Re: Public Employees for Privatization

[Doug Henwood <dhenwood@xxxxxxxxx>]

On Sep 13, 2007, at 12:06 AM, Michael Perelman wrote:

> The Sacramento Bee reports the giant California Public Employees'
> Retirement System
> is planning to use some of its money to invest in infrastructure,
> which is, of
> course, privatized infrastructure.
>
> http://www.sacbee.com/103/v-print/story/371759.html
>
> I wish that I could savor the irony of public employees financing
> privatization, but
> I guess I should learn to expect that sort of thing.

Hey, remember Calpers was at the forefront of the shareholder
revolution, pushing downsizing and outsourcing (not directly of
course, but that was the result). When I interviewed their chief
investment officer about 15 years ago and asked him about the irony
of workers' funds being used to push an anti-worker agenda, he said
their goal was to maximize returns.

Doug