Monday, January 11, 2010

Proposal to Divest from Sudan and Iran

A state senator from Philadelphia wants to restrict Pennsylvania investments in terrorist countries. Democratic Senator Mike Stack has introduced legislation that would require Pennsylvania's two largest pension funds to divest from investments in Sudan and Iran. Stack calls this a reasonable way for the Commonwealth to object...
"We can't invest in these countries. It's not morally acceptable, and I don't think it's economically feasible either. So my bill says it's unacceptable to trade with terrorists and exterminators."
Stack's legislation specifically mentions Iran because of its reported plans for nuclear weapons and comments by Iran's president that Israel should be destroyed.
The measure also cites Sudan because of the conflict between the government and rebels in that country's western region of Darfur where the United Nations says 300,000 people have died.
Stack says this will not hurt the state's bottom line.

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