Saturday, April 5, 2008

So, Who's Going to Jail Here?

VANCOUVER — — The Purdy Crawford-led road show for commercial paper investors reached a dramatic crescendo yesterday as the rarely frazzled lawyer appeared to lose his cool, raising his voice to tell one angry questioner that more would be done for individual investors.

Mr. Crawford faced his largest and most vocal crowd by far in Vancouver as he wrapped up the five-city cross-country tour he undertook to present to investors the plan his committee came up with to fix Canada's frozen $32-billion commercial paper market.

Many investors said it wasn't enough. One woman cried after telling Mr. Crawford she had to go back to work at age 65 because of her third-party asset-backed commercial paper investments.

Mr. Crawford's breaking point appeared to come as Bill Galine, executive vice-president of Universal Uranium Ltd., lobbed in a number of questions, including "who is going to jail here?"

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