Wednesday, February 23, 2005

As long are you keep making money for us

Here’s a story in today’s WashPost about how labor unions are pressuring financial groups to back off from supporting Social Security reform that includes personal accounts. But they’re not so outraged at the investment firms to pull their pension funds out of the hands of private investors:

The union letters expressed "concern" about the investment firms' lobbying for the accounts and asked that it stop. But the letters didn't threaten to withdraw union pension funds from the management of the firms that don't change their view.
Mmmm…that’s some delicious irony there.

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