Thread by @yomeeks

This is your daily pension announcement. The Pension War Room™️celebrates irony day today as an official Alberta holiday. No richer gift of irony than Jason and Travis WRONGLY asserting that the GOA guarantees your pension then having to pay to cover AIMCO misdeeds. #ABLeg

So right now in a top secret arbitration hearing LAPP, SFPP, and PSPP are asking for compensation for the billions in loss at @aimcoinvests as a result of the VOLTS fiasco. To be precise, asking for a combined $1.33 billion dollars plus costs. Since AIMCO is owned by the GOA....

The GOA would be responsible for paying any award. Making the pension plans "whole" if you will. Remember, despite what Travis said, your pension is in no way guaranteed by the GOA but rather is guaranteed by the assets of the plan. Assets matter! #ABLeg

There is great precedent in Canada of taking investment managers to task for misconduct. What is unique here is the amount, in the billions. And, that it is three GOA entities holding another GOA entity to account. #AbLeg #grossmisconduct

Some of the secrecy is warranted. This hearing is rightly behind closed doors as AIMCO trade strategies are likely to be discussed in detail. The final decision, however, should be revealed to us peons. (I don't think it will be, but it should be.) #AbLeg

I shudder to think what the lawyers cost in this case. But given the potential of a billion dollar decision and the need to discourage AIMCO from engaging in this behavior, they are worth every cent. @ToewsforAlberta did absolutely nothing when this came to light. #AbLeg

It appears that the past strategy of stocking the @aimcoinvests Board with "highly qualified" oil and gas executives that were PCAA supporters didn't work out so well.

Highly qualified my ass. #AbLeg