As a 33 year resident of Ventura County, I am absolutely embarrassed that the County Pension Board took the advice of “Bain” and invested in slave companies in China. Remember, Bain was once headed by Mitt Romney and financed the business ventures of Meg Whitman.
China puts Muslims in slave labor camps, concentration camps. No free speech, government controls the Internet, it kills its citizens without trials. This is a nation that took freedom from the people of Hong Kong—and the people of Ventura County are financing this corrupt, vicious, tyrannical State.
Thanks to the Ventura County elected Treasurer, Steven Hintz, for exposing them vile abuse of humans. This is from his Facebook account of the situation.
“Bain’s argument was that there is little risk that the PRC would nationalize the companies and disavow the loans, and that “things are looking better in PRC.” REALLY? For the people and businesses in Hong Kong? For the Uyghurs who are in slave labor camps? And anyway, who believes that any business in the PRC isn’t controlled by the CCP, which completely controls the PRC government?
Seriously, Bain trusts the Communist Chinese to be honest and act as capitalists? Worse, the Pension Board for Ventura County needs to read about current day China. This Board needs to be replaced. A former leader of the Soviet Union once famously said, “We will kill you with the rope you sell us.” Guess the Ventura County Pension Board is willing to kill us all. Shame on them.
Ventura County Pension System: We will Loan $10 Million to the Slave State of CHINA
Judge Hintz the elected Treasurer/Tax collector and a director on VCERA (Ventura County Pension board) posted this on Facebook;
Treasurer Steven Hintz, Facebook, 7/25/21
Yesterday the board of directors of the Ventura County Employees Retirement Association (VCERA) approved a Bain Capital investment proposal to lend at least $10Million to so-called “private companies” in the People’s Republic of China. Only Supervisor Kelly Long and I voted against it.
Bain’s argument was that there is little risk that the PRC would nationalize the companies and disavow the loans, and that “things are looking better in PRC.” REALLY? For the people and businesses in Hong Kong? For the Uyghurs who are in slave labor camps? And anyway, who believes that any business in the PRC isn’t controlled by the CCP, which completely controls the PRC government?
The VCERA board claims it keeps politics out of its investing strategy. That claim is contradicted by its continuing interest in ESG investing. But helping out the PRC/CCP isn’t just a simple political decision . . . it has to do with moral principles. So it should not be a surprise that it was Bain Capital that pitched this idea with perfectly straight faces.
I campaigned hard for this job, partly on the slogan “It’s Your Money.” It isn’t just County employees’ money . . . it is taxpayer money. And it is going to support the PRC.
