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Pension funds funded those destroying economy?

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posted on Sep, 18 2008 @ 01:27 PM
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Much has been said about how illegal and even legal short selling has helped to take the financials and the economy down.Thank God we are now starting to see some regulation of these activities. However this news came out today and I thought it was relevant as it helps explain how our goverment institutions have aided and abetted the economic collapse.

Calpers stops some share lending

Today Calpers announced that they are going to stop lending certain securities to short sellers. By default everything else in their portfolio continues to be available to be lent. Why is CALPERS lending what is ultimately state employees stock holdings to parties who intend to take down the prices of the very shares they own in the first place. For the most part all individual retirement accounts are barred by law from lending their shares to short sellers. If CALPERS is doing it, then probably all the other pension funds are doing it as well.

If I was a state employee I would be all over these folks running the state retirement funds. They are enabling those who are trying to destroy us. Is their anywhere you can go these days where folks are not continuosly trying to explit you? I am an invetsment advisor and I can plainly state that capitalism is an utter failure. Once those at the top of the chain have gorged themselves on all the food collapse is not far away. It is time to protect what little is left.




posted on Sep, 18 2008 @ 01:33 PM
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Complety agree 100% great words spoken, I work for HBOS and just opened a thread with a similar mindset. Have a read you may be intrested in commenting my thread

Cheers thanks for shouting about this wish more people would pay attention to whats going on.

Regards
Paul



posted on Sep, 18 2008 @ 02:56 PM
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reply to post by disgustedbyhumanity
 


Great catch. I suspect we will find that this practice was common among the 'let's make a quick buck' types.

I hope everyone in a state position questions their benefits people about their own pension-holders practices.

Starred and Flagged!



posted on Sep, 18 2008 @ 09:48 PM
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None of you seem to have any idea how trading equities actually works. I think you need to do some research before you start spewing the same nonsense you hear on the television.

It is very simple. Without short covering rallies, we will begin to see dramatic down days in equities. Can you say 'No Bid'? Do you even know what they means?

Go look at Fannie (FNM) and other financials after they banned short selling of their stock. That worked out real good, didn't it?



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