The Occupy Wall Street movement is spreading to financial districts across North America and the world. Seems an appropriate time to think about who actually owns and profits from that real estate.
Union pension funds are the owners of many office towers in Canada’s financial districts
Gatherings and protests can sometimes become destructive, often against the original organizers vision. We’ve all seen the TV footage or been first hand eye witnesses when a peaceful gathering turns into something else.
Various unions are now endorsing the “Occupy” movement.
They just might want to be extra vigilant to make sure no one trashes their pension fund’s office buildings or those belonging to the pensions of fellow unions from across the country or around the world.
The banks are merely tenants–renters. A lot of hard working ordinary people are the actual owners of the real estate via their union pension plans.