Broke pension funds divesting themselves of hugely profitable gun maker stocks

Rick Moran
George Will has an excellent column on liberal posturing when it comes to guns. The nearly broke pension funds in Chicago ($25 billion in unfunded liabilities with a $1.5 billion ballon payment due in two years), will divest themselves of gun maker stock while Mayor Rhambo has been jawboning banks not to lend to legitimate gun manufacturers. Chicago's current and retired public employees might wish the city had invested more in both companies. Barack Obama, for whom Emanuel was chief of staff, has become a potent gun salesman because of suspicions that he wants to make gun ownership more difficult. Since he was inaugurated four years ago, there have been 65 million requests for background checks of gun purchasers. Four years ago, the price of Smith & Wesson stock was $2.45. Last week it was $8.76, up 258 percent. Four years ago, the price of Sturm Ruger stock was $6.46. Last week it was $51.09, up 691 percent. The Wall Street Journal reports that even before "a...(Read Full Post)

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