Mark Carney announced a $3.2 billion plan to convert 2,200 empty condos into affordable housing using what he called "innovative financial tools," but Conservative Leader Pierre Poilievre had a simpler name for it.

"He wants to privatize the profit and socialize the losses," Poilievre said. "This is a transfer of wealth from the have-nots to the have-yachts." On Monday's Rebel Roundup, Drea Humphrey and Tamara Lich spent a segment proving his point.

The mechanics are straightforward. Developers built condos during a housing bubble. The bubble burst. The units sit empty because buyers can't afford them at the prices developers need to break even. The normal market solution — let prices fall until someone can afford them — would mean developers absorbing losses on a bad investment.

But Carney's solution is to have taxpayers cover that gap instead. Drea then connected the dots.

The man the industry calls the condo king — Bob Rennie, Vancouver's most prominent condo marketer — organized a $25,000-a-plate fundraising lunch for Greg Robertson, who is now the Liberal Minister of Housing.

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Rennie was also BC Liberals' top fundraiser for years, the broker who made property developers the party's leading donors. He is among those likely to benefit from the $3.2 billion now flowing from Ottawa.

"Imagine you're gathering $25,000-a-plate dinners for the Liberals," Drea said, "and now you and your friends need a bailout."

Tamara pointed out that Carney's approach traces back further still — noting a piece she wrote the previous year about Rennie pitching Carney on a housing plan that promotes foreign ownership of local real estate, including a 15-minute community development on 40 acres near BCIT in Burnaby.

"The conspiracy theorists are really just conspiracy realists," she said. "We're just a little ahead of our time."

Meanwhile, ordinary B.C. residents hoping to sell their properties and leave the province won't see a dollar of that $3.2 billion.

"It's basically a slap in the face to the private citizens that want to sell their properties and leave," Tamara said, "because they're not going to be getting bailouts from the Liberal government — probably because they can't host $25,000-a-plate dinners."

Rebel Roundup airs Monday, Tuesday and Thursday at 11 a.m. MT / 1 p.m. ET.