Monday, March 09, 2009

Pension Funds

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Now for something completely different! In a recent edition of the Financial Times newsletter an article about a Canadian pension fund including this ranking of the "Top 10 North American pension funds, 2007":

1. California Public Employees
2. Federal Retirement Thrift
3. California State Teachers
4. New York State Common
5. Ontario Teachers
6. Florida State Board
7. General Motors
8. New York City Retirement
9. Canada Pension
10. AT&T

So does anything in this list catch your attention?

How about the fact that 8 out of these 10 pension funds are for government employees. Perhaps we can even say that "9 of these 10" are for government employees given the massive amounts of tax dollars poured into General Motors.

Instead of sticking their hands in the pockets of taxpayers for a bailout perhaps the General Motors pension fund should have simply given General Motors a loan since this fund clearly has resources -- US$133.8 billion -- which is a better option for everyone concerned.

Yours in tax slavery,


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