Suing for bad investments

[Frixxxx]

How many investments can we sue for losses? How about they sue the guy that bought 19 million shares of BP stock. Where's the mitigation 19,000,000 * 60 = 1,140,000,000 which equates to 15% of the fund at it's height? How about suing for mismanagement???
Read:

NY pension fund to sue BP for investment loss

NEW YORK (Reuters) - New York state's pension fund plans to sue BP Plc to recover losses from the drop in the company's stock price following the worst oil spill in U.S. history, Comptroller Thomas DiNapoli said on Wednesday.
New York's Common Retirement Fund has a long history of serving as the lead plaintiff in shareholder lawsuits. DiNapoli said the fund owned more than 19 million shares when the Deepwater Horizon rig exploded in the Gulf of Mexico in April.
DiNapoli, the sole trustee of the $132.6 billion state pension fund, has hired law firm Cohen Milstein Sellers & Toll to represent the fund.

Read the rest of the crap here (http://finance.yahoo.com/news/NY-state-pension-to-sue-BP-rb-1320850283.html?x=0&sec=topStories&pos=4&asset=&ccode=)

[nnuut]

Well they say you can sue for anything, but I think this is way over the line of "What The HELL".

[Bullitt]

That just makes it clear how desperate the Pension Funds really are. Every one of them is in the gutter.

[Frixxxx]

Based on this mentality, we could sue the TSP board for taking away our unlimited IFTs. Since they are limiting our choices and movements, we can't protect ourselves and they won't protect us!:suspicious:

[nnuut]

Based on this mentality, we could sue the TSP board for taking away our unlimited IFTs. Since they are limiting our choices and movements, we can't protect ourselves and they won't protect us!:suspicious:
BUT, I believe that one may fly!! 9608

[CountryBoy]

I'm very sorry for the folks that have money in these pensions, but going the lawsuit lottery route just burns my tail. As Bullitt said, the pension finds are desparate. Before this is all over we all may be desparate, even US savings Bonds may be worthless, but this blaming of life on everyone else has got to end.

Sometimes life sucks and isn't fair, but we've become a country of whiners. Alot of us oldsters have experienced these tough times, unemployment, houses underwater, spending all your savings to stay afloat, but we were raised on the belief that working hard had a direct relationship to making money to get back on our feet. And fortunately that characteristic is still being instilled, but at a smaller percentage of children.

But over the years, the government and lack of family values, have erased this relationship, between hard work and money and have substituted the symbiotic relationship between government entitlements and no work, so when times get tough we have a bunch of whiny, soft Americans that can't take care of themselves and will just lay around until Uncle sugar shows up with a check. More so now, with this regime.

This attitude will wreck this country and turn us into a 3rd world country. We'd better grow and wake up or before we know it, our children and grandchildren will be the ones suffering for our softness and lack of responsibility. What happened to taking personal responsibility and making the best of a bad situation?

Face it folks, we're in for some tough times and we'd better prepare ourselves for it, lawsuits ain't going to cut it. Unfortunately, we'll have to be the ones to bail out those that lack the personal responsibility gene. :worried: