Nice summation, Larry. We need more of your great input on the finance threads I continually
post along with ernest, gramps, rohry and d14 truth. Hope you won't mind being on my ping list.
"Now, the roving ambassador of cash has been hired as a "senior adviser" at two investment funds that specialize in "lower-income urban and rural communities."
The funds, the Yucaipa American Fund and the Yucaipa Corporate Initiatives Fund were founded by Ronald W. Burkle. Clinton has been chummy with Burkle for some time, to the extent that he has often stayed at Burkle's grand-scale home.
Burkle was one of Ron Brown's tradegate buddies, traveling on the shake-'em-down trade missions that Brown was noted for, Burkle is also a managing trustee of the Democratic National Committee - a title bestowed upon party producers who have raised $200,000 or more for the Democrat party.
Yucaipa has already formed a "partnership" with the Golden State's, oh so politically correct, California's Public Employment Retirement System [CALPERS] which has bellied up to the bar to the tune of $200 million. All of which is California State employee's pension money and all of it going to a company with absolutely no investment track record.
Where CALPERS' zealotry ends and its fiduciary responsibility begins is anyone's guess at this point.
The Yucaipa strategy of using Democrat party shills like Clinton to channel additonal money from public employee pension and similar holdings into their own pockets is sinister but par for the course with this bunch.
That Clinton apparently has no reservations whatsoever - in the face of his party's repeated castigation of the Republican's alleged lack of concern over Social Security pension funds - that his newest meal ticket may help deprive state workers of similar retirement opportunities - is also not surprising."