"Big Oil" Bernie has investments in fracking companies
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  "Big Oil" Bernie has investments in fracking companies
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Author Topic: "Big Oil" Bernie has investments in fracking companies  (Read 2366 times)
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CrabCake
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« on: April 04, 2016, 08:06:16 AM »
« edited: April 04, 2016, 08:10:30 AM by CrabCake »

http://www.dailykos.com/story/2016/4/3/1509959/-If-Bernie-Sanders-Doesn-t-Support-Fracking-He-Should-Check-His-Investments
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#TheShadowyAbyss
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« Reply #1 on: April 04, 2016, 08:07:58 AM »

I think you mean "Fracking" not "Cracking", but I think it's funny he has investments in "Big Oil" while campaigning against them.
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Wiz in Wis
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« Reply #2 on: April 04, 2016, 08:37:43 AM »

It's almost as if he hasn't been properly vetted... interesting.
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Mr. Reactionary
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« Reply #3 on: April 04, 2016, 10:46:05 AM »

So he's voting against his self-interest. What principles.
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Ebsy
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« Reply #4 on: April 04, 2016, 10:55:14 AM »

Probably why he doesn't want to share his tax returns.
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cowboys5xsbs
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« Reply #5 on: April 04, 2016, 11:08:23 AM »

You're saying a politician is hypocritical.....  Now way.
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yankeesfan
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« Reply #6 on: April 04, 2016, 11:08:58 AM »

Give me a break.  I'm as much of a Bernie-hater as anyone, but this is completely bogus.  He almost certainly doesn't manage these investments himself and likely has no idea that he has investments of probably less than $500 in a fracking company.  
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Ebsy
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« Reply #7 on: April 04, 2016, 11:13:42 AM »

Give me a break.  I'm as much of a Bernie-hater as anyone, but this is completely bogus.  He almost certainly doesn't manage these investments himself and likely has no idea that he has investments of probably less than $500 in a fracking company.  
The connection is way less tangential than what he's using to somehow show that Clinton is a sell out to big oil companies, to be fair.
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Santander
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« Reply #8 on: April 04, 2016, 11:18:41 AM »

He has a tiny bit of money in a mutual fund that happens to include a fracking company. Big deal. Remember Obama's "have you checked your pensions?" moment in 2012? Nobody cared.
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Averroës Nix
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« Reply #9 on: April 04, 2016, 11:38:37 AM »

I mean, by the same standard, so do I. So do most working-age people reading this, probably. Mutual funds are how middle class people save for retirement in an era when employer-based pensions are in decline and even the long-term future of Social Security is in doubt. If you went through every investment that many ordinary families have, you could practically make a full-time occupation out of picking through the ethically dubious investments that are bundled together. It's just not possible for someone with a modest amount of investments that need to be highly diversified to manage them that closely.
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Lief 🗽
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« Reply #10 on: April 04, 2016, 11:40:25 AM »

Wow, no wonder he opposes alternative energy like nuclear power. Sad to see, but unsurprising at this point.
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Absentee Voting Ghost of Ruin
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« Reply #11 on: April 04, 2016, 11:41:08 AM »


So... investing in a company that invests in a company that invests in fracking is somehow equivalent to taking money from oil companies? Hillary needs to invest in a better quality of shill if she wants to be president.
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Landslide Lyndon
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« Reply #12 on: April 04, 2016, 11:44:32 AM »

Maybe if he wasn't promoting himself as a holier than thou, 100% pure liberal this would have been a non-story.
But he is and so this is fair game.
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Torie
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« Reply #13 on: April 04, 2016, 11:54:54 AM »
« Edited: April 04, 2016, 11:56:54 AM by Torie »

His investment is via mutual funds that, as noted, he does not control. His net investment is probably less than 0.5% of his portfolio if that much. I own index funds, that invest in the entire stock market, foreign and domestic, in companies via various index funds that are large and small and micro. So I "own" fracking companies too, along with God knows what, in tiny dribs and drabs.  Sue me!

This is really an unfair hit on Bernie. But in this campaign season, fairness goes down the drain first.
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Likely Voter
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Junior Chimp
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« Reply #14 on: April 04, 2016, 12:21:56 PM »

There are quite a few socially responsible investment (or SRI) mutual funds with good performance.  If one wants to be pure on an issue, there is no reason not to use SRI funds.
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Torie
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« Reply #15 on: April 04, 2016, 12:51:16 PM »

There are quite a few socially responsible investment (or SRI) mutual funds with good performance.  If one wants to be pure on an issue, there is no reason not to use SRI funds.

They are not prudent investments if one's bulk of one's equity portfolio is invested therein. They are inadequately diversified. Many have high fees. But I suppose, if one wants to make a point, one could do that. Anyway, the rap against Bernie is totally unfair on this one.
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Clark Kent
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« Reply #16 on: April 04, 2016, 12:52:49 PM »

We all know he's a liar and a fraud, so why is it news that he's a hypocrite, too?
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Virginiá
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« Reply #17 on: April 04, 2016, 12:54:46 PM »

There are quite a few socially responsible investment (or SRI) mutual funds with good performance.  If one wants to be pure on an issue, there is no reason not to use SRI funds.

They are not prudent investments if one's bulk of one's equity portfolio is invested therein. They are inadequately diversified. Many have high fees. But I suppose, if one wants to make a point, one could do that. Anyway, the rap against Bernie is totally unfair on this one.

You're right, but I will relish it anyway. Crazed Bernie supporters make a big deal out of every little thing regarding Clinton, so they shouldn't be surprised if people do the same towards him.
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Likely Voter
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Junior Chimp
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« Reply #18 on: April 04, 2016, 12:55:41 PM »

There are plenty of good SRIs including some ETFs with low fees.  If you are serious about this stuff you can have a socially responsible portfolio.  Bernie seems to me the exact target market for them. Surprised he isn't using them exclusively.   
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CrabCake
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« Reply #19 on: April 04, 2016, 05:03:31 PM »

If making up salacious gossip about a candidate I kind of support in a country I don't live in is bad, then I don't wanna be right.
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TheDeadFlagBlues
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« Reply #20 on: April 04, 2016, 06:55:30 PM »

As someone who was part of a divestment effort, I can't take this seriously. Most investments, whether they're 401ks or endowments or various indexed funds, are difficult to track at the level of the firm and, as a result, individual investors, and institutional investors as well, tend to ignore the specifics of investment in favor of looking at broad categories and yields. Obviously, I think that institutions should make ever possible effort to limit the manner in which their endowment finances ethically dubious practices but individuals face steeper constraints, particularly if they're investing their money for the sole objective of retirement. The opportunity cost of delving into portfolios far exceeds the social benefit of moving a few dollars here and there. This is not true for institutions but it's very true for pensioners...
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jfern
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« Reply #21 on: April 04, 2016, 07:27:28 PM »
« Edited: April 04, 2016, 07:29:34 PM by ○∙◄☻¥tπ[╪AV┼cVê└ »

So he has 1.54% of 5.82% of $1000-$15000 in a fracking company? That's at most $13.44. I mean your tank of gas could literally have more invested in fracking than that. Clearly that's the same as aggressively pressuring countries around the world to frack as Secretary of State.
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The Free North
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« Reply #22 on: April 04, 2016, 07:38:29 PM »

Oh please.....he has some passive investment vehicles that dabble in fracking. It's not like Bernie is out there consciously throwing his money at these companies, pretty much every person who has a retirement account and is in a mutual fund will be in this.

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KingSweden
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« Reply #23 on: April 04, 2016, 08:09:42 PM »

Yeah, this is a really weak critique. Not unfair, by any means - candidates have been attacked for dumber stuff than this - but ineffective and silly.
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