mardi, février 17, 2004

I have some additional information regarding the Permanent School Fund. I need to finish earning my minimum wage, then I'll get it up here.

Short story: Typical of peabrain Republicans, they invested the funds in TRUST as though they were available for speculative ventures. This flies in the face of fiduciary trust. So they peed away about 1/3 of the corpus of the Permanent School Fund in spectacular losses in the stock market. They invested aggressively and riskily, rather than "conservatively" (love the way the nutjobs coopted that term).

These are the same bunch of assclowns that tell you that you can make more money if you invest your Social Security trust yourself. Tell you what, if you are even remotely tempted, get a book and review the different duties owend by a fiduciary to a trust and those of a speculator with investment capital to burn. Then think about how money for students and learning institutions ought to be treated.

posted by Rei Toei @ 4:55 p.m.