Patriotism over Profits on Chinese Access to Government Pension Funds

2019-10-22

This is Frank Gaffney with the Secure Freedom Minute. Sometime soon, overseers of the federal retirement Thrift Savings Plan are going to make a fateful decision. Will they greenlight or reject their previous plan to include problematic Chinese companies in the investment portfolios of past and present U.S. government civilian and military personnel. As with the recent, widely publicized repudiation of free speech by the NBA, this Wall Street bid to pursue near-term profits without regard for l...

This is Frank Gaffney with the Secure Freedom Minute.

Sometime soon, overseers of the federal retirement Thrift Savings Plan are going to make a fateful decision. Will they greenlight or reject their previous plan to include problematic Chinese companies in the investment portfolios of past and present U.S. government civilian and military personnel.

As with the recent, widely publicized repudiation of free speech by the NBA, this Wall Street bid to pursue near-term profits without regard for long-term national interests is reprehensible.

To make matters even worse, such transactions appear at odds with the TSP managers’ duty to be responsible stewards for their retirees’ money. Unbelievably, as American Securities Association president Chris Iacovella recently pointed out, China’s corporations aren’t required to comply with our transparency and accountability standards. One actually had $4.4 billion simply, fraudulently disappear.

Find this outrageous? Then, join us in saying “No” at PresentDangerChina.org.

This is Frank Gaffney.

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