Wednesday, November 17, 2010

Why James Coyne at 100 years old is back in the news



Forty-nine years ago James Coyne at the young age of 51, (at least young for Mr. Coyne), was the Governor of the Bank of Canada.

It was 1961 and the Diefenbaker government decided that Coyne had crossed the line by criticizing their financial performance, so they passed a bill declaring his position was vacant.

However the Liberal controlled senate rejected the bill and for the first time in our history, the unelected senate outright killed a bill that was passed by the elected representatives of the house of commons.



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