RH Jones: What divestment advocates don't understand -- it's OUR money

From RH Jones, September 11, 2007
Subject: What pro-divestiture advocates do not understand!

To all:
In questioning 2 pro-divestiture guests on 09/10/07, Fox News Network TV left out an important point: THE MONEY IS OURS. This is NOT public money! Their guests said that: “It is public money.” That which Fox News left out was hurtful to thousands of active and retired members of state public pension funds across the country.

Legally after the public employer, and the employee, place their money into the State Teacher’s Retirement System of Ohio, it belongs to the members of that system. It is not, then, up to the public to decide what stocks the STRS managers should purchase or sell. The STRS Ohio board and managers are required by law to get the BEST RETURN for their members' investment.

Our federal government is to decide foreign policy. That division of government is to punish our nation’s enemies; that should not be left up to our public pensions investment employees. If the Feds wish to divest American’s money, from any particular foreign country, they are to do it in a way that is fair and proper for all citizens. Only to select state retirement systems, and just some companies, and not everyone, is unlawful discrimination.

God bless our troops. As a veteran, I sympathize with the soldier in the field in Iraq. But, I do know that these soldiers are not fighting there to protect economic discrimination in America; they are there to support the Constitution of the United States of America. In fact, they must swear to protect it when they volunteer for military service and take that fateful step forward.

Federal politicians swear allegiance to the Constitution as well; therefore, no matter how noble divestiture may sound, they should not make decisions on emotions. Any reasonable American would want to deny our nations enemies financial gain. But to do it in a manner that is economically unjust to state public pensions, is not the right path: Equal protection under the law is! That is my opinion.

Robert Hudson Jones, a retired STRS of Ohio member and a proud member of the Concerned Ohio Retired Educators (CORE)