Comments on: Let’s hear it for the Indiana Teacher’s State Retirement Fund https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/ A blog about political change, among other things Fri, 22 May 2009 14:48:52 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Don Janousek https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110124 Fri, 22 May 2009 14:48:52 +0000 http://neoneocon.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110124 The underlying legal principles of the validity of contracts and the prohibition against ex post facto law-making are the real issues at stake here. Commercial law has long recognized the priority of creditors who possess perfected security interests in property under the laws of contracts and the Uniform Commercial Code, and, absent a waiver of those interests, or if the creditor does not agree to a novation of the underlying contract, then the government has no legal right to negate them. Moreover, the element of “good faith,” both a contractual and commercial law term, comes into play here. The security interests were entered into in good faith on the part of both the creditors and debtor, Chrysler, premised upon the then-existing laws of contracts and commercial law, and it is ex post facto manuvering to now attempt, as the government is doing, to obviate that good faith premise. The need for “grandfather clauses” in some statutes attests to this fact. But, like the fellows who didn’t “need no stinkin’ badges,” the Obama Administration doesn’t seem to “need no stinkin’ laws.”

]]> By: jon baker https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110086 Fri, 22 May 2009 00:49:41 +0000 http://neoneocon.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110086 All I can say is “Yes we can”

]]> By: Mrs Whatsit https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110085 Fri, 22 May 2009 00:24:24 +0000 http://neoneocon.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110085 Very interesting. One consequence of this may be to publicize the inconvenient fact that some of those bad greedy giant secured creditors whom we are being encouraged to hate are . . . pension funds for retired teachers from Indiana. Not quite so evil, after all, perhaps?

]]> By: SteveH https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110084 Fri, 22 May 2009 00:18:59 +0000 http://neoneocon.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110084 Lets hope liberal groups begin consuming each other. This looks like a good start.

]]> By: Assistant Village Idiot https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110083 Fri, 22 May 2009 00:11:30 +0000 http://neoneocon.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110083 I am glad that the pension fund is suing, and I hope more follow. But I worry that many people will ultimately be fighting over much less money than they hoped…
…on account of these government managed businesses not thriving.

]]> By: njcommuter https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110062 Thu, 21 May 2009 20:15:14 +0000 http://neoneocon.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110062 And, since this is a union pension fund, and not just an investment company representing ordinary people whose retirement is at stake, Obama can’t beat on them for being greedy.

]]> By: Occam's Beard https://thenewneo.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110060 Thu, 21 May 2009 20:06:34 +0000 http://neoneocon.com/2009/05/21/lets-hear-it-for-the-indiana-teachers-state-retirement-fund/#comment-110060 It’s things like this that make me think liberals are morons and/or hopelessly duplicitous.

Sure, they excoriated the hedge fund managers using appropriate populist rhetoric, but apparently either didn’t know, didn’t want to know, or chose to ignore where hedge funds get much of the money they invest. Even when it was pointed out to them that hedge funds typically are investing pension funds, liberals persisted in demonizing the hedge funds.

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