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Unformatted text preview: is the first truly ‘sotic’ country.” (What about Financial Industry in 2008­) 1976 The Unseen Revolution: How Pension Fund Som Came to America Who is interested in control? Why? Management, institutions, Governments, etc? Copyright 2013 Copyright 2013 Issues & Thoughts The index fund as a permanent investor ­ But if you try to use it to exercise control ­ Is it still a “passive investor?” The Alabama State Pension Fund as a NYC real estate developer ‘Olympia & York’ ­ Alabama Pensioners Social purpose investments by pension funds ­ create jobs, housing, mortgages ­ support industry ­ investing in the employer Correcting Abuse ­ ERISA ­ Fiduciary responsibility to whom? When institutional investors & fiduciaries vote ­ how do they make decisions? What input do they have? Monks: Who wants him...
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