THE CLAIRE FOSS JOURNAL
RIPPING-OFF THE CANADA PENSION PLAN
Should we pity or loathe that public servant and private investor John McNaughton, the President and CEO of the
Canadian Pension Plan Investment Board. It is a shame that Mr. McNaughton couldn’t lend
the Midas touch fingerprinted over his personal investments to the humbling record of the
Board he directs.
In February of 2001, the CPPIB reported a colossal loss of 453 million on its investments in
the fiscal third quarter of 2000.
Ottawa television station CJOH, reported that between August Ist and November 28th 2000, the
public spirited McNaughton, who also sits on the private-sector Board of JDS-Uniphase, cashed
in his personal shares for $13,608,453......His timing was simply impeccable, given the terrible drubbing JDS
shares have incurred since those trades.
This does not bode well for the future of Canada Pension Plan. It may also be asked, just what is
our government doing speculating with the people’s money on that most risky gambling casino,
WAKE UP YOU FEDERAL POLITICIANS........before you end up causing a national disaster of
** Thanks to TV station "CJOH" and "Bourque Newswatch" from which much of the above information