Emperor’s Rants and Observations

Alaska’s Assets in Sudan Targeted.

Lauren Tibbitts-Travis, a 16-year-old sophomore at the local high school, plans to use her Alaska Permanent Fund dividend to pay for college.

But she sees a problem — a problem of conscience.

“Who wants to go to college on blood money?” she said.

Tibbitts-Travis is among supporters of a bill two state lawmakers from Anchorage are sponsoring to force managers of the $38 billion Permanent Fund to dump the stocks of companies doing business in Sudan, the African country whose government has been blamed for genocidal killings in the Darfur region.

First off I’d like to offer a tip of the cap to the 16 year old young lady Lauren Tibbitts-Travis. Regardless whether we agree with her opinion or not, it’s gratifying to see young people like her engaged in our society. Too often the news we read about teens is of the bad variety. Nice reminder that there are still a lot of good kids out there.

The Sudan/Darfur situation is absolutely appalling which I think we all agree on. I don’t believe any of us would want to support the Sudan Government in the midst of this genocide. The US government already forbids US Companies from doing business in Sudan, so all we are talking about is a handful of foreign companies. Something I’m not too excited about anyway. 22 million out of 38 billion is a minuscule percentage (%0.0006 unless I fat fingered the calculator), so I don’t really buy the cost argument against dumping those stocks.

The real question is whether we want our Permanent Fund Managers to invest in a socially conscious manner. I know that Rep Gara has set the limit at “one genocide” but the truth of the matter is that if we start down that path, there is no way to put the genie back in the bottle. What if we find that we are investing in a company that is conducting stem cell research? Or a company that is using child labor? How about companies that do business in Iran or North Korea? Wouldn’t all those be considered good targets by some not to invest in? Or even my feeling about investing in any foreign company?

Other states are already investing in socially concious ways. For instance, a core group of state treasurers and controllers are moving their investments into environmentally friendly and clean tech funds, while thinking big about climate change.

I think it’s a discussion worth having, but I think we need to discuss the topic of “Socially Conscious Investing ” of the Permanent Fund, not just this one set of businesses doing business in Sudan.

Young dismisses tradeoffs for cash claim

“Every story that comes out is the same, with different players and different projects,” he said. “When you are the chairman of the largest committee in the House, and a senior member, and in charge of writing a $290-odd billion bill, it’s a guarantee that you are going to be raising more money than other less senior members. It’s also a guarantee that there will be a plethora of projects for people to look at and pick apart. This is a recycled story.”

Unfortunately Congressman Young is absolutely correct.  This is the never ending story. Until we stop voting for candidates that accept contributions from any source other than their constituents, the story will continue.

Young isn’t the issue here.  The integrity of our elections and representatives across the board is the issue.  It’s not just the Republicans.  Democrats stuff their campaign pockets with cash from special interests just as much as the Republicans.  If you looked closely at the contributions and votes of Democratic members I’m certain you would see the same type of pattern.  It’s the way the system works.

The system is corrupt.  It takes big money to run a campaign to win.  So candidates are forced to whore themselves out to special interest groups if they have any chance of raising money to compete.  Don’t fool yourself, or buy into the nonsense that contributions don’t buy influence.  Of course they do, and any politician that says otherwise is flat lying.  Perhaps lying to themselves as well.

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