UH Oh, Jeb Bush's Administration Steered Florida Pension Money to George W. Bush’s Fundraisers!

[yortsed snacilbuper]

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Florida shifted billions of dollars in state pension funds during Jeb Bush's (right) tensure as governor to firms that donated milllions to his brother George's presidential campaigns
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link

[Octafish]

1. UBS is Phil Gramm's new home.

Regular Buy Partisan Who's Who of Ways to Help the Wealthy Stay that Way:

http://financialservicesinc.ubs.com/revitalizingamerica/SenatorPhilGramm.html

[NoJusticeNoPeace]

2. And, your average con and teapartier, even if you can get them to accept these facts

will not care ONE bit about this.

They dont care if their candidate goes on live tv, lines up 25 infants and shoots each one of them, as long as their candidate has any excuse for doing so, such as they are all babies who you know are going to grow up wanting welfare, etc.

I really dont think I am exaggerating.

I really think that before they can vote for a liberal, whether our candidate is one or not, they have to have a lobotomy.

Their brains are so full of hate and intolerance and lies, NOTHING can fix them short of scrambling their brains somehow.

[Mnemosyne]

3. Shocking, just absolutely shocking. nt

[madfloridian]

4. Also used pension money to bail out Edison charter school company.

http://journals.democraticunderground.com/madfloridian/5960

While Liberty was bidding for Edison, it was also negotiating renewal of its contract with the Florida State Board of Administration, which oversees the pension fund. An outside consultant to SBA, Alignment Capital, produced a series of scathingly critical reports on Liberty Partners from April 2002 to early July 2003. It recommended, for example, that SBA should "terminate the relationship as soon as possible" if it could not renegotiate terms. Alignment found that Liberty's investments were poorly chosen, were inadequately diversified, and performed badly for the level of risk in its portfolio. Its records were in "shocking...disarray," and its fees "particularly egregious." Alignment recommended that Liberty not invest in both equity and debt of a company.

As the sole trustees of SBA, Governor Bush and two other state elected officials have ultimate responsibility for the retirement system's investment strategies and relationships with its investment managers, like Liberty. Unlike with pension funds in many other states, the beneficiaries--current workers and retirees--have no direct representation or voice. The executive director of SBA is Coleman Stipanovich, whose brother is J.M. "Mac" Stipanovich, a highly influential Republican fundraiser and lobbyist who has been a political strategist for both Jeb Bush and former Florida Secretary of State Katherine Harris (of 2000 presidential election fame) and chief of staff for former Florida Republican Governor Bob Martinez, later Edison's lobbyist in the state."

Katherine Harris, Jeb Bush, Coleman Stipanovich, Mac Stipanovich...Governor Bob Martinez, the lobbyist for Edison.

This article is from The Nation 2004, and the names are very telling.

http://www.thenation.com/article/how-edison-survived

[Trillo]

5. How our founders strictly limited the power of corporations.

• Corporate charters (licenses to exist) were granted for a limited time and could be revoked promptly for violating laws.


• Corporations could engage only in activities necessary to fulfill their chartered purpose.


• Corporations could not own stock in other corporations nor own any property that was not essential to fulfilling their chartered purpose.


• Corporations were often terminated if they exceeded their authority or caused public harm.


• Owners and managers were responsible for criminal acts committed on the job.


• Corporations could not make any political or charitable contributions nor spend money to influence law-making.

http://reclaimdemocracy.org/corporate-accountability-history-corporations-us/