00:11:42.280business liberals, more red Tory-ish people who can go between the liberals and conservatives, election to election, left liberals and core left.
00:11:51.700The difference between business liberals and pay-as-you-go moderates is moderates could go to NDP, they could go liberal, they could go conservative, they could go green.
00:11:59.020I mean, business liberals are going to mostly flip-flop between conservatives and liberals.
00:12:49.560These people are going to be far more risk-averse on the economy, so they're not going to be voting NDP much.
00:12:55.040And now jump forward to the third week of February, when they just released their last poll.
00:12:59.240The conservatives have contracted by five points, and the liberals have gained five points.
00:13:04.080Now that makes sense with people like Mark Carney writing that a business liberal would probably be more in the know of who Mark Carney is,
00:13:11.420and they may be willing to come back, especially if they're more socially progressive.
00:13:15.720They tend to be more default liberal business liberals, that they might be coming back.
00:13:21.000The thing is, most business liberals are staying.
00:13:42.880The main group that's going to be rigid, that's going to be really hard to win back, and I don't think they're coming back, are business liberals.
00:13:50.260They may consider voting liberal most elections, but after three election cycles with a government that's terrible on finances,
00:13:57.860these people are not going to be won back by some scare ads on abortion.
00:14:01.980They're not going to be won back by saying that Polyevs like Trump.
00:14:05.700Frankly, some of these people like Trump.
00:14:07.680Some of these people like Trump just the way, in the same exact way that Mark Carney seems to like Trump,
00:14:13.840because he's trying to go to the U.S., because he realizes Trump's economy is more stable.
00:14:17.780And so he's leaving the Trudeau economy he's been advising on to go over to the U.S.
00:14:23.140Brookfield Asset Management shareholders are going to be voting conservative.