The Canadian Press

1989-07-28 | Alberta Financial companies

Preview Clip

The Code report said inaction by Alberta government regulators contributed to the collapse of two financial companies in June, 1987. Reacting to the report, Alberta Premier Don Getty announced his government would partially compensate people who lost money in the collapse of First and Associated Investors. (About 67 thousand Canadians had more than 467 million dollars tied up in the two companies when they collapsed.)

Date: 1989-07-28
Placeline: Undated.
Source: The Canadian Press
Length: 26 seconds

Transcript Prediction: << the Alberta Government will provide an offer of compensation to investors in fic and AIC this is not an admission of fault in a legal sense but the code report provide compelling reasons to believe that the government has moral responsibility for at least a portion of the Investor's losses >>