Abstract

The New Colossus

Comments on progressive activism within the Democratic Party in regard to pension funds and the U.S. financial system. Assertion that pension-fund wealth is being used to challenge the antisocial behavior of corporate America; The progressive pension funds (backed by blue-state supporters in California, New York, Connecticut, Iowa, and North Carolina) leading a reform against the laissez-faire system; Reaction of business and financial interests with complaints against state pension officials; Discussion of an alliance between CalPERS pension fund and organized labor; History of the shareholder-petition movement; How New York Attorney General Eliot Spitzer has inspired pension leaders; Political outlook for Spitzer and California Treasurer Phil Angelides in 2006; The two principles guiding reform strategy; How activists are raising awareness that societal risks are also financial risks.