Whitby Fmeeprees, Wecrda&y, Februay 21. 1996 ,Pqpe 7 - T iain.arnu uTy Rert Banks aren't fulfiuingm their mandate By Al« -epbrd What is it that's really driving the banks these days? la it a concernfor you or me? Or our communities? Perhaps it's the. busineeses operating around Durham that employ you and I? Quit. frankly, I doubt it. From my vantage point, the balnk' driving force is their unquenchable thiret for concentrating power and exp --in financial services t., increase their profits. The concentration is not only financial it is also geographical. They're concentrating on Bay Street - flot thi. main streets of Durham. Take insurance and car leasing as two examples. We have inuace brokers in Port Perry, Bowmanville, Uxbridge and Orono and people in the car leasing businesses, too. The people ruxuning these businesses make decisions locally, they know their clientele, they employ- you and I. That's good for, aU thi. cominunities i Durham. Clearly the banks, in their quest for econoniic concentration and domination of the financial serviceau'ndustzy, couldn't give a hoot about our communities or thie people who live and work i themn. Think back t., when NAPTA was being negotiated. It was the banks who were the major supporters of fres trade. They argued -- forcefiffly - that freer trade would allow them t. penetrate and capture a major portion of the U.S. banking market. Now they are singing a different tune. U.S. banka are stronger than Canadian bankers expected. Canadian bankers are scared they will lose market share t. the Americans. Are Canadian bankers inept at capturing the veiy business they said they would when the ink on the free trade agreement dried? Now that the Americans have kicked them around, Canadian banks stili haven't tried to manage their operations any botter, nor have they concentrated on partnerships with U.S. counterparta. What they did is come running home holding their amarting backsides asking the governmen - that's you - to protect them i their own markets and allow them to divers*f and expand services i Canada.,If that's not gall. You alo remember the banka told us they juet had t ho i the securities -business.. Why? What benefits has this had for' the Canadian economy? Mas equity capital become any easier for small and medlium-sized business owners to get? Have.consumera seen user fees and commissions that banka make lowered? <Ail I ses is sinaller brokerage firme being denied acceffs t. capital whicli in turn aUlows banka t. dominate the financial market place. lI some ways banka are imaginary institutions since their whole existence is mandated by legislation. The bottom line is that they are pampered. Wliats worse is that all this pampering bas not nurtured any loyalty t. the Canadian economy. Canadians3 need community-based banking t. provide exclusive lending and sources of equity boans for the. amail businesses and employers in our community. This was supposed to ho the mandate of our charterad banks. But banks are not fulfilling their mandate. Therefore they have a tremendous nerve asking us to, ezpand it. Alex Shepherd Ms MP for Durham riding which indludea Whitby, north of Tauntonx RoadL To reach him conetiuency office, ccli 721-7570 (Oshawa). More discilie for young offenders By JIm Fiarty Solicitor GxenerÈan rd Ministor of CoretiUonal Services, Bob Runiman, has announced that a task force made up ofcommunlty leaders and MPft wlll b. responuible for developfing a strict; discipline program for Young offenders I Ontaro. A prograrn tailor-made for Ontao will toach Young offenders More dlcpleand have them take personal responslbity for thefr actions. TI. task frewlll bo responsible for estabBaihh standards for securlty, bast i ufs training, work-related akills devebopment, a.rei tia-. on -p.o.Mra.a . Src;dicpiefal Itiesbav-3 lra9 [w. BALDWIN STPIErLooKINGNoE1,BOoL1, .19M0 The large brick building at left was a grocexy store operated by Alfred C. Elliott, and was demolished in 1971 to build the Canadian Imperial Bank of Commerce. The next building té, the right is the Brooklin House Hotel, now the Legion Hall for Royal Canadian Legion Brandi 152. The next building north la Balfour's General Store. Wbitby A-chives phéo 10 YEARS AGO from the Wednesday, February 19,1986 edfition'of the WH1TBsY FREE PRESS " Town Council is planning tu approve a $6 millon expansion of the Iroquois Park recreation complex.. " Town Council han approved $80,000 wort;h of grants te communty organizationa. " David Brennan ia the charter president of the new Brooklin Lions Club.., " More than $2,000 waacoentributed by residents at laat years- Santa Claus Parade for* Muscular Dystrophy research. 35 YEARS AGO from the Thursday, February 16, 1961 edition of the WB1TBY w WKLYNEWS 0 There la a heavy demand *for water as wells on district farin! bave hmn dry. * Ma Rogers, of Hamilton, founder of the Kinsmen Clubs in Canada, was a special.guest of' the Whitby Club on Feb. 14. oJohn Robarts, Ontario Minister of Education, opened the new Brooklhn Public Llbrary on Feb. 8. *TheOntario Hospital at Whitby is creditod with pioneering a new psychlatric remotivation tochnique in Canada. 100 YEARS AGO from the Friday, February 21, 1896 edition of the <WEU[TBY IIRONICLE a The température at Myrtle on Feb. 17 was 28 degrees below zero Farenheit. 9 Myrtle Station ls a busy centre for shipping cattle and horses by rail from local fara. a Two humdred people attended a Conversazione to aid the public library, at the Oddfellows', Hall on Feb. 17. a An oyster supper was provided by Mrm. Richardson for the Upper Canada Coâ1ege hockey Ummr which played the Whitby team on Feb. 15.