Tuesday, September 22, 2009

Genocide, Schmenocide.

I have a very small amount of money invested in mutual funds, including the Washington Mutual Investors Fund. Today, I got to vote online, with a special code, as a shareholder. (I think I own 1.35 shares.) The fund is very helpful and lets me know which way the Board of Directors, in their worldly experience and incredible wisdom, would encourage me to vote. For example, the Board is "FOR" the following:
  • TO UPDATE THE FUNDS' FUNDAMENTAL INVESTMENT POLICIES REGARDING: BORROWING.
  • TO UPDATE THE FUNDS' FUNDAMENTAL INVESTMENT POLICIES REGARDING: INVESTMENTS IN REAL ESTATE OR COMMODITIES.
  • TO UPDATE THE FUNDS' FUNDAMENTAL INVESTMENT POLICIES REGARDING: LENDING.
Let me say: I am for those things too, though I'm not sure we want the same things, the Board and I. Why?

Because the Board is, in fact, "FOR" all of the proposed changes. Except one. The Board recommends I vote "AGAINST" the following proposal:
  • To consider a proposal submitted by shareholders of certain funds that requests the Board of these Funds to "institute procedures to prevent holding investments in companies that, in the judgment of the Board, substantially contribute to genocide or crimes against humanity, the most egregious violations of human rights."
Thanks, Board! I trust you! Who would want their money NOT TO contribute to the most egregious violations of human rights?! Self interest! Self interest! For The Win!

It's only Tuesday morning. And I already want to give up for the week.

2 comments:

  1. But if YOUR mutual fund doesn't invest in those companies, then someone else's will and they'll get all those delicious blood-soaked profits. Mmmmm. Gotta love what passes for a corporate advantage these days!

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