Comments on: Guest Post: Not So Fast: Indiana State Pension Fund Seeks To Block Chrysler 363 Sale, White & Case Retained

By: Support American Workers – Another Idea

Support American Workers – Another Idea — Tue, 08 Sep 2009 18:40:36 +0000

[...] who refuse to share the sacrifice our president insists we all experience in equal measure? According to the the Governor, Treasurer and legislators from the State of Indiana, they are retired police officers, school teachers and their families. These retirees, and the [...]

By: Dan

Dan — Mon, 25 May 2009 15:52:36 +0000

I'm sure that $43 million would not be the entire pension fund for 100,000 people. You will need billions$ for that number of people. This would only be a small portion of their entire fund.

Didn't they already agree to this ?

Dan

By: Mark from Michigan

Mark from Michigan — Thu, 21 May 2009 15:02:26 +0000

The pension funds were put at risk by the pension fund manager – read the pleading, they were interested in a “safe” return, so they bought securities that retailed for less than half of face value, in a company that everyone knew was teetering. This “zealous defense of pensioners” could really backfire on them if people bothered to learn the facts. I’d be a little po’ed if it were MY pension dollars they were gambling with

By: joebek

joebek — Thu, 21 May 2009 11:56:07 +0000

The US financial and economic crisis will not even begin to be resolved until public employees pension funds are put at serious risk. Why? There is always an option for legislators to make up shortfalls in public pension funding through increased taxation. While politicians usually and naturally desire to raise taxes, they are generally morose about feeling pressure to raise taxes. Politicians are in the business of feeling superb and pressure and accountability are antithetical to superbia.

By: LeeAnne

LeeAnne — Thu, 21 May 2009 10:43:08 +0000

Re: House Speaker Nancy Pelosi, D-Calif., welcomed a proposal from Treasury Secretary Timothy Geithner to give the Treasury the authority to unwind large, nonbank financial institutions that have become insolvent.Treasury needs this to help them decide who should be insolvent and who should be helped. We can then have too big to fail EVERYTHING. I can’t wait.

By: LeeAnne

LeeAnne — Thu, 21 May 2009 10:37:15 +0000

Indiana Business Journal"The losses, however, are a sliver [$5.6 million invested] of the overall value of the funds. The police fund holds about $350 million, the road fund $2.5 billion and the teachers' fund $6.9 billion."

IMO more evidence Loria is manufacturing ammunition for the Republican strategy of name calling to win elections. They'd just rather see Republicans in the finance/kleptocracy seat than Democrats.

Obama's a socialist naa naa na na

I prefer Democrats myself. They're just as bad but not as mean.

By: Septly

Septly — Thu, 21 May 2009 09:02:40 +0000

B. Mull, what freaking planet do you live on? You didn’t read the article. The “civil servants” include teachers and police officers. I’m from California, and I can assure you that if you include all government workers, including teachers and police officers the state has FAR MORE than 200,000. Try reading carefully next time. As for the pension funds, they have a LEGAL duty to the pension holders to zealously represent their interests. I’m sure the concept of legal obligations and fiduciary duties doesn’t mean much to a flip soul such as yourself, but to others take their responsibilities seriously.

By: B. Mull

B. Mull — Thu, 21 May 2009 03:28:57 +0000

My only question: Why the heck does Indiana have 100,000 civil servants? California with 6x the population has only 200,000. If I were them, I’d swallow the loss and try to keep a low profile.

By: Hugh

Hugh — Thu, 21 May 2009 02:47:38 +0000

Chrysler, the hedge funds, and the pension funds are all insolvent. The only difference is that Chrysler is officially bankrupt while the others are playing games to avoid as long as possible their own admissions of insolvency. And too perhaps they hope to wheel and deal and get the government to cover this instance of their reckless speculation or perhaps they hope to drag this out as long as possible in order to keep inflated valuations of these and other assets on their books.

Shorter version: They are all bankrupt but so far only Chrysler has had to admit it.

By: Doc Holiday

Doc Holiday — Thu, 21 May 2009 01:56:11 +0000

What happened to justice and law in America?

Remember the good ol days… huh, huh?

John Quincy Adams rose to speak on February 24. First, he reminded the court that it was a part of the judicial branch, and not part of the executive. Adams introduced correspondence between the Spanish government and the Secretary of State, criticizing President Martin van Buren for his assumption of unconstitutional powers in the case.[9]
This review of all the proceedings of the Executive I have made with utmost pain, because it was necessary to bring it fully before your Honors, to show that the course of that department had been dictated, throughout, not by justice but by sympathy — and a sympathy the most partial and injust. And this sympathy prevailed to such a degree, among all the persons concerned in this business, as to have perverted their minds with regard to all the most sacred principles of law and right, on which the liberties of the United States are founded; and a course was pursued, from the beginning to the end, which was not only an outrage upon the persons whose lives and liberties were at stake, but hostile to the power and independence of the judiciary itself.[9]

http://en.wikipedia.org/wiki/Amistad_(1841)