The Dangers of Pension Greed

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This is something that really pisses me off. When someone works hard all their life and puts money aside in a pension, that pension should be secured. All too often we hear of large pensions just disappearing and that is absolutely criminal.

The problem is corporate greed. Big companies see the large amount of money in pensions and they want access to it. They want to take that money and invest it in high risk stocks to create even higher returns on the money. Well fuck off.

The recent stock market crash seems to be affecting everything and was another manufactured emergency. What was the cause of the great depression? Buying stock on margin. What was the cause of the last stock market blow out? Greed resulting in investing in high risk stocks and investing on margin. Business hasn’t changed. People make products or offer services and still turn a profit. What changed was the domino effect of high risk investments going belly up.

Pensions should not be invested in high risk stocks. Period. I don’t care how much money is sitting in them and I don’t care how many greedy little snake oil salesmen wanna get their greedy little mitts on that money, use it and return it without anyone every knowing. Guess what. You fucked up and we noticed and the ripple effect of that fuck up has been far reaching.

Don’t even get me started on Moya Greene: http://finiansworld.blogspot.com/2008/11/canada-post-pension-loss.html

She is not good at business. Stop letting her tell you that. She is destroying the company because of an extreme political agenda to privatize everything under the sun just because they think that will work better. Well guess what, it doesn’t. Business wants to remove public accountability. That is the Moya Greene Mandate: http://www.moyagreene.com/#mgm

Let’s think about the stock market for a minute. Let’s remember why Vancouver doesn’t have a stock exchange any more. They were corrupt! Ya think those crooks went honest when they merged with the TSE? Ya think those crooks from the NYSE are any more honest? Not likely. It’s all about making a quick buck and no one gives a rat’s ass if the stock exists or not. If the fake stock will balloon on speculation alone, then those crooks will exploit that frenzy and make a buck off it. As long as they pull out and screw the next guy before they get screwed. Not only is it dishonest, it’s high risk. http://finiansworld.blogspot.com/2008/10/bre-x-and-stornoway.html

Can’t you see that privatizing everything under the sun is also problematic? We need more public accountability not less. We need to address corporate corruption not sweep it under the carpet. Our future, not to mention our children’s future, depends on it.

Pension Thieves - Name and Shame: http://www.independent.ie/business/irish/name-and-shame-pension-thieves-78171.html