Dear God Paul Mason’s an idiot

When campaigners looked at who was buying up the debt, they included an anonymous company linked to one of the biggest hedge funds in America: Fortress Investments, with $23bn worth of assets invested in “the largest pension funds, university endowments and foundations”.

That’s invested by you idiot. The money belongs to the pension funds and endowments and it is invested by them in Fortress.

Many pension funds, either directly or indirectly, are investing in the so-called “infrastructure funds” who buy up PFI debt. The investment analyst Preqin found 588 institutional investors worldwide with “a preference for funds targeting PFI”, 40% of which were based in Europe.

Tracing the more complex ways institutional finance is funding the cycle of impoverishment is not easy.

Pension funds invest in building assets like schools’n’ospitals. This is predation?

What you would want to know, in places such as Stoke-on-Trent or Newport, is not just who took the decisions to close high-value workplaces but,

A bankrupt steel mill is a high value workplace?

The man’s just mad.

8 thoughts on “Dear God Paul Mason’s an idiot”

  1. When pension funds invest voluntarily in public assets, it’s predation. When Richie and pals steal it and invest in public assets, it’s the Curajus State.

  2. he’s fallen subject to the classic middle-class left-wing fallacy – “work is only valid and important if it’s:
    a) manual
    b) dangerous
    c) unionised and
    d) carried out in the kind of places I’d never work in a million years”

    But *really* – working-class(ish) background, degree in music and politics, postgrad, worked as a music teacher and lecturer. Then journalism, BBC and finally full-on tinfoil-hat menkleism. Number of actual manual jobs held: zero.

  3. He should offer to buy the Tata steel assets in S Wales for a quid, and take on the liabilities of course too. As they are so profitable he’d be quids in, wouldn’t he???? I mean big business is notorious for giving away highly profitable assets for nothing, they do it all the time. Fools they are, fools!

  4. Mason has gone into the Corbyn and McDonnell bin for former useful friends or allies of Murphy in his naked pursuit of the peerage, now deemed to be counter-productive to that goal.

  5. ‘He should offer to buy the Tata steel assets in S Wales for a quid, and take on the liabilities of course too. As they are so profitable he’d be quids in, wouldn’t he???? I mean big business is notorious for giving away highly profitable assets for nothing, they do it all the time. Fools they are, fools!’

    In all seriousness, I have suggested to leftist friends that the unions should do this. They have (or could soon find) the manpower and the expertise, and the money would presumably be forthcoming. Make every steelworker a John Lewis type shareholder if you want. There are apparently massive profits out there – let them enjoy the fruits of their own labour.

  6. @ Flatcap Army
    I think that you should say “carried out in the kind of places Paul Mason would never work in a million years”
    I haven’t done a manual job for pay since I was 17 (done some unpaid) but when I was 18, 19, 20 .. the guys didn’t hold that against me – they had their apprenticeships and accepted that my apprenticeship was in computers not engineering. If I hadn’t been good at maths I’d have joined them and they knew that so they had no problem with it..

  7. @john77 – yes, sorry, that’s exactly what i was trying to say; not one of these middle/upper class Trots has ever done a crappy manual job in their lives (even Polly did one for a bit but then like the rich lass in ‘Common People’ she was only playing at it for research and always had a Establishment background to fall back on if it became too much)

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