Hi all
When we talk about financial firms lending stock to shorters (to trash share prices), I assume (I'm learning the opposite real quick) that you know that the premium paid to super funds is pocketed by the super fund manager and not the members of the fund.
For example, Cbus, an industry super fund holds in its name all the assets for it's beneficaries, aka, members. The members own nothing. So the premium goes to the manager when the stock is lent. Ka-ching
Additionally, industry super funds purchase insurance, on your behalf, from related companies, owned by the unions. Ka-ching.
And much of these premiums are then passed on to the ALP and greens, who then attack our companies with more regulation, undermining their world competitiveness and opposing disclose laws that would require super funds telling members what they are doing. (Not looking after workers)
So, I need to get me one of those money making machines (unions, not super funds)
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