Quebec's finance minister says there will be no national assembly hearings into the massive losses posted by the Caisse de depot et placement in 2008.
Monique Jerome-Forget said today she is going to concentrate on recruiting new members to the Caisse's board and finding a new president for the pension-fund manager.
The governing Liberals had originally proposed two-day hearings into the whys and hows of the Caisse's $39.8-billion loss last year.
About $22 billion of last year's fall were paper losses that could regain value once the markets recover.
The rest comes from losses realized on the sale of investments and $8.9 billion from hedging its foreign real estate and equity holdings.
The Opposition Parti Quebecois had demanded the presence of Jerome-Forget and Premier Jean Charest at the hearings.
