Gullible

[Dennis The B]

The problem with the teacher's pension is purely a political one, and as such, I cannot discuss it. I will say this however: Pontiac, which was one of the cities in Michigan taken over by an emergency manager, had it's employee's pension funded well above 100%, so it wasn't that the money wasn't/isn't available, more along the lines of how the people in charge delegated it. Remember, the teachers you are referring to are unionized, and their pensions were negotiated, and therefore ultimately part of their pay was diverted to pay the fund. It's OK to renegotiate the contract for newly hired persons, similar to how many companies with defined pension plans have done, but to try and sell the pension to a private investment company and thus do away with what was agreed to for decades is disturbing to say the least. I have known a lot of teachers in Michigan, and not just in the poorer districts who pay a considerable amount of out-of-pocket expenses for their students, either for supplies or other 'non covered' expenses.

The problem with government pension funds is political. Everyone wants the money for investments, and the fund managers can't resist the pressure. The Ann Arbor teachers pension fund lost $10 million of a $20 million investment, on a questionable real estate deal.

The California pension fund has a similar problem; too many unsound investments by their managers.

Just an aside here: If the various states' pension funds had invested passively in the S&P 500 over the years, the returns would have yielded better than 10% annually.

It never ceases to amaze me at the incompetence of these fund managers. The invest in deals, never asking the question, "If this is such a great investment, why don't the commercial or investment banks go for it?"

 

[lrrifleman]

New Jersey's teacher's pension fund was quite sound and stable in the 1990s and into the early years of 2000. The problem was (surprise!), the legislature raided the teacher's pension fund for pet projects, and never repaid what was taken. This is fact, not hyperbole.

 

[wingriderz]

Another one is that T V ad that will have you in tears I S P C A. For those abused animals. What they dont tell you is your $20.00 donations are for New York only. I called for help in Florida and got a no & no

 

[Fishslayer]

My mom is still getting carp from HSUS. I'm tempted to put a dollop of Dingo's "contribution" in the return envelope.

Mom left us about 8 years ago.

 

[yaktamer]

My mom is still getting carp from HSUS. I'm tempted to put a dollop of Dingo's "contribution" in the return envelope.

Mom left us about 8 years ago.

My MIL, the type who would rescue a dog if he had to choose between a canine and a human child, was a soft touch for HSUS. I asked her husband, a lifelong hardcore hunter, what was going on. He just shrugged, as if to say, "Why poke the hornet's nest?"

I suggested he show her the founder's words where he said it was his goal to eliminate domestic pets (she had six dogs at the time). Don't think he did. Probably wouldn't have any effect anyway. People confuse me.

 

[Arik]

My MIL, the type who would rescue a dog if he had to choose between a canine and a human child, was a soft touch for HSUS. I asked her husband, a lifelong hardcore hunter, what was going on. He just shrugged, as if to say, "Why poke the hornet's nest?"

I suggested he show her the founder's words where he said it was his goal to eliminate domestic pets (she had six dogs at the time). Don't think he did. Probably wouldn't have any effect anyway. People confuse me.

Not sure why having pets so so confusing

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