More Momentum for Divesting From Iran

In his latest column, Dick Morris lays out the momentum building for divesting from any company that does business with Iran. While a lot of it has also been brought to light on this very blog, you will find some new and very encouraging information about efforts by the state of New York (which if true would mean all three of the biggest states are on their way). Here is the latest from Dick Morris

Columbia University this week managed to hand a PR victory to Iran's President
Mahmoud Ahmadinejad. It's time for another New York institution - thestate Office of the Comptroller - to join the drive to undermine this evil and dangerous regime.

California Gov. Arnold Schwarzenegger is set to sign a new law aimed atbanning Golden State public pension funds - which includes the two largest ones in America - from investing in companies that are involved in developing Iranianpetroleum or natural-gas resources. Florida's public-employee-retirement fund isdivesting nearly $1.3 billion invested with 21 companies doing business in Iranor Sudan. (California already hit Sudan's pocketbook last year.) Missouri andLouisiana have similar policies in place.

The blow to Iran's rulers should be huge. The California system alone has assets
totaling $350 billion - much of it invested in companies that do businesswith Iran such as Sieman's, Total, Respol and Shell.Here in New York, state Comptroller Thomas DiNapoli has total power over the state pension funds. He could add materially to the pressure on Iran simply by the stroke of a pen. CityComptroller William Thompson Jr. could help, by pushing to move Gotham pension funds away from Iranian-investing companies.City Council Majority Leader Joel Rivera (D-Bronx) is sponsoring aresolution calling on the state and the city to disinvest in companies that dobusiness with Iran. He says that more than $100 billion of the holdings by NewYork public pension funds are invested directly or indirectly in Iran.

It is time to help all you New Yorkers, please contact your assembly.