Comments on: Banking and finance roundup

By: Steve

Steve — Mon, 11 Jun 2018 15:07:46 +0000

So it’s not really DOL talking about corporate governance and shareholder initiatives per se as much as it is DOL talking about the duties of pension fund managers? That makes sense. I am no longer confused about that item.

By: Walter Olson

Walter Olson — Sun, 10 Jun 2018 01:32:09 +0000

Specifically, the managers are legally under a fiduciary obligation to act in the fund beneficiaries’ interests. Although other government entities (or courts) take the lead regarding fiduciary obligations of other types of fund managers, the Labor Department gets involved in pension management since that is considered a labor issue.

By: Hugo S. Cunningham

Hugo S. Cunningham — Sun, 10 Jun 2018 01:19:12 +0000

@Steve–
They are saying that pension fund managers, representing employees with a wide spectrum of political opinions, should stick to the common goal of profits.

By: Steve

Steve — Sun, 10 Jun 2018 00:30:58 +0000

Confused on the corporate governance thing, and not just about why is the Department of Labor opining (doesn’t seem an issue that “labor” is an appropriate label for). Are they saying shareholders (those are owners, right?) aren’t allowed to have goals with their equity besides profits?

By: cc

cc — Fri, 08 Jun 2018 02:24:09 +0000

“Corporate social responsibility” always always means leftist causes. It never means encouraging marriage, hard work, responsibility, church-going, or starting a business.

By: Canvasback

Canvasback — Wed, 06 Jun 2018 03:46:32 +0000

The cashless concept has spawned something here at home called the “Better Than Cash Alliance, with the United Nations Capital Development Fund, the U.S. Agency for International Development, the Bill and Melinda Gates Foundation, Omidyar Network, Citi, Visa, and Mastercard all reportedly donating $1.5 million or more per year.”

Might be all you need to know. Two problematic agencies, two charities for a veneer of altruism, and the real power behind the movement – banks that collect cashless transaction fees.