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Globe Roundtable

Continued from Page 5

EDWARD GREENSPON: John — is this just a tip of an iceberg, emblematic of what we'll see a lot more of in one form or another?

JOHN MANLEY: Well I you know I think that's right. I think we're we're still at the early stage of the economic of consequences of the credit and financial problems that started in 2007 and so I think there's a pretty strong consensus around one thing and that's that 2009 is not going to be a great year for for the global economy. And so lots of these effects will be seen.

EDWARD GREENSPON: And Jodi, let me finish up with you then. Are you a Nortel shareholder?

JODI WHITE: No, I was I suppose but I'm not now.

EDWARD GREENSPON: You can't have lived in Ottawa and not have been a Nortel shareholder.

JODI WHITE: That's right.

EDWARD GREENSPON: Is this I mean this is I guess a denouement of a long, long declining story. Is this a Canadian tragedy?

JODI WHITE: Yeah actually I would use the term tragedy. I do think it is and you know there was there's no doubt that there were some greedy people doing illegal things frankly. And I think it's all unfortunate because it was a wonderful company and whether they can restructure now I don't know. But I think a lot of the problems they have to look in the mirror frankly in terms of that company from what I know. And whether or not also it's interesting in terms of tying it a little bit into securities regulation and compliance and enforcement. And you know, one of the issues with that debate that's going on right now is that our reputation on enforcement is very poor in Canada. And there's a number of examples of that. And you know there's no doubt some of these issues ended up being securities issues for for Nortel and it's an interesting tie-in in terms of the enforcement of when they knew that things were happening that obviously should not have been happening which were trying to drive up the stock price.

EDWARD GREENSPON: Okay, well next week, Tuesday — swearing-in of the new President of the United States. You're all busy people. Are you going to take time out of your schedules and make sure you watch that?

JODI WHITE: Oh sure, I am.

EDWARD GREENSPON: Doug?

DOUG McARTHUR: Well, I think I'll get good coverage of it on the evening evening news and evening reports. I probably won't get a chance during the day.

EDWARD GREENSPON: And on globeandmail.com and on next day's Globe and Mail of course you meant to say?

DOUG McARTHUR. Exactly, exactly.

EDWARD GREENSPON: Thank you Doug. Thank you Doug. John? Are you going to the inauguration?

JOHN MANLEY: No I'm first of all I'm not on anyone's invitation list but secondly this I think is up there with things like Formula One racing and golf tournaments where you can actually see it much better on television than you ever could in person.

EDWARD GREENSPON: And you will be watching it on television?

JOHN MANLEY: Indeed.

EDWARD GREENSPON: I mean to me it's sort  has the feel of the moon landing. I mean it's just something I feel you know, compelled to watch, so I'm sure many people will. I will see if it breaks Super Bowl and other records for television of viewership. I bet it will. Alright, well I'll see you guys watching it on television as well next week and on the news later. And we'll have a chance to talk about it I hope. So 'till the next time — thank you kindly for all your help this morning.

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