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How to cut settlement

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The following content is provided under a Creative Commons license. Your support will help MIT OpenCourseWare continue to offer high quality educational resources for free. To make a donation or to view additional materials from hundreds of MIT courses, visit MIT OpenCourseWare at ocw.mit.edu. GARY GENSLER: Todays a little bit of a discussion about clearing and settlement systems. Maybe you feel youve heard everything you needed from Jeff Sprecher when he was asked a question when he was with us. Jeff runs some of the largest clearing houses in the world at Intercontinental Exchange not only because he started in the energy business, but he has big credit default swap clearing houses and energy clearing houses and the like. And he said, well, I dont know about blockchain technology for clearing and settling. But Im going to try this Bitcoin project that you all know about and he talked about. But today were going to try to dig into, well, maybe theres something there, because th

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How much money did Canada give residential school survivors?

The residential schools settlement obligated the 48 Catholic entities involved to pay $79 million, which was broken into three parts, including making best efforts to raise $25 million for residential school survivors.

Did Canada fund residential schools?

The Indian residential schools in Canada were predominately funded and operated by the Government of Canada and Roman Catholic, Anglican, Methodist, Presbyterian and United churches. To a lesser scale, some Indian residential schools were funded by provincial governments or by the various religious orders.

How many Indian Day schools were there in Canada?

The Canadian government and the Roman Catholic, Anglican, United, and Presbyterian churches operated nearly 700 Indian Day Schools across Canada, in every province and territory except for Newfoundland. Indian Day Schools operated for over a century, from the 1860s to 1990s.

How much money did residential school survivors receive?

The settlement agreement includes $10,000 in individual compensation for all persons who attended an Indian Residential School as a day scholar during the day, but did not sleep there overnight. A list of Indian Residential Schools included in this settlement is found in Schedule E of the agreement.

What is the Ontario Day School Settlement?

In 2019, Canada signed a $1.47-billion settlement with thousands of former students at the 600-plus schools that operated across Canada between 1863 and 2000. Compensation is on a tiered system for harms suffered, from level one to level five, ranging from $10,000 to $200,000.

What is the McLean Day School Settlement?

Who is MDSSC? The McLean Day Schools Settlement Corporation (MDSSC) was established as part of the historic McLean Federal Indian Day Schools Class Action settlement, which endowed MDSSC with a $200 Million Legacy Fund for projects to support Survivors of federally-operated Indian Day Schools, and their families.

Who qualifies for Indian Day School settlement?

To be eligible for compensation, an individual must have attended one of the identified Federal Indian Day Schools or Federal Day Schools on Schedule K of the Settlement Agreement (the school list) and experienced certain abuse/harm during the time the school was run by the federal government.

What is the definition of cut-off lands?

cut-off lands means lands that had before 1916 been appropriated by the government for the use and benefit of Indians but that, under the Indian Affairs Settlement Act, S.B.C. 1919, c.

What is the common experience payment Canada?

The Common Experience Payment (CEP) is a lump-sum payment that recognizes the experience of living at an Indian Residential School(s) and its impacts. All former students who resided at a recognized Indian Residential School(s) and were alive on May 30, 2005 were eligible for the CEP .

Does Canada pay reparations?

Reparations were due under a landmark settlement in 2006 of a class-action lawsuit brought by former students. Most of the 4.7 billion Canadian dollars that were paid as reparations to Indigenous peoples came from the federal government.

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