Part 5/12:
Blanchard’s role is especially telling; his tenure at CDPQ, a massive pension fund integral to Quebec’s economy, is intertwined with investments heavily tied to supply management. His investments in dairy-related assets—like Saputo, one of the world's largest dairy companies—are substantial. These wealth conglomerates rely on the stability of the quota system, which ensures high prices and protects their assets' value.
Blanchard’s financial arrangements include bonuses and deferred compensation, which are directly linked to the performance of assets that depend on the perpetuity of supply management. Any attempt to open the market or negotiate trade agreements involving dairy would threaten these investments and thus disincentivize reform from within.