Bloomberg the hypocrite
Calling King Michael A. Bloomberg a hypocrite is like calling water wet. So, what has his imperious shortness done this time? As you know, New York rammed through a blatantly unconstitutional ban on firearms about a month ago.
Since then a number of public sector pension systems have decided to cut their own throats divest their portfolios of any stock in companies that manufacture guns or ammunition. Never mind that sales for these products are at an all time high, and the companies are making money hand over fist. These pension systems, which are meant to insure a good return for those receiving pensions, decided to do the Politically Correct thing, otherwise known as the stupid thing, and sell their positions.
There are only a few manufacturers that are publicly traded. Companies such as Smith& Wesson and Sturm/Ruger are two that I know of. Others are wholly owned subsidiaries of larger companies. (Note, I own shares in the companies mentioned) Now what has this to do with the Nagging Nanny of New York City you ask?
Simple really. Bloomberg’s representatives on the Teachers retirement board voted against the divestiture. Since Bloomberg wants to confiscate all firearms from private citizens, and the National Guard, this is rather hypocritical. Here’s the story from Fox News:
New York City Mayor Michael Bloomberg is no fan of the gun industry, but his representative on the board that oversees the pension fund for city schoolteachers voted against a proposal to drop investments in companies that sell firearms or ammunition.
Trustees of the $46.6 billion New York City Teachers’ Retirement System approved the divestment last week in response to the school massacre in Newtown, Conn.
The only vote in opposition was cast by Bloomberg policy adviser Raymond Sarola.
He said in a statement that pension decisions should be based only on “what’s best for pensioners.”
This is called “Fiduciary Responsibility” and is what pension managers are supposed to do, not play political games with other people’s money. (And that is what the pensions are. The money of retired and retiring teachers, even if they don’t really deserve it)
A Bloomberg spokesman says the mayor didn’t tell Sarola how to vote and doesn’t get involved in pension fund investment decisions.
And if you believe that, Shorty Bloomberg has a few bridges he would like to sell you. Of course he talked with Sarola, but he did it in a way that can’t be traced back. (No, I don’t think this is a conspiracy, it’s just good business sense)
Bloomies is and always has been a jumped up petty little tyrant with delusions of political competence. I so love it when we get the chance to show what a phony he is as well.
~The Angry Webmaster~