For those who think capitalists are dirty, profit seeking junkies that are detrimental to those who don't have look where public employees are putting their pension money to create wealth.
Public Pensions Increase Private-Equity Investments
Large public pension plans are pouring more money into private-equity funds, deepening ties between government workers and an industry currently under the harsh glare of U.S. presidential politics.
Big public-employee pensions had about $220 billion invested in private equity in September, or 11% of their assets, according to Wilshire Trust Universe Comparison Service, which tracks the holdings of pensions, foundations and endowments.
AFSCME blasts Romney About Bain Past
The American Federation of State, County and Municipal Employees, or Afscme, one of the nation’s biggest public-workers unions, has members with billions of dollars invested in about 150 pension funds, some of which is invested in private-equity funds, WSJ reports Thursday.
That wouldn’t be that surprising, given the union’s pension fund is meant to make its members money, and PE firms can do pretty well in that whole money making job.
But, the WSJ story is about the fact that Afscme and other pension funds for public workers have made quite a lot of noise about Mitt Romney’s work at private-equity giant Bain Capital.
They emulate what they blast Romney for. Romney shouldn't duck questions about his wealth. He should remind the American people how successful he is and that is what we need as a President. Last election the majority put an amateur in there and look what we got.
Look at unemployment during the Bush years and Obama's term.
You will see this chart chopped for those who want to skew the data.
President Bush’s overall record continues to look far better than President Obama’s to date. Over President Bush’s presidency, the private sector created a net 141,000 jobs. Surprisingly, this number includes the 3.78 million private sector jobs lost in 2008. In contrast, under President Obama’s administration, the private sector has still lost a net 2.91 million private sector jobs. If I blame Bush and Clinton for the January 2009 and January 2001 numbers, respectively, the private sector would still have lost 2.07 million private sector jobs under the Obama administration.