California Assembly Passes Historic Iran Divestment Bill

Iranians for a Secular Republic ^ | 6/5/2007 | Chip Englander & Collin McGlashen

[Ernest_at_the_Beach]

Sacramento, CA – Today, the California State Assembly overwhelmingly passed Assemblyman Joel Anderson’s (R-El Cajon) Assembly Bill 221 to divest California’s public retirement funds from key foreign businesses that invest in Iran.

“I am gratified by my colleagues’ strong bi-partisan support for this legislation, which will end California taxpayers’ investment in key foreign companies that invest in the Islamic Republic of Iran,” said Anderson.

Democrat Majority Whip Fiona Ma, a primary co-author of AB 221, said, “When CalPERS and CalSTRS invest State retirement funds in Iran, they put these investments at risk.”

“California’s taxpayers should not be investing in a country which funds terrorism,” said Anderson. “Money is the mother’s milk of terrorism.”

The California State Senate will be reviewing and voting on AB 221 later this summer. This historic legislation is the first of its kind in America, and has already prompted other states to follow California’s lead. Assemblyman Anderson’s legislation has garnered national and international media coverage. He’s been covered in nearly 200 articles in 13 countries for this historic legislation. Media outlets include Time Magazine, New York Times, Fox News, CNBC and CNN Headline News.

[Ernest_at_the_Beach]

Hat tip to Pajamas media :

Surf's Not Up for the Mullahs

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JM Hollywood

June 8, 2007 11:35 PM

Ahmadinejad: No more California Dreamin’

The California State Assembly is evidently fed up with Ahmadinejad & Company. They overwhelmingly passed a bill Thursday that would, if it also passes the State Senate and gets the Governor’s signature, require the state’s huge pension funds to divest all holdings in Iranian companies. Ardeshir Arian has been following this historic legislation for PJM.

by Ardeshir Arian

Last Thursday, the California State Assembly overwhelmingly passed (75-0) Assembly Bill 221 to divest California’s public retirement funds from key foreign businesses that invest in the Islamic Republic of Iran. This historic legislation is the first or its kind in America.

The bill will go onto the California State Senate later this summer, where it is expected to pass, and then be sent to Governor Schwarzenegger for signature.

The bill was introduced by Assemblyman Joel Anderson’s (R-El Cajon) who said “California’s taxpayers should not be investing in a country which funds terrorism.” He added “Money is the mother’s milk of terrorism.”

Final passage of this bill would prohibit California’s two largest pension funds CalPERS and CalSTRS (they are also the nation’s two largest) from investing public employee retirement funds in companies with business operations in Iran. Other states are said to be considering following suit.

Roozbeh Farahanipour, a student activist and an ex-political prisoner, who testified in Sacramento in favor of passing AB-22 , told Pajamas Media that the huge amount of 24 billion dollars that would be divested is almost equal to the amount of Islamic regime’s annual military budget.

As we stated in our last report, AB-221 faces opposition from groups often considered to be apologist for the Islamic regime like the National Iranian American Council (NIAC). Many Iranian expatriates around the world and in the US, including crown prince of Iran, Reza Pahlavi, support the legislation.

[Ernest_at_the_Beach]

I am surprised...some good from the California Assembly...

[Weeedley]

A busted clock is right 2 times per diem.

[SunkenCiv]

Joel Anderson's (R-El Cajon) Assembly Bill 221 to divest California's public retirement funds from key foreign businesses that invest in Iran. "I am gratified by my colleagues' strong bi-partisan support for this legislation, which will end California taxpayers' investment in key foreign companies that invest in the Islamic Republic of Iran," said Anderson. Democrat Majority Whip Fiona Ma, a primary co-author of AB 221, said, "When CalPERS and CalSTRS invest State retirement funds in Iran, they put these investments at risk." "California's taxpayers should not be investing in a country which funds terrorism," said Anderson. "Money is the mother's milk of terrorism." The California State Senate will be reviewing and voting on AB 221 later this summer.

Once again, the Dhimmicrat doesn't get it, and the Pubbie and author does. Thanks E, this is great news. I'm waiting for the scumbag lawsuits to emerge to attempt to force California to keep investing in Iran and terrorism.

[gas0linealley]

A list, posted here, of such companies would be helpful.

[pnh102]

some good from the California Assembly...

Given how large the economy of California is, it will be a huge blow to Iran. New Jersey passed a similar law. I hope all states and the federal government do the same thing.

[Marine_Uncle]

Great news E! And the pic you included of the clown is quite priceless. Ha ha. Every time I see a picture of him, I expect to see the accompanying “Nuke me” embossed on it. heheh.

[baa39]

It seems to me irresponsible for any public investment or retirement fund to have holdings of any foreign company. Why go abroad when we have plenty of opportunities to make excellent returns on American companies.

What is so brilliant or courageous about this anyway? Six years after 9/11, and some people are figuring out, hey, maybe we should not put our money where it can be funneled to terrorists?

[Berosus]

Florida passed such a law recently, too.

[Reagan is King]

Well, I’m shocked. I would be less surprised if California was increasing their investment in Iran as an apology to Bush’s meddling in their affairs. It should have been done long ago but better late than never Cali.

[Princip. Conservative]

Amazing that the California legislature actually does something right. That said, I guess this is to their credit, as well as the fact that they killed the euthansia bill the other day. However, it’s still a rogue legislature. They voted 42-34 in favor of gay marriage the other day. That’s pretty well unforgivable.

[goldstategop]

A lot of us have been pushing for disinvestment from Iran. I'm gratified with California's action. We don't need to subsidize terrorists with our investment dollars. If every state adopted a similar bill, it would send a powerful message to the Teheran regime: "We will not do business with the likes of you." Its one good thing California has done this year.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[Grampa Dave]

Good news, even if it is about 3 decades late.

I would like to see a list of companies, American and foriegn that invest in Iran.

Then, we can bang the hell out of any mutual fund manager and mutual fund company owning shares of these companies.

Ron Burkle and his #1 lackey, Bill Clintoon, are probably very upset with this possibility.

[FormerACLUmember]

One (one) single good thing from the otherwise insane California legislature. I am glad the Republican minorirty is not totally repressed by the Stalinist ruling democrats.

[phillyfanatic]

Usually these clowns are busy proposing more taxes, giving gays every right on earth never conceived of, and dealing with global warming and saving the gnat.