Video Hits (II)

Or, Duelling Danjos. Again, from the Telegram video:

So if there’s gonna be a value placed on the Hibernia, the 8.5 interest, and if there’s gonna be a value based on the NPI interest, and if there’s a value to the Lower Churchill guarantee, and if there’s a value to Lower Churchill infrastructure, well then that cumulative total then can be offset against the promise that he’s made and the promise that he’s failed to keep.

Mkay. A “guarantee” — assuming it’s the same thing as a “loan guarantee” — has a value.

Unless it doesn’t. Danny spoke those words at a press event in which he undid the black ribbons from around his growing bundle of hate mail directed at “Steve”. That bundle includes the December 3 letter, in which Duelling Danjo says:

We are aware that at the outset of the Hibernia project, the federal government committed to loan guarantees of $1.66 billion. However, loan guarantees should not be confused with expenditures. As you are aware, a loan guarantee becomes an expenditure only in the case of default, which in this case, will not occur.

Either Duelling Danjos can’t decide whether a loan guarantee has a cash value or not, or they do and do not depending on whether it suits the Blame Canada Message of the Day, or they plan to default on the Lower Churchill guarantee they think they are getting.