Consider the consequences without corporate America
An observation from the Aug. 16 Buffalo News: On Page A7 New York State Comptroller Thomas DiNapoli reports that the state pension fund reached a record high: “Solid performance in domestic and global stocks.”
On Page A9 in Everybody’s Column, one irate letter writer complained of greed as he names “corporate America, CEOs, Wall Street, hedge funds and government politicians.” I think he should also include the union bosses who continue to raise the cost of living, especially in New York State.
So what would happen to the state pension fund if they did not invest into corporate America, Wall Street, hedge funds?
That letter writer and the rest of us would probably have to pay for the shortage of the state’s pension needs.
Anthony F. Frandina