Conservative Daily News - The best news, analysis and opinion articles written by a collection of citizen journalists. Covering a range of important topics in blogs, op-ed, and news posts, these upstanding patriots are bringing back American exceptionalism with every entry..

Guess Who Invests With Bain

The California State Teachers’ Retirement System (CalSTRS) has $1.25 billion invested with Bain Capital. Ricardo Duran, CalSTRS spokesman, said that CalSTRS’s fiduciary duty to its members and their families is paramount. He also said that private equity (such as Bain Capital) has been the best-performing asset class in the system’s portfolio over the past 24 years, and that “… the scrutiny generated by a heated election year matters less than the performance the portfolio generates to the fund.”

And the last time I looked, the California Teachers Association (CTA) [a CalSTRS participant] is a union. So how does the CTA resolve this apparent conflict with the AFL-CIO, which said, “Bottom line: the issue of greed vs. fairness is more than a debate about Romney’s role at Bain. It’s about fundamental American values we all hold – and how Romney’s actions, while running a major corporation, show he does not share our values.” Real “Bottom line”: “Bain‘s private-equity executives have enriched dozens of organizations and millions of individuals in the Democratic base – including some who scream most loudly for President Obama’s re-election.”

Hank Kim, executive director and counsel of the National Conference on Public Employee Retirement Systems, with 550 members, says that “pension managers ultimately want stability and good returns, which private equity has provided.” And Max Patterson, executive director of the Texas Association of Public Employee Retirement Systems, says “It’s all about money.”

And guess who else invests in Bain Capital. Toys “R” Us, The Weather Channel, Dunkin’ Donuts, and some 140 other companies, state and city pension funds, and universities. Below is a (very) partial list:

No one, not Obama, not Democrats, not the DNC, not the MSM, not unions, has pointed out the obvious hypocrisy of the unions going after Romney and his business career at Bain Capital.

Where is the Obama campaign on this? Where is the MSM on this? Where is the DNC on this? Why have they not announced who invests with Bain Capital? Will they lose credibility if they make this announcement? Why is this hypocrisy allowed to continue? All of these questions can be answered with one word: “politics.”

But that’s just my opinion.

Please visit RWNO, my personal web site.

Conservative Daily News allows a great deal of latitude in the topics contributors choose and their approaches to the content. This is due to our approach that citizens have a voice, not only the mass media. Readers will likely not agree with every contributor or every post, but find reasons to think about the topic and respond with comments. We value differing opinions as well as those that agree. Opinions of contributors are their own and do not necessarily reflect those of CDN, Anomalous Media or staff. Click here if you'd like to write for CDN.
Put This Story in your Circles and Share with your Friends

Tags: ,

Previous Article
Next Article

Comments (1)

Trackback URL | Comments RSS Feed

  1. JAN BROWN says:

    Hard to believe no one has commented by this time. It seems that some sombody doesn’t check to make sure their own laundry isn’t clean before opening up on others….Nancy Pelosi’s investments include nasty old oil companies, as does Hapless Harry’s. Can’t recall ‘which’ Senator on the left actually nhold stock in Haliburton…..& the beat goes on. Thanks Warren