The Hatchet

Support us at hatchetmedia.substack.comIn 1978, a South African accountant orchestrated one of the most audacious and ruthless hostile takeovers in the history of Canadian business.His name was Jack Cockwell. And over the next decade, he would build a corporate empire unlike anything Canada had ever seen.This is the third episode in our series examining the history of Brookfield. In our first two episodes, we traced the company’s lineage through Brazilian Traction, the neo-colonial monopoly that dominated South America, and through the Bronfmans, the bootlegging dynasty that supplied liquor to American gangsters during Prohibition.But those were just the origin stories. This episode is about what happened when those two worlds collided.Edper-Brascan controlled over 500 companies. The beer you drank, the team you watched, the mall you shopped at, the house you lived in — all of it could be traced back to this sprawling conglomerate. At its height, it was worth more than $120 billion.All of this was Jack Cockwell’s domain. Immigrant, corporate philosopher, ruthless operator, Cockwell single-handedly imposed his will on Canada’s business establishment and dominated the 1980s like no one else.But by the end of the decade, people on Bay Street began to whisper.Something was rotten at the heart of Cockwell’s empire. They said that the whole thing was a mirage. A lie. A house of card waiting to fall over.They all turned out to be right.To learn more:The Brass Ring: Power, Influence and the Brascan Empire by Patricia Best & Ann ShortellEdper by Keith Dalrymple“The Edper Puzzle” by Kimberly Noble in The Globe and Mail“The Second Coming” by Rod McQueen in The Financial Post“Fears for a Leveraged Leviathan” by Clyde Farnsworth in The New York Times“He was a titan of Bay Street and a senator. But J. Trevor Eyton died owing millions in taxes and on the verge of bankruptcy” by David Bruser & Jesse McLean in The Toronto Star This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hatchetmedia.substack.com/subscribe

Support us at hatchetmedia.substack.comThis is the second episode in our series about Brookfield, the Canadian financial giant. In our first episode, we told you about one half of the company’s corporate lineage — Brascan, the Canadian monopoly that dominated Brazil for half-a-century.But Brookfield has another parent — the Bronfman family. And their story is even more remarkable.It begins in the dusty prairie towns of Saskatchewan at the turn-of-the-century, where Jewish cowboys and American gangsters came together to create one of the great fortunes in world history.And behind every great fortune, there is a great crime. And the crimes of the Bronfmans were numerous. But they were able to get away with it all, thanks to bribery, destruction of evidence and the intimidation of witnesses.For decades, the Bronfmans were able to write their own history of how their wealth was acquired. But the truth can only stay buried for so long.The Bronfman dynasty is one of the greatest dynasties that the Americas have ever seen. But like so many dynasties, they would fall apart into ignominy.And at the centre of all of this was the most powerful businessman in Canadian history, the kingpin himself — Sam Bronfman.Featured in this episode: Stephen Maher, Jordan CornishTo learn moreThe Bronfman Dynasty: The Rothschilds of the New World by Peter C. Newman“The ties that bind the Liberals and the Bronfmans” by Stephen Maher in Maclean’sThe Brass Ring: Power, Influence, and the Brascan Empire by Patricia Best & Ann ShortellThe Bronfmans: The Rise and Fall of the House of Seagram by Nicholas FaithMavericks: Canadian Rebels, Renegades and Anti-Heroes by Peter C. NewmanMusic“Throne of the Soul” by Nihilore. Adapted. Licensed under Creative Commons: By Attribution 4.0 License http://creativecommons.org/licenses/by/4.0/"Magic Escape Room"Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 4.0 License http://creativecommons.org/licenses/by/4.0/I dunno by grapes (c) copyright 2008 Licensed under a Creative Commons Attribution (3.0) license. Ft: J Lang, Morusque This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hatchetmedia.substack.com/subscribe

This episode was first published on April 12th, 2025. Happy New Year, Hatchet listeners!The chance to put out good journalism is its own reward, but to everyone who has listened, shared, or supported us over the last year—thank you. We wanted to kick off the year by updating you on our series on Brookfield. It’s been a long road, but we’ll be publishing the next two new episodes this week, with more to come later in the month.We can’t wait for you to hear it.But before you do, we wanted to re-publish the first episode in the series. It’s an important primer for an increasingly complicated story.Brookfield has been in the news constantly over recent months. The Conservatives attacked the company for moving the headquarters of one of their subsidiaries to New York City. The NDP have accused it of avoiding taxes through offshore havens. And Prime Minister Mark Carney, the former chairman of Brookfield Asset Management, has found himself on the defensive because of his association with the company.But what these political attacks miss is a far more important story. It’s a story of a company that has been central to Canada’s history and economy for more than a century.So what exactly is Brookfield? That’s a question that we here at The Hatchet have set out to answer.What we found was a company that almost defies description.Brookfield has been a financial universe unto itself, operating by a different set of cosmic laws and fundamental forces than other corporations.It’s a company that’s shown an almost unparalleled talent for reinvention. Over its 125-year-history, it’s morphed from a neo-colonial experiment to Canada’s most ruthless corporate raider to a seemingly boring storehouse of our collective pension earnings.Now it is one of a tiny handful of financial entities that sit at the very centre of the global economy.And so that’s why we’ll be spending this series focusing exclusively on this incredibly important and yet rarely understood company.We’ll be digging into its epic history, its contentious present and what the continued domination of firms like Brookfield could mean for everyday people.In this first episode, we shine a light on it’s first incarnation — Brazilian Traction, Light and Power — and how it managed to dominate the people of South America’s biggest nation for most of the 20th century.Featured in this episode: Tyler ShipleyTo learn moreCanada In The World: Settler Capitalism and the Colonial Imagination by Tyler ShipleyThe Brass Ring: Power, Influence and the Brascan Empire by Patricia Best & Ann ShortellLet Us Prey: The Practices and Profits of Canadian Corporations and Businessmen edited by Robert Chodos & Ray MurphyThe Light: Brazilian Traction, Light, and Power Company Limited, 1899-1945 by Duncan McDowallSupport us at hatchetmedia.substack.comThe Hatchet is a podcast and newsletter dedicated to exposing power and money in Canada. We deliver important, original and fascinating journalism about how this country actually works.Music: I dunno by grapes (c) copyright 2008 Licensed under a Creative Commons Attribution (3.0) license. Ft: J Lang, Morusque This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hatchetmedia.substack.com/subscribe

I’ve had a hard time knowing what to make of the still-unfolding saga around Jeffrey Epstein.Like basically everyone else in the world, I’ve been following the story with interest for years.Even before the Miami Herald’s explosive 2018 investigation into the extend of his sexual abuse and how he had been able to get away with it, I had a vague understanding of a man named Jeffrey Epstein who abused girls and hobnobbed with powerful men like Bill Clinton and Bill Gates.And since then we’ve learned so much more. There have been so many journalistic investigations into Epstein’s connections with the elite, into his finances and into the circumstances around his death.Of course, we’re still left with more questions than answers. Which has allowed Epstein to become this sort of Ur-conspiracy theory that people online obsess over. Was he a CIA asset or a Mossad agent? Was he collecting blackmail on the rich and powerful? Did he really kill himself?But somehow, there was a part of me that felt like these were the wrong questions to ask. That they didn’t explain exactly who this guy was and why he was able to get away with what he did for so long. And didn’t really get at the heart of why this story has global importance.And then just the other week, I read a piece by Canadian journalist Jeet Heer in The Nation that made it all make sense to me.Heer argues that the Epstein was — alongside many other things — a warlord.He was basing this assessment on a number of articles that have been coming out of publications like Drop Site News and Reason that examine troves of email correspondence that Epstein had that the mainstream media is so far refusing to report on.And the case he makes is compelling. So I decided to give Jeet a call and ask him all about it.Featured in this episode: Jeet HeerTo learn more"Jeffrey Epstein Was a Warlord. We Have to Talk About It." by Jeet Heer in The Nation"Jeffrey Epstein and the Mossad: How The Sex-Trafficker Helped Israel Build a Backchannel to Russia Amid Syrian Civil War" by Murtaza Hussain & Ryan Grim in Drop Site News"Inside Jeffrey Epstein's Spy Industry Connections" by Matthew Petti in ReasonSupport us at hatchetmedia.substack.comThe Hatchet is a podcast and newsletter dedicated to exposing power and money in Canada. We deliver important, original and fascinating journalism about how this country actually works.Music: I dunno by grapes (c) copyright 2008 Licensed under a Creative Commons Attribution (3.0) license. Ft: J Lang, Morusque This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hatchetmedia.substack.com/subscribe

This is a free preview of a paid episode. To hear more, visit hatchetmedia.substack.comThe much anticipated budget is finally here and it promises to make "Canada Strong."Between the eye-popping promise to enable $1 trillion dollars in investments over the next five years and the $78.3 billion deficit, there’s a lot to take in.And that’s before we get into the really critical stuff… like maybe Canada will try to join Eurovision for some reason? (We don't talk about Eurovision at all).Today on The Hatchet, Jordan sits down with Arshy to break down the budget and try to make sense of what this all means for Canada.Support us at hatchetmedia.substack.comThe Hatchet is a podcast and newsletter dedicated to exposing power and money in Canada. We deliver important, original and fascinating journalism about how this country actually works.Music: I dunno by grapes (c) copyright 2008 Licensed under a Creative Commons Attribution (3.0) license. Ft: J Lang, Morusque