Tuesday, September 4, 2012

The Dems are Gathering...................

    Social issues are not one of my top concerns when it comes to electing a president.  I found this article in the paper very interesting as the Democrats are always bashing the rich (?) while saying they are for more jobs for the middle class.  I think they just play the middle class and are more for growing the government while securing their jobs as 'public servants'.

   Let us just take a clear look as to how Bain Capital enriches Obama's base:

Government-worker pension funds are the chief beneficiaries of Bain’s economic stewardship. New York-based Preqin uses public documents, news accounts and Freedom of Information requests to track private-equity holdings. Since 2000, Preqin reports, the following funds have entrusted some $1.56 billion to Bain:
Illinois Municipal Retirement Fund ($2.2 million)
Indiana Public Retirement System ($39.3 million)
Iowa Public Employees’ Retirement System ($177.1 million)
Los Angeles Fire and Police Pension System ($19.5 million)
Maryland State Retirement and Pension System ($117.5 million)
Public Employees’ Retirement System of Nevada ($20.3 million)
State Teachers Retirement System of Ohio ($767.3 million)
Pennsylvania State Employees’ Retirement System ($231.5 million)
Employees’ Retirement System of Rhode Island ($25 million)
San Diego County Employees Retirement Association ($23.5 million)
Teacher Retirement System of Texas ($122.5 million)
Tennessee Consolidated Retirement System ($15 million)
These pension funds aggregate the savings of millions of unionized teachers, social workers, public health personnel and first responders. Many of them would be startled to learn that their nest eggs, or even their current pensions, are incubated by the company that Romney launched and the financiers he hired.
Leading universities have profited from Bain’s expertise. According to Infrastructure Investor, Bain Capital Ventures Fund I (launched in 2001) managed wealth for “endowments and foundations such as Columbia, Princeton and Yale universities.” The Wall Street Journal’s James Freeman noted July 18 that Harvard “has also invested with Bain.”
Thus, Michelle and Barack Obama’s undergraduate campuses (Princeton and Columbia, respectively) and the university where they earned their law degrees (Harvard) all have enjoyed Bain Capital’s financial prowess.


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