The coming Democratic hypocrisy about their coming NON-divestment from Bain Capital.

Let me summarize this NRO article by Deroy Murdock: Democratic (specifically, Barack Obama’s) rhetoric about Bain Capital has not particularly stopped Democratic-aligned organizations from investing with it.  This includes groups like government employee pension funds ($1.56 billion since 2008), universities ($at least 425 million between 1998-2008), ‘center-left foundations and cultural establishments’… and my personal favorite: the California State Teachers’ Retirement System (CSTRS), which has invested $1.25 billion with Bain Capital. And I want to highlight what CSTRS told the Boston Globe about why:

A spokesman for the system, Ricardo Duran, says in an e-mail that its fiduciary duty to 856,000 members and their families is paramount. “With that as a backdrop,” he says, “the scrutiny generated by a heated election year matters less than the performance the portfolio generates to the fund.” And private equity, Duran says, has been the best-performing asset class in the system’s portfolio over the past 24 years.

Continue reading The coming Democratic hypocrisy about their coming NON-divestment from Bain Capital.

Barack Obama’s convenient Wall Street hypocrisy.

I just had it forwarded to me that Barack Obama is doing a 2 million dollar fundraiser today with Tony James, who is the head of the Blackstone financial services group. So… why should you care?  Well, two reasons:  first off, in February of this year Tony James criticized anti-Romney ads that attempted to demagogue Romney’s relationship with Bain Capital.  James felt that they were generally attacking the private equity industry itself, which they generally were… and which also makes one wonder what James plans to do when this becomes the entirety of Barack Obama’s message in September:

Then again, Tony James isn’t too worried: if Obama wins, he gets to enjoy the benefits of class collaboration that comes when one voluntarily brings one’s particular syndicate into full alignment/cooperation with the wishes of the Leaders of the corporative State.  And if Romney wins, well, Republicans have never been big on proscription lists*. Continue reading Barack Obama’s convenient Wall Street hypocrisy.