Hedge funds. Its not okay. I say its staff management who says its okay to invest in hedge fund. [ applause ] good afternoon Board Members. Im joshua, i work for the children of San Francisco. I have a very large risk because im relatively young, not as young as i once was. Thats why i have an ira. My pension is very important to me. Thats why i took a pay cut to work in Public Service. I took that because i wanted to work in Public Service but one of the ways to justify that myself to my family was im trading income now for reliable income in the future. If you want people to work for the city and county in the future because many of my brothers and sisters are going to retire and you are going to need new workers, you have to give them some kind of Value Proposition and that is reliability. The other thing is that hedge funds are talks of the social fabric in america. I deem to be more diplomatic than that but i cant do so. They extract money from people and give it to people who man
Attack on Public Workers that cant afford to live here. Service workers have to spend 23 hours driving to San Francisco. Why is that . Do we only have space for millionaires in San Francisco, only have space for developers in San Francisco. This board, driscoll who is a union member, says to hedge funds. Its not okay. I say its staff management who says its okay to invest in hedge fund. [ applause ] good afternoon Board Members. Im joshua, i work for the children of San Francisco. I have a very large risk because im relatively young, not as young as i once was. Thats why i have an ira. My pension is very important to me. Thats why i took a pay cut to work in Public Service. I took that because i wanted to work in Public Service but one of the ways to justify that myself to my family was im trading income now for reliable income in the future. If you want people to work for the city and county in the future because many of my brothers and sisters are going to retire and you are going to
Hedge funds. Its not okay. I say its staff management who says its okay to invest in hedge fund. [ applause ] good afternoon Board Members. Im joshua, i work for the children of San Francisco. I have a very large risk because im relatively young, not as young as i once was. Thats why i have an ira. My pension is very important to me. Thats why i took a pay cut to work in Public Service. I took that because i wanted to work in Public Service but one of the ways to justify that myself to my family was im trading income now for reliable income in the future. If you want people to work for the city and county in the future because many of my brothers and sisters are going to retire and you are going to need new workers, you have to give them some kind of Value Proposition and that is reliability. The other thing is that hedge funds are talks of the social fabric in america. I deem to be more diplomatic than that but i cant do so. They extract money from people and give it to people who man
Have you learned from 2008 . Apparently not. Some unions say we should have money in hedge funds. I say bull. I say bull. We dont need any money in hedge funds and in fact those unions telling us to invest in hedge funds are not doing us a service. In fact they tell us to invest more and we need to put more money of our pension. I say no. Will let the billionaires in San Francisco. They have not. They have tax deductions. They are not paying their share. They are saying that Public Employees have to pay more in health care benefits, have to pay more in pension benefits. Thats whats going to on and this board is pushing that. Socalled reform pushed by billionaires and i say we, the Public Employees are fed up. We are fed up with taking pay cuts to pay for the billionaires and pay for the hedge fund speculators. As has been said by the people here, the Hedge Fund People are interested in profits, they are interested in driving speculative profits, they are not concerned about the City Em
Would want to take advantage of. Supervisors farrell . Supervisor mark farrell thank you. I want to thank you for your hard work. In terms of this legislation, very conflicting points of view of view from my perspective and i hear from my neighbors and other neighbors in the city that there are people already living in these units. I will say out right that i disagree with parts of this legislation particularly with the cost past through and the mergers and the ability or lack thereof. In court what has been in my head is what we are doing principally to talk about by supervisor yee and tang and i appreciate supervisor wiener for taking out some of that language. I do know we see families leaving and we have families that cannot afford to stay here and there are families looking for certain kinds of stock in this city. If this does too well that we start to lose our pure single families in our neighborhood. The beauty in our city is about our neighborhoods and diversity of our differen