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Fax. 416-924-4094

E-Mail: mgold@homeplanet.org

December 8th, 1997

Letter to the Editor: Banks Defend their Huge Profits:

Dear Editors: (Editors shoot with Blanks.)

Why is it that you attack the banks with unloaded guns? Les Whittington, and David Crane's assessment of the bank's performance appear limited to what one reads in their Financial Reports.

I am certain Canadians appreciate your writers ability to add the numbers together, but what of the integrity behind some of the numbers reported? and other important issues?

You report the banks gave back to the community $55 million dollars. This is the number that should be attacked - not their profits. Why is it the banks give so little? Does not IMAGINE suggest 3% of profits in order to be a responsible corporation? The Bible, and most religions suggest that 10% is a "responsible" amount.

And that does not address their policy for supporting community initiatives. Their policies will shock even the most conservative mindset. They certainly do not follow any notion of sustainability.

Hopefully your writers will attempt to write on matters of importance rather than regurgitate information from self serving Financial Statements. A good place to start would be their "good works" in the global community.

I would like to go even one step further. Given the brilliant analysis that your writers have put together, and assuming that the foreign assets deliver a proportionate share of the profits, one must ask the question as to what support the bank gives back to the global community (from its huge $55 million contribution). ((40% of their asset base).

I would like to refer also to David Cranes article on the weekend as he refers to the New Media. These issues are connected. It is unfortunate that Mr. Crane does not see this. Some of us do. And some of us are preparing ourselves as the infrastructure changes. I guess he is hoping that he will be retiring before he has to think about it.

Sincerely,

Mitchell Gold

Mitchell L Gold C.A.

Assistant to the Executive Vice-President

Canadian Chancellor

United Nations Plenipotentiary Envoy

FYI

Mitchell Gold is a Canadian, Torontonian, that is currently traveling the world on a 1000 day plan to raise 100 billion dollars for the children of the world. The project, launched at the United Nations September 16th raised $1 Billion dollars the first day. (Ted Turner) By promoting the website www.homeplanet.org and its world Citizenship Challenge he is intending to get issues of importance on the discussion table. His travels can be followed on his website, as well, educational materials on common core curriculum, sustainability, and world citizenship.

Where do you stand on these issues?