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Strategies & Market Trends : Free Float Trading/ Portfolio Development/ Index Stategies
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To: dvdw© who wrote (2662)9/20/2008 9:32:44 AM
From: dvdw© of 3821
 
Reply as feedback; The Teacher Retirement System of Texas has temporarily discontinued a portion of its securities lending program as a result of the recent downturn in the financial markets.

The practice involves the lending of securities for a fee by one party to another

"The Teacher Retirement System will reassess the situation as market conditions change."
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Do the teachers who fund your program know /understand that the stock you loan goes to those who might be engaged in price suppression of the very assets they are depending on for thier retirement?

You loan stock to others, others short the portfolio or try and cover loans previously made as rented time value?

Your clients assets fall, you collect fees from these loans, and to what purpose are the fees offsetting the lowered values?

Are the fees collected enough to provide the bonus's management desires?

Or are the fees derived, somehow meaningful to the funds actual performance?

There are multiple moral dilemmas within this matrix of causes and effects.

My suspicion is that programs such as these, counter program client intent, but serve those entrusted with administration, in a wholly self serving way.

Conversion.....is.....a slight of hand, and mind area of law. Its the root of systemic largesse.
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