To the STRS Board: STOP THE BLEEDING NOW

From Kathie Bracy, March 19, 2009
Subject: Bailout

To the STRS Board:

To those of you who PERSIST in the mindset of bailing out millions of dollars of OUR pension money into the pockets of the already-rich investment managers at a time when our STRS pension fund is losing BILLIONS and BILLIONS of dollars and the Board Policy Manual CLEARLY gives you the authority to do otherwise at any time: WHY? Are you independently wealthy and it doesn't matter to you? Are you drugged with the thrill of power your position gives you? Are you getting kickbacks from somebody? Is somebody twisting your arm? I don't get it; but those reasons sound pretty plausible to me!

PLEASE wake up and STOP THE BLEEDING NOW! This is NOT the time to put thousands of lives at risk (yes, that's EXACTLY what you are doing) for whatever reason when you HAVE the power and the authority to help those who need it the most, especially in these difficult times. In case you haven't heard, these are NOT normal times with our ailing economy. You are making the rich richer at OUR expense. YOU are part of the culture of GREED that brought the nation's economy to its knees. Is THIS what you want to be remembered for long after you have served your term on this Board? Do you look forward to telling your grandchildren you hurt thousands of people because you gave their money away to rich people?

A HUGE thanks to those of you who "get it" and are doing all you can to wake up your somnambulistic colleagues. Your bonus will be our eternal gratitude, because that's ALL we have left to offer you, and we know you have the integrity to be satisfied with that. I know you can sleep tonight.

Kathie Bracy
STRS Retiree
http://kathiebracy.blogspot.com