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Wednesday, January 6, 2010

SB 21 Prohibits "Social Investment" Restrictions on SDRS Funds

Newly posted on the state legislature's website, a bill to inspire comity in the blogosphere: SB 21, which Pat Powers and I agree deserves a big "Do not pass." SB 21 is a prohibition on "social investing" restrictions on state investment funds.

Let the Wobbly Democrat in the room translate: SB 21 is big-government elitism. It's bureaucrats in Pierre telling you that they know better than you, and that lowly citizens (i.e., shareholders... i.e., the people who pay the money into the system and who pay those bureaucrats' hefty salaries) have no business telling them how to do their job. SB 21 says that the state will invest your money wherever it thinks it can turn the fastest buck, even if that means investing in places where your money may fund roadside bombs, political oppression, and genocide.

I look forward to hearing which of our legislators is willing to take the side of Iran and Sudan on this one. I also look forward to Rep. Dan Lederman's counter-legislation to put at least a drop of morality in our state investment system.

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