Weiner Calls for Divestment of NYC Pension Funds from Companies with Business Ties to Iran

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weiner1.jpgNew York City–Representative Anthony D. Weiner (D – Brooklyn and Queens), a member of the Commerce Committee, joined by New York City Comptroller Bill Thompson, and Senator Charles Schumer (D-NY) announced that the New York City Pension Fund System would be divesting $10 million from two companies that have major investments in Iran’s energy sector.  Comptroller Thompson has also formally recommended that the City’s pension funds divest $110 million from an additional eight companies tied to Iran.

The office of Congressman Weiner recently released a report which found that the City’s pension system had millions invested in sixteen companies, all of which had made significant investments in Iran’s energy sector. Working with Comptroller Thompson’s office, the value of these holdings was estimated to be over $610 million and that all five of the pension funds had investments in companies tied to Iran.

Rep. Weiner commended Comptroller Thompson for planning the immediate divestment of $10.8 million from two companies with business ties to Iran and his plans for divestment from an additional eight companies. Rep. Weiner emphasized the importance of divestment from all sixteen companies, highlighting Iran’s continued push towards the construction of a nuclear weapon and the success of past divestment campaigns like the one directed at South Africa.

Rep Weiner said, “New York City joins 7 other cities along with 15 states in committing to no longer invest in companies that prop up Iran’s despotic regime.  Iran has advocated the destruction of Israel and continued a dangerous nuclear program that threatens the stability of the region.  Investing in Iran is not only immoral, it is dangerous.”

In 2007, Weiner called on New York State and New York City pension funds to divest all of their investments in Iran and released a list of international companies with such investments. Recently, Comptroller Dinapoli announced that the state pension system would divest $86 million from nine companies invested in Iran’s energy sector.

Rep. Weiner is a cosponsor of the Iran Sanctions Enabling Act, which explicitly authorizes states and local governments to divest and protects investment companies from civil, criminal and administrative action for divesting from Iran.

(YWN Desk – NYC)




5 COMMENTS

  1. Is his Islamic fiance’ a Sunni Muslim who despises Iran and that is why he is calling for it? Or, is he really worried about Iran?

  2. Reminds me of Stephen Wise, head of the American Jewish Congress during World War II, who called for a boycott of Hitler Germany.

    Historians note that Hitler considered this a declaration of war against Germany by the Jews, and he vowed that, from that point on, he would make an end to the Jewish People–the “Final Solution.”

    This is an irresponsible action by an irresponsible politician, who has not considered the the terrible consequences that may result for the tens-of-thousands of Jews who still live in Iran.

  3. #2 1)so we should’nt anger our enemies who want to kill us, because they’ll want to kill us. 2)so the reason that sub-human monster killed the jews was because of stephem weise, are you on drugs?

  4. Flatbush Bubby, does it make a difference why he is against Iran? It’s a good move. BTW, I heard that he isn’t Jewish, his father is but I don’t know how true that is.