Another big surprise from the Michigan executive. Yesterday, Granholm let us know of a new $300 million program that will invest a small fraction of the state’s public pension money in promising Michigan companies. Raiding pension funds, and picking promising companies… Uhh Jenny, My Momma used to say that “stupid is as stupid does.”
While the “raiding” is merely 0.5% of the fund’s overall value it sets a pretty poor example as this governor tries to find ANY funds available to blanket the dead bodies strewn about this massive economic train wreck of a state we know as Michigan. While we look on, and hope she picks the “right” companies for investment, try to remember the stories of day trading from a few years ago leaving many a gambler high and dry, or at least looking for a window that opens from a tall building.
Recently, there was a story of a woman in this county who embezzled from her union by means of ATM transactions at the local casino. Granholm seems to have HER card ready for this great big game of hold-em. In fact Granholm has recently proved to be quite the poker player, with financial ties suggested to the recent RMGN initiative, but without the disclosure. Wow! Straight faced and stoic! Sorry lady, I ain’t foldin… CALL!
Gambling with pension funds by government is no better than gambling with pension funds by the Unions or big business. If it’s not YOUR MONEY keep your paws off it. Granholm and crew could not be trusted with the money LEGITIMATELY collected from the serfs around the state, and should HARDLY be trusted with holding the wallets of those who have paid in by contract to the pension fund. While I support smaller numbers of government employees, I recognize the potential crisis they face alongside of everyone else in Michigan, if she doesn’t put the ATM card away.
Investing, is a game that should be done by professionals. People who have realistic analysis mechanisms in determining whether a business will work, then finding the appropriate investors who will voluntarily fund the investment. Our governor, like many of the most far left socialist elements in the world, feels that government’s role is to puppeteer business and with phony incentives and irrelevant job training programs. But instead of strings attached to our arms and legs, we get the stick.
Lady, I got a straight.. and I KNOW you don’t have a full house…..