Blue-state pension funds act to balance GOP control in Washington

[Khephra]

SACRAMENTO -- On issues from global warming to corporate reform, public pension funds controlled by union officials and Democrats in states carried by Democratic presidential candidate John Kerry increasingly see themselves as counterweights to Republican control of the nation's political agenda.

As Bush plans a second term, multibillion-dollar investment funds _ especially in so-called "blue states" such as California, New York, Connecticut and Illinois _ have already forged alternate agendas on clean energy, the environment, executive pay, even gay marriage rights that can run counter to "red state" values.

They also view themselves as an increasingly important check on corporate power under a Republican-dominated government that typically promotes fewer regulations on business and financial markets. Their muscle comes in the billions of dollars invested in corporate America.

"We've had no choice but to step up," said California's Democratic state Treasurer Phil Angelides, a director of the nation's largest and third-largest pension funds with combined values of nearly $300 billion. "This administration has turned its back on ordinary investors, or on issues of substantial concern to our economy."

http://www.newsday.com/news/local/wire/ny-bc-ct--pensionpower1126nov26,0,710807.story?coll=ny-ap-regional-wire

[Mirwib]

1. Interesting

[bushnboots]

2. Hit'em hard where it hurts most

A coordinated effort among Blue State officials could have significant impact...hope this gets airing in financial circles AND Red States.

[mom cat]

3. Hit them below the belt

in the wallet.

[DeepModem Mom]

4. kick

[loudsue]

5. It's about time the SANE people started using muscle to fight corp. crime

and the bush agenda! This is super!

The biggest problem is the fraudulent voting machines will target these positions in 2006/08 elections, to replace them with neocons.

If we don't get blue states to lock-out Diebold, ES&S, and the other crooked vote machine counting companies, we'll never see another Dem elected to ANY position of power.

The VOTE is the key to every single aspect of our government, and if we don't get that straightened out, it can only get worse with every election.

The Blue States have to push for new laws on voting machine ethics and accountability across the country. Paper and pen is the only way to vote, and the programming in EVERY machine has to be checked by representatives from both parties before, during and after EVERY election. We need automatic audits across the country.

If we don't take to the streets while this issue is HOT, we're going to find ourselves in this same position in another 2 years: more Dem losses in important KEY positions in every State government.

:kick::kick:

[sandnsea]

6. I said this 3 weeks ago

All Democrats have to do is start transferring their investments and organizing to force their company 401K's to invest responsibly. That's where the real power lies. We could turn this shit around in a day.