Emanuel Sends Letter to Mutual Fund Companies - Divest in Gun Manufacturers

[skinnyb82]

This guy has a huge pair of brass balls, or he thinks he does. Does he honestly think that fund managers are gonna divest in something just because the Mayor of Chicago asked them to? No. They have a fiduciary duty to act in the best interest of their investors, not in the best interest of Rahm Emanuel. If ANY mutual fund manager goes and divests because of this, I PROMISE that there will be a class action lawsuit. Most people don't know what stocks their funds' managers invest in, but some (like myself) do know and I would file a massive lawsuit against one of these fund companies if the fund manager actually divested in something because Rahm Emanuel told him to or if upper-management ordered the fund manager to do so.

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[longslide10]

Yeah divest in one of the most profitable industries left in this country. I don't think banks and investment firms give a rat's arse of how their profits are made just as long as they are.

 

[skinnyb82]

No but if this screws with how they make their money, they'll gladly file a lawsuit against him, the City of Chicago, (probably) McCarthy, and whoever the hell else they find out had anything to do with it for tortious interference, civil conspiracy (see other torts, he didn't do this alone), restraint of trade, negligence and whatever other tortious acts that a top-tier tort lawyer (aka scumbag) can think up. Way to stick your junk into a hornet's nest, Rahm. Telling banks to tell gun manufacturers to screw off, that's bad. Telling mutual funds to breach fiduciary duty? That's just plain stupid. And the NAV of every single fund in the companies' fund families could take a hit because of this, which would be BAD for the Mayor of Murder USA since these firms' legal budgets are massive and I HIGHLY doubt the City of Chicago would foot Rahm's legal bills. Screwing with even one of them is a dumb idea because they're gonna be watching to see if what he's done has had any effect on their financials and if it has, all hell will break loose. I find it hard to believe that only five fund companies have funds that invest in gun manufacturers. The odds of that are the same odds that a Republican will become Mayor of Chicago....as in not a chance in hell.