Your story makes me weap. I had also my inventment stolen by those offical thieves.
It seems that we live in a world without justice.
As I lost,someone must win.
Where is our honest and clean money Mr.Alagan?
We know who are the thieves,but we can not point our finger to them.They are the powerful "Money Men" of Wall Street like Lehman Brothers for instance.

The RRSP boondoggle is really starting to come home to roost. I got out of all my 'protected' savings a few years ago - after doing some unorthodox thinking and then investigating possible outcomes. At the time, I realized my savings were not really my own - the big hand of government was forever installed between them and myself. If I were owner of a lrge, or medium sized - corporation with highly paid accountants and lawyers, I reasoned, this sort of thing would possibly be to my advantage. But, it seemed clear that the tax burden could be increased willy nilly by our government at any time [look at the Trusts], the 'rules' could be changed for any number of 'reasons', and I basically would not have real control or access over my own money. I also was alarmed to realize my husband and I had succumbed to what most folks did who were made very afraid, through TV shows and news programs and extremely aggressive non-stop advertising and bank circulars - that they would not have enough to retire on - that Canada Pension would not be there, that most folks did not/would not have a company pension generous enough to live on - if have one at all. And so - we had borrowed [oh so conveniently - and made most popular by the 'powers that be'...by refinancing and taking equity we had in our home at that time. But now, as this equity evaporates, these 'loans' hit with a double whammy, if one tries to keep the house for the rest of the amortization. And, the equity moved to the RRSP now represents less than half if one is lucky - for those very unlucky millions who are invested in 'higher yield but somewhat riskier vehicles' we were all advised to 'save' in to earn 'enough' for our future retirements - that lost equity is now worth is worth zip in our retirement accounts as well. After spending bundles of cash to fees and front-loaded and end-loaded commisssions to the financiers who planned it for us. So - how convenient this now appears to the major global wealth shift that is going on!]...Don't forget, we were all aggressively encouraged by our own governmnet to buy these RRSp's -and then we got the hard-hitting spiel by all the new 'financial products' wizards of the day telling us the tax benefit would be greater than the interest etc. etc. So - many of us lost ownership of our houses trying to use them to build up investments that 'paid' better, and we now owe far more than they are worth; now we also lost that retirement money as well that came out of the house.
A little too convenient, if you ask me. Even though I was mocked by everyone at the time for 'stashing' my cash in the walls, and in primarily paying down my mortgage [something seen as backward at the time, unfortunately]...and by remembering my grandmother's and parents' admonitions about 'schemmes' - even government schemes that seemed too true-blue to believe - I am relieved to have held on to some of own money where nobody has access or control other than myself. In terms of work, for those who have no personal or familial memory of 'really tough times'...this is when the Underground Economy flourishes. Not even illegally neccessarily - folks start doing for others what they were once paying strangers to do - and we take care of those around us on a more personal community level outside of consumer services, and outside of financial services institutions [ie. loans, credit cards etc.] - outside of the 'visible public sphere'. This, I think - is why the main thrust of bailout packages are aimed at the financial instutions and not the general public. The powerful cannot risk a return to consumers becoming just citizens again - folks who enjoy a degree of independence from their meddling in our personal exchanges and relationships.

That is why I never bought RRSPs or invested in something was promoted so much. My friends and banks I dealt with called me stupid and surprised to know that I do not belive in RRSPs, RESPs, etc.
I did not lose any money by this economic turmoil and I paid off my house which is worth something.

If you don't sell your investment portfolio you won't lose anything. Just need to wait till this cycle is finished and you get your money back. Not to worry

arrived here[canada] at 17 . toiled all my life happily, widowd 20 years. lately the fiasco's eg: income trust-in may of this year i was informed the surviors benefits would be cut by @$100 per month [due to there error dated 2000]. manulife failed to give me a T5? in 06-i did declare the income. in 07 i failed to put in the correct box[27?] as a result i never got an refund- oh yes i have appealed and appealed to date no avail. no wnder the underground economy is thriving. totally disallusioned,73 and scrounging for a job!lost dream london

So how often did you owners of shares out there act like owners? How often did you vote your shares, speak at the annual general meetings, analyze the business strategy of the company of which you were part owner and try to hold the board responsible? If you do own mutual funds, how often did your fund manager show up at shareholder meetings, and how well did they participate as your proxy?

OK, again, it is tricky to participate when many of the shares are held in mutual funds and voted as a block along with the board. Still, when you buy a share of a company it is, in theory, because you want to own a slice of the business. As an owner, you either participate or get taken for a ride.

No small amount of the responsibility for the current crisis lies in the comatose attitude of shareholders to running the companies they own. When Wall St. when public in the 80's and 90's they took advantage of this. As private companies they never would have taken the risks they did, their own money was on the hook. Instead they took public money and were neither on the hook themselves nor held responsible by an informed shareholder body.

Your plan to invest in and grow your own, private business is exactly what capitalism and the economy needs, and how it is supposed to work.

The "stolen" funds are a consequense of a wrong investment decision not conspiracies or lies. GICs and Canada Saving Bonds retained their value, which is the original investment and a small ROI. Also, a lot of investors speculate on the appreciation of stocks, rather than looking at the dividends the companies pay, or the actual value (real assets) of the company.
With the shrinking credit the spending euphoria is finally ending, as the "first world" is saturated in consumer goods and can no longer borrow the funds to finance purchases they neither need nor can afford.
During this "buy now - pay later" frenzy the old fashioned value to "save first - then buy" has been completely ignored.

Thank you so much Alagan Elavalagan. You spoke for me. I also come from so called third world Country, and I understand you well.I also agree.
Talking about first world, I live in Toronto (A city within a G:8 Country) I work for one of the Fund companies @ King/Bay, and take the King St streetcar (Whenever it shows up) home. The streetcars are so old when it rains, I get wet while I am in the car.
A combination of rootless corporations and useless politicians…..third world transportation

I think the public is finally waking up!!!
But what are we doing about it? Nothing!!!
As Canadians we like to complain and act like victims. Yes, we are voluntary victims and I think we are enjoying the role.
Come on people, we elect our government, so if we don't want to be victims...let's stand up and fight for our rights!!!
Canadians are known not to have a backbone,lets prove them wrong...we have rights...use your legal rights to our advantage...you need to overcome your fear of the powerful and corrupt...after all we gave them the power to victimize us...take a stand...fight back if not for us but for your children and grandchildren.
Due to a ongoing court case I can not tell my story at the moment, but I hope to see the day in the near future when I can disclose the horror of what is being done to thousands of Canadians and the sad results of what fear has lead them to do.

Just one question for everyone.

We all bring up issuess that exsist with in our Country, Provine and cities. Everyone has their own issue and problems they would like to bring to the light. Some issues are small and some issues are very big and serious. The questions I have is when it is time for us to speak (I am talking about the time of voting) why do we keep on making the wrong decisions and keep on electing the same politicians over and over again. Why do not we learn from our mistakes and experiences. Why does the Government oes not care any more about the people in this society. All we do is talk, talk and more talk. Mean while with no jobs have no money to pay rent or but enough groceries. But we all want to talk more. Kids in our society has more easy access to guns and than to better education but we wan to talk and talk and talk more. Government's solution is "post Police Officers in the school". Bravo what a solution. Is it a solution or a band aid. 800,000 immigration cases pending with 800,000 futures hanging in the air but Miniters are not accountable to the prople. People I think we are gettinb to the point where we have to do something. We need to start thinking and making right choice by electing right people to make right decisions for us and our country. Please wake up and instead of just talk think of practical solutions for our seciety and our generations to come.