June 19, 2007

NY Pension Fund Linked to Rogue Nations

From NY Pension Fund Linked to Rogue Nations:

The New York State pension fund has $12 billion invested in companies that do business with nations identified by the State Department as sponsors of terrorism. A report released Sunday by state senator Jeff Klein found that 16% of the $140 billion fund is invested in companies that do business with Syria, Iran, Sudan, and North Korea. Klein is sponsoring legislation dubbed the Terror Free Investment Act, calling on the state comptroller, Thomas DiNapoli, to divest the pension fund from companies that do business with state sponsors of terrorism. DiNapoli announced last week that he would use the state pension fund to pressure the Sudanese government to end the genocide in Darfur, taking steps that will eventually include divestment if companies refuse to pull out of Sudan.