CA Retirement Board rejects call to divest in assault-rifle retailers
In a clear rejection of the Liberal need to inject their toxic politics into every single aspect of our lives, the California Public Employees’ Retirement System(also called CalPERS) board voted 9 to 3 to reject the State’s call to divest in assault rifle retailers.
CalPERS manages pension and health benefits for more than 1.6 million California public employees, retirees and their families. The California Constitution, Article XVI, Section 17 reads:
“the retirement board of a public pension or retirement system shall have plenary authority and fiduciary responsibility for investment of moneys and administration of the system”
Well done CalPERS for this sensible investment decision! Guns are not going anywhere, they are our God given right, why not invest in our God given right? What message does divesting send? Because it isn’t a smart financial move, so why? To please a bunch of activists that will just move onto some other issue a week from now?
We can’t let social justice politics infiltrate every aspect of our government to the point we start draining money for no other reason than virtue-signaling to win elections.
The man who introduced the motion to divest is named John Chiang, he is the California State Treasurer…..and here is he on a plane talking to Hillary Clinton….
Geee, imagine my shock.
This is a clear sign that even Democrats are getting sick of Progressive politics influencing every single decision no matter how financially counterproductive that decision may seem.
Despite having to listen to grueling testimony from some of the victims of the Parkland massacre, they realized that the main priority of this particular board is to earn the most money they possibly can for the retirees. They literally can’t afford to allow “social justice” to influence their decisions. They have done that before, and it cost them dearly.
Let’s look at what happened the last time the board was forced to bend to the political whims of the Democratic party. Enter the
“Public Divestiture of Thermal Coal Companies Act”
This act basically called for the CalPERS board to divest in a number of coal companies in the name of fighting that dastardly climate change! Certainly a noble cause right? Well actually a lot of those coal companies are doing better now because Trump was elected the general outlook of the coal industry is a lot better so dumping all of those investments was a bad idea.
Good thing they learned from that mistake and this time they voted against the divestment call from a partisan with a biased agenda.
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