Wednesday, May 20, 2009
How Barack Obama Giveth And Taketh Away From Indiana
State Treasurer Richard Mourdock has harsh words for President Barack Obama for changing the rules of bankruptcy in the case of Chrysler, causing state funds invested in the company by the state's Indiana State Police Pension Fund and a road construction fund to be lost. State losses will total over $1 million. The Indiana Teachers' Retirement Fund racks up a loss of $4.6 million. Mourdock claims President Obama put the interests of others ahead of secured lenders like the state. As a consequence of Obama's action, Mourdock plans to discontinue any state investments in companies receiving federal bailout assistance. That would have been the wiser course of action even before this latest announcement.