Amazing story about how unions are stepping up to invest in America - while the banks and PE firms keep investing in scamming American (via @kennymack1 ).
In June, AFL-CIO President Richard Trumka announced that his organization’s unions’ funds would invest $10 billion over the next five years in infrastructure projects. Since then, the federation’s construction-worker division has put $200 million of pension money into to retrofitting buildings, while the retirement funds of California teachers and other public employees have committed between $1.1 billion and $1.4 billion to infrastructure projects in the state. (Bound by their fiduciary responsibility to the retirees, the funds’ trustees must be confident that the projects will generate revenues, through tolls, fees, and the economic growth that such projects engender.)Gotta point out that "fiduciary responsibility" has been defined by judges and legislatures in a very bad way - so that the managers of retirement money can take wild speculations and have lost a lot of money - and been protected from consequence. In other news, Mike Moore is clowning away. People died for our rights to vote. Women's voting rights demonstrators were beaten to unconsciousness in jails. Medgar Evers was shot in the back for registering voters in Mississippi. When the FBI dredged swamps in Mississippi looking for the bodies of three murdered civil rights workers , they found eight additional bodies - including a 14 year old still in his CORE T-shirt. Go to hell, Mike. And take your book sales tour with you.
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