While Iranian President Mahmoud Ahmadinejad was making waves at Columbia University, Gov. Arnold Schwarzenegger was a few miles away at the United Nations doing his best to make the Iranian regime an international pariah.
Schwarzenegger announced that he would sign legislation requiring California’s two huge pension funds to divest from companies that have energy or defense-related business in Iran.
He said the legislation makes California a leader in ethical investing and allows the state to take a “powerful stand against terrorism.”
There are roughly 400 companies world wide that do business in or with the terror supporting states of Iran, Sudan, Syria, and North Korea. What this legislation does is require public pension funds to divest from those 400 companies. A “divest terror” movement began last year in Missouri and spread to Illinois and Louisiana. Now more than more two dozen states are considering – or have passed – measures to prevent state pension dollars from being invested in companies that do business in rogue nations.
Check out more about the Divest Terror Initiative
Proprieter Nation is also blogging on Divesting of Terror