Jim Kimmel to Rep. Cliff Hite: HB 151 unconstitutional and unfair

From Jim Kimmel, August 27, 2007
Subject: HB 151

Mr. Hite:
Why in the world would you promote and sponsor HB 151 concerning divestment of STRS and other public retirement funds? You as a retired STRS beneficiary should see the danger more than most. Or maybe you do not need the money or health care from STRS. Apparently not.Then send it to me because if this goes through the system will be weakened and we (who don't have other means) will suffer a great deal. STRS money is not the state's to play political football with -- it is money owned by the retirees.

151 will not work -- the terrorists will just laugh, especially because everyone else but the retirement systems will still be able to buy those stocks. UNFAIR! As long as we buy oil from that area of the world terrorists will have plenty of money.

151 is unconstitutional because states cannot conduct their own foreign policy. That is for Washington to do -- NOT COLUMBUS!

It will enrich the brokers and the bankers. UNFAIR AND YOU KNOW IT.

Please do not vote for this bill. It will affect people all over this state -- many of them your fellow teachers, active and retired. As well as police, firefighters, state patrol and many more. Do you drive a Toyota? Better get rid of it fast! Oh, and don't buy a Coke for lunch today, either. That would be WRONG. Oh, I forgot -- STRS can't buy Cokes but you can. This is the most ridiculous attempt to do the wrong thing and call it "right" and "patriotic" that I have ever seen in my 66 years on this earth!!

And we all know how the investment industry will profit from 151. It will cost the retirement systems millions to transfer out the "bad" stocks and buy equivalent "good" stocks to replace them. And it is so blatant it insults my intelligence.

James O. Kimmel
STRS Retiree
Ohio Air National Guard 1963-69
Proud CORE Member