Posted by Barry Jantz at 12:00 am on Feb 01, 2007 Comments Off on State Retirement Investments Tied to Iran…$24 BILLION!
Assemblyman Joel Anderson introduced legislation earlier this
week to divest the Public Employees Retirement System (CalPERS) and
State Teachers Retirement System (CalSTRS) of investments in
Iranian-connected businesses, appropriately questioning
whypublic funds should support terrorist states (read the
original FR post and
Joel’s SDUT op-ed).
At the time, not even he likely comprehended the amount of
monies invested, as research was still being conducted to determine
the total. Granted, California may have the best-funded
retirement system in the world, but the answer is still
unbelievable.
According to Conflict Securities Advisory Group (CSAG), a Washington,
DC-based research and consulting firm that specializes in corporate
ties to Iran and other security concerns, CalPERS is invested in
152 companies with ties to Iran with investments that total some
$14 billion. CSAG further identifies 69 of these
companies,… Read More