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.

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