Last week, Emanuel ordered a portfolio analysis from the five pension and retirement funds for Chicago employees to determine if fund managers hold financial interests in companies that manufacture or sell assault weapons.
This week, the Chicago Municipal Employees Annuity and Benefit Fund (MEABF) board voted to divest more than $1 million from three companies that manufacture assault weapons – Freedom Group, Smith and Wesson and Sturm Ruger.
This is the mentality of a mobster. Gun manufacturers make a lawful product, and this is thuggish intimidation, and a disgrace to every value Obama and his lickspittles pretend to espouse.
sam may get a chuckle from this comment (this is in IL, and in Chicago) … this move may also be a violation of the board’s - collectively and individually - legal fiduciary responsibility. However the fund came to have those stocks, about the only valid reason for selling them off entirely like this is if the stocks were unprofitable (or insufficiently so). Clearly that was not the reason for this sell-off.
I’m thinking Bloomberg and Emanuel are in a contest to see who can establish the most tyrannical city government in the country. They’ve both blown well past the puppy and happy meal in San Fran so the West coast is out of the running.