Hoosiers Screwed

On May 6 I wrote about the debtors holding note against Chrysler being robbed: "He has willed controlling ownership to the UAW. A nice bequeath. Not overly valuable since there are all those debts attached. To name a few I would include a couple billion due We The People, a large hunk due those lenders that Obama does not stand with, the pensions and very generous benefits due Chrysler retirees, and an unknown amount due parts makers, utilities, and taxes."

The State Treasurer put numbers to my claim. Richard Mourdock said that the changes made by Obama to investment rules in bankruptcy have cost many Hoosiers. He listed losses including $4.6 million in The Indiana Teachers' Retirement Fund (they hold $6.9 million holdings).

Mr. Mourdock said the losses should not have happened. Obama placed the financial interest of others above secured lenders. "It's just flat-out wrong. It's not right that state policemen and teachers suffer this loss."

The current administration's answer to this claim: "Indiana workers and their families know that saving American jobs must be a top priority during these difficult economic times, and that's what the administration has done."

For the better good. Not for what is right. Not what is the law but what is best for the common good. Common good. Communistic?

Richard Mourdock is revamping his office's policies to specify that investment managers should not buy more secured debt from companies receiving federal bailout $. He urges other managers of Indiana retirement funds to do the same, like the universities.

Take federal $, be considered poison to investors and Hoosier retirement funds.

Meanwhile the dictator gets away with breaking the law and stealing from over 41,000 retired teachers in Indiana -- for the common good.

'til later