Quebec, Canada, Federalism, and Separatism: Questions Abound

This train of thought began boarding the station as a result of an aside in the commentariat discussion of one of Paul Kedrosky's blog posts.

Thinking the Unthinkable: U.S. Default

Although the market for such insurance is relatively illiquid, the price suggests the market believes the US government is more likely to default on its obligations than some other industrialised countries. “The USA is now ‘riskier’ than Norway, Germany, Netherlands, Sweden, Finland, Austria, France, Denmark, Quebec and Japan,” said Tim Backshall, chief strategist at Credit Derivatives Research.
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"Andrew": I was surprised to see Quebec on the list of "other industrialised countries." I must have forgotten about Quebec's breaking away from Canada. Je me souviens? Apparently not.
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"Bassfisher": It's about default and the cost of insurance, not defederation. Even if Que left the dominion of canada, they are able to pay their way. Quebec arranged its own credit rating with canada's blessing, same as my wife has her own a/cs.

If Quebec separated, I'm genuinely curious how well they would be able to service their debt issues once they no longer received Government of Canada largess and Provincial transfer payments, not to mention using a currency of their own devising and not the Loonie. Arranging their own credit rating while still being underwritten by the Canadian Government is a whole other kettle of fish from maintaining their rating while being economically independent, whether self-sufficient or otherwise.

If I'm off base, or completely ignorant, feel free to enlighten me.

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CTV, CBC, and the "Hockey Night In Canada" Theme: Great Moments In Blowing It

Marketnews editor Christine Persaud did a great blog post last week about the legal wrangling between the CBC, and Dolores Claman, creator and rights holder of the iconic theme song for "Hockey Night In Canada."

MarketnewsGadgetTalk: Copyrights Might Kill Our Hockey Song

The CBC has decided not to renew its contract with the composer of the Hockey Night in Canada theme song. All across Canada, hockey fans are bowing their heads and pumping their fists in anger. To many, it's almost like saying that the country is going to replace its National Anthem. So why the reason behind the decision?Many reports state that the network has simply decided to "move in a new direction".
But others have dug up information about a lawsuit the composer filed against CBC based on the unauthorized use of the tune beyond the scope of the original license agreement. Reportedly, CBC has license to use the song, composed by Dolores Claman in 1968 and used in partnership with the sport since then, in all Hockey Night in Canada broadcasts in Canada. So when the network decided to use it in the UK, and in "various other productions", Claman cried violation.

As if that wasn't trouble enough, the plot thickened when it was announced today that rival network CTV has scooped the rights to use the "Hockey Night In Canada" theme.

CTV buys rights to former 'Hockey Night in Canada' theme song

The saga of CBC's "Hockey Night in Canada" theme song took a surprising turn Monday as rival network CTV announced it has acquired the rights to the iconic tune.
CTV said it will use the song on NHL broadcasts on TSN, RDS and during the broadcaster's coverage of the 2010 Olympics in Vancouver.

It's not every day that you see bungling of this caliber. I would equate CBC's failure to retain the rights to "Hockey Night In Canada" with how Coca Cola allowed Pepsi to clobber them in the 1980's: It should never have happened, but they blinked, and a nimble competitor speed-bagged them. More power to CTV for recognizing a golden opportunity for what it was.

On the bright side, CBC execs might be able to secure the rights to Canada's second-most iconic song about hockey:

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