This site is kept by Boyce Richardson, journalist, writer and documentary filmmaker, of a leftist persuasion.
Wednesday, May 30, 2018
Link of the Day: May 30 2018: Kinder-Morgan Fiasco: The Cat Is Out of the Bag at the Canada Pension Plan Investment Board
It has always seemed anomalous to me that the
vast funds held for investment by various pension funds tend to be invested not
in the interest of workers, but according to the rules of the financial
markets: that is, they are obliged to seek the highest-paying investments, regardless
of their social purpose. The fact that the government is apparently depending
on these funds to bail them out of their ridiculous self-created dilemma over
the Kinder-Morgan pipeline is he basis of a thoughtful article by activist Bob
Farkas in a recent Bullet published by the Socialist Project. He posits all
sorts of socially progressive ways this money could be put to use to the
benefit of ordinary Canadians, and especially of workers, while maintaining the
security of the funds in relation to their pension benefit progammes, and the article may be read here.