Forum Post: When Unions Stop Using Fidelity & Vanguard
Posted 12 years ago on Nov. 7, 2011, 10:35 a.m. EST by aahpat
(1407)
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For their pension administration I will begin to trust the union involvement in the #Occupy movement.
Fidelity and Vanguard are passive investors that have uncritically put hundreds of billions of pension dollars into Goldman-Sachs and the other predatory Wall Street banks that successfully waged economic warfare on the U.S.economy by attacking the economic viability of the American Dream and America's middle-class.
America's pension funds need activist money managers that will invest in banks and corporations that support America's middle-class and that believe in the American Dream.
You bring up a huge core issue, pension funds from city unions all over the country was then used to invest in offshore companies that robbed the private sector of job opportunities.
Probaby not the intent of the city worker, but all that money in the pension fund had to be invested somewhere.
Had those countless TRILLIONS of American worker dollars been reinvested in America these past fifty years the #Occupy movement would never had been incited.
Unfortunately, that would have just made america more attractive to the rest of the world and we'd have laser beamed borders.
Won't happen...they have broad mandates to keep the money diversified...that means you own it all
Investing in long term American economic growth does not conflict with diversification. It enhances diversification.
Unions also have a mandate to protect the interests of their members. that means growing the U.S. economy to grow their membership as well as growing the American tax payer base in order to keep taxes low for their members.
And it is in their members interests to grow the American workforce so that members don't find themselves with over-educated yet under-employed children at home needing support due to a lack of economic opportunity.
They invest in Non-US companies as well....does that bother you?
Investing in American long term economic growth supports and promotes multi national growth since the U.S. economy has been the driver of the global economy for more than a century.
This is not a matter of what "bothers" me. That is a silly argumentative frame of reference.
It is a matter of economics and common sense self interests for the unions and their workers. Investing is a healthy American middle-class economy provides more economic opportunity for businesses around the world to grow and profit from the American middle-class consumer based economy.
That's all nice and fluffy but let's get back to the question. Do you think Unions should invest in the stock of companies in other countries?
When you learn to read for comprehension you will find that you already have your answer.
I see that your intelligence level is below mine so I will converse with someone on my level. No wonder we have so many unemployed.
You are right, all unions should immediately remove their investments from Fidelity and Vanguard and invest in the Green Investment Group. Although It has not yet shown a return on investment the potential is there. The members will just have to wait a few more years to retire.
I don't espouse any investment managers in particular. There are plenty that are focused on American industry.
If the unions were more activist in demanding that their funds not be used to finance American job destruction there would be even more managers and funds focusing on American growth so that they too could get some of that easy union money.
The money of American workers should be directed in the interest of American workers by investing in America's long term economic growth.