Bolivia nationalizes natural gas industry

[notyoueither]

Originally posted by KrazyHorse


Actually, you do.

When governments create pension funds they generally decide who gets to run them. Some countries set up an independent investment board to run them (Canada, since 1997). Other countries run them directly (US). Some countries switch back and forth. Some (most?) governments run the public pension fund abusively.

'The public pension fund'? Are you assuming this is the Bolivian SocIns fund? I am not.

And besides, pension funds are seldom run with public wellfare in mind, except that of the contributors to those funds.

They are not vehicles for national policy unless they are very poorly run.

Thank you very much for playing.

[KrazyHorse]

Originally posted by notyoueither
Here's the punch line, KH.

He's nationalising the industry. Ring any bells? Do any shareholders get their due?

So is it the nationalisation of the petro industry or the administration of the pension fund that you're calling theft?

If the shareholders don't get their due then the pension fund was going to get ripped off regardless of who was the manager. The ****ing finance company running those shares previously wasn't going to be able to protect the fund one iota from the nationalisation.

[KrazyHorse]

Originally posted by notyoueither


'The public pension fund'? Are you assuming this is the Bolivian SocIns fund? I am not.

WTF else do you think it is?

[KrazyHorse]

They are not vehicles for national policy unless they are very poorly run.

Just like the US SS fund? What do you call a RoI of 2% resulting in cheap loans to the federal gov't?

[notyoueither]

Originally posted by KrazyHorse


WTF else do you think it is?

Anything.

It could be like the QPP.

It could be like the Alta Teachers Asso fund.

Anything.

You have jumped to large colusions that this isd the Bolivian equivalent of the SocIns fund.

[notyoueither]

How much screaming do you think would happen if the GoC nationaisled something and demanded shares from the QPP?

Answer honestly, please.

[KrazyHorse]

QPP

Uh...the QPP is the exact same thing as the CPP, only created and administered by the provs instead of the feds. Which is, by the way, why we don't contribute to CPP in QC

[notyoueither]

Originally posted by KrazyHorse

They are not vehicles for national policy unless they are very poorly run.

Just like the US SS fund? What do you call a RoI of 2% resulting in cheap loans to the federal gov't?

In this thread?

A UR manoeuvre.

[KrazyHorse]

Originally posted by notyoueither
How much screaming do you think would happen if the GoC nationaisled something and demanded shares from the QPP?

Answer honestly, please.

Given that there's no mention of any other level of government being involved in this, your question is ridiculous.

[notyoueither]

Originally posted by KrazyHorse

QPP

Uh...the QPP is the exact same thing as the CPP, only created and administered by the provs instead of the feds. Which is, by the way, why we don't contribute to CPP in QC

Bingo, buddy.

The intrerests of the people of Quebec might not be the same as those of the GoC.

Understand?

[notyoueither]

Originally posted by KrazyHorse


Given that there's no mention of any other level of government being involved in this, your question is ridiculous.

You are running with 'public pention fund' to mean the same as the Bolivian federal equivalent of SocSec.

I think you are the one being ridiculous.

[KrazyHorse]

Originally posted by notyoueither


In this thread?

A UR manoeuvre.

Not at all. The US federal gov't runs the public pension plan. It "invests" the money in loans to itself, which provide a RoI much lower than would be provided by any reasonable investment strategy, and which allow the gov't to get cheap loans. So if Morales manages to provide a RoI of greater than 2%, and he's stealing, is the US federal gov't stealing too?

[notyoueither]

They would hardly be demanding the surrender of shares they owned, would they now?

[KrazyHorse]

Wrongo, son.

As I said, the pension fund is the Bolivian CPP or welfare

http://www.bnamericas.com/story.jsp?sector=11&noticia=353654&idioma=I

Bolivian pension fund manager AFP Futuro is in talks with the government to give up its management control in the collective capitalization fund FCC, AFP Futuro chairman Gonzalo Bedoya told BNamericas.

The FCC is used to pay the benefit called bono solidario (Bonosol), a fixed payment to those over 65 years of age on December 31, 1995. The main objectives of the Bonosol are to provide pension coverage for those outside the formal pension system and to distribute the profits of the capitalization program.

You can apologise at your leisure.

[KrazyHorse]

The new decree also enables the Bolivian government to retake control of Bolivia's partially privatized companies Chaco, Andina and Transredes. Previously, private investors held a 50 percent stake in the companies, with the remaining shares held by a state entity (FCC) managed by pension funds

http://www.latinbusinesschronicle.com/reports/reports/050806/bolivia.htm

You need any more proof of what the FCC is?

Hell, it's not even the CPP. It doesn't even look as though it's funded by its beneficiaries. Who the **** is Morales stealing from?