Why is California bankrolling Putin?

American Thinker:

The piously politically correct blue state that bankrolls Putin.

CalPERS, the $326-billion California state pension fund for some two million state cops, firefighters, and bureaucrats, has never been shy about its trumpeting its political correctness.  It’s positively famous for its pullouts of tobacco investments, Turkey investments, apartheid South Africa investments, and coal investments, and so famous that you probably would never have heard of the fund were it not for its pullouts.  It’s not that they are that awful in themselves – they often try to push back on calls to divest.  But they’ve always been seen by leftists as a tool to oppose President Trump.  So in general, name the lefty cause, and out they pull.

Well, with one little exception: Putin’s Russia.  On that one, they’ve shelled out nearly half a billion dollars to the Russian government (not companies, but the government) through its bond buys.  And hey, they’re one of Russia’s top foreign investors, top ten among foreigners.

Seth Hettena, in an op-ed in the Los Angeles Times, writes:

Since purchases of Russian government bonds are effectively loans to Vladimir Putin’s government, this means CalPERS has extended nearly half a billion dollars to a regime that sought to hack our election system in 2016 and is still attempting to undermine American democracy and the U.S.-led Western alliance.

Oh, and Hettena notes that they are expanding such investments, by 8% last year, which was right about when the Russia-Russia-Russia claims went full bore on the Democrat side of the aisle back in Washington.  more here

10 Comments on Why is California bankrolling Putin?

  1. Hand your money over to the communists and expect a return. We’ll see how that works out.

    These big pension funds are nothing but a means to turn capitalism on it’s head and convert it to socialism. “Diversification” is just another form of socialism. Like “health insurance”. When you “diversify” you make investments that by definition, don’t make financial sense from a return on capital prospective.

    To quote my favorite famous leftist: “diversification is for people who don’t know what they are doing.”

  2. They’ve been fellow travelers for many decades, dems are ticked that Putin didn’t come through for Hillary.

  3. Awful lot of America haters in our American Governments. Thank God for President Trump. Maybe something can be done, but I doubt I’ll see it in my lifetime.
    I watched a great video the other night: Donald Trump The Long Road to The White House (1980 to 2017). His many interviews. He never changed over the years. He just loves America. That’s why the lefties hate him and us.
    They hate the Police. They hate the Military. They just HATE. Phuckem! And y’all know who I mean.

  4. Shut off the federal spigot to CA! As a law-abiding, hard-working, tax-paying citizen, I should not have to fund their illegal voter fraud activities or this shit!!

  5. Roy

    the Cal taxpayers have been “bailing out” CALPERS for 10 years. the tense is PAST not future!

    Take out your wallet and PAY ATTENTION!


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