RH Jones to John Raughter re: "Portfolios of Terror"

From RH Jones, May 23, 2007
Subject: Fw: "Portfolios of terror" a "Rapid Fire" June 2007 Legion page 66

Kathie,

Damon told me that:" ... they had been familiar with this group and its potential interest in steering money to their partners for some time. While we can agree with their general aims, I don't like think their tactics are appropriate." Kathie, I totally agree with Damon on this.

RHJones

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From RH Jones, May 23, 2007

Subject: "Portfolios of terror" a "Rapid Fire" June 2007 Legion page 66

Dear John Raughter, American Legion Editor:

As a patriotic American, I disagree with the Center for Security Policy (CSP) effort to divest American businesses and public retirement systems of the freedom to invest where they think they can get the best return of profits. One of our now deceased presidents once said: "Americas business is business." Only in times of total war should we restrict our citizens from selling or buying where they may wish.

Ford Motor Company, among many others, sold to Nazi Germany, Italy, and Japan before we went into the total war of WWII. They now sell cars in Iran and in other terrorist nations. Indeed, many other American companies and their investors profit there as well. Legionnaires, we are not in total war. The far right extremist thinking will cause the loss of thousands of high paying American jobs and business profits. Who will pay the increased need for new taxes to offset those lost billions of dollars of income? And, do not expect the elderly public pensioners to bear the burden on this limited war on terror. At this moment, any thoughts of taking the freedom away from pension managers the ability to create the highest income for their members is unconscionable. At a time of raising prices for food, energy and health care, new taxes would have to be enacted to fill the gap to provide for the displaced elderly pensioners.

Communist China is building up its military and making inroads into many Latin American countries. Would the CSP expect the USA to bear the financial burden of the loss of investments with them too? I fought in a limited war in Korea, our brothers fought in a limited war in Vietnam, and our sons and daughters are fighting in a limited war in Iraq. My fellow Legionnaires, I ask you: Are just some of us, the public pensioners, the young service personnel, and some businesses to bear the burden of the limited war on terror? Or, are we all to equally share the burden? And, is it worth the risk of total war? Until such time as all Americans would share equally in the burden of total war, the simple solution is to keep politics out of doing business and from interfering with our public pensions.

With all respect,

Robert Hudson Jones,
Life Member of the American Legion, and a Member of the Ohio State Teachers Retirement System