Florida outlaws investments in Iran and Sudan
June 10th, 2007 at 7:43 am . by nuke“Doing business with Iran is like doing business with Nazi Germany or Imperial Japan in 1942.”
Florida became the first state in the United States on Friday to outlaw pension fund investments in any companies doing business with Iran’s energy sector and with Sudan.
Several other states have divested pension funds with companies doing business in Sudan and some states have general policies against such investments. But none had put the action into law.
“It’s not just what’s right for Florida. This is what’s right for America, it’s right for the world,” Governor Charlie Crist said after signing the bill. “It says that Iran, the world’s leading sponsor of terror, we will not stand idly by anymore. And to Sudan and the genocide that is occurring there, we will not stand idly by and let that happen anymore, not Florida.”
About $1 billion of Florida state money is currently invested with companies that do business with Sudan and Iran’s energy sector, said state Senator Ted Deutch, the bill’s sponsor.
While the state has about $134 billion in its pension account, the fourth largest in the United States, the measure also covers an additional $16 billion in state money that Florida invests in various markets.
Under the new law, companies will first be given an opportunity to stop doing business with the two countries before state funds are pulled. Deutch said the state should be fully divested within a year.
“Tens of billions of dollars nationwide are invested in companies that are making it easier for the Iranian government to develop nuclear weapons and to make it easier for Iran to produce weapons that are being used against our troops,” Deutch said, referring to claims that roadside bombs used in Iraq are being made with Iranian know-how.
Florida’s move has also spurred other states to explore similar legislative action, said Christopher Holton, vice president of the Center for Security Policy in Washington.
“The Florida legislation is absolutely precedent-setting,” Holton said. “It’s a basic moral issue. Do we really want any of our investment dollars going to our enemies?
UPDATE
Kamangir reports on Sandanista thug Daniel Ortega’s solidarity visit to Iran, reportedly using Khadafy’s jet, and provides the interesting photo shown above of the leftist-islamist alliance.
Comment posted by no2liberals
at 6/10/2007 2:13:22 PM
In other news.
6.550 terrorists killed in Iraq since 1 Jan 2006.
Such a waste. Just think if they were actually trying to make life better in Iraq, instead.
The Good Lord only knows how many we don’t know about, who have killed and dragged away, how many have been injured, or injured and died.
Comment posted by no2liberals
at 6/10/2007 1:55:16 PM
The only power the Mad Mullahs have right now is the cash that their oil and gas provides, and those investing in their energy production.
This is good news from Florida. Along with limited sanctions by the UN, and pressure the administration continues to put on U.S. and Euro companies and banks, not to do business with the corrupt IRI.
California is looking at sanctions, as well.
Other news concerning Iran.
