Posted on 02/28/2007 2:05:54 AM PST by MadIvan
Benjamin Netanyahu, Israel’s right-wing opposition leader, on Tuesday urged multibillion dollar US state pension funds to pull their assets out of companies doing business with Iran in order to pressure Tehran to abandon its alleged nuclear weapons programme.
“If anyone says we have to act against Iran, here’s a perfect way to do it,” Mr Netanyahu told foreign diplomats and journalists. “Activity to bring non-military pressure on the Iranian regime is very potent.”
The Likud leader, a former prime minister who aspires to regaining the post he relinquished in 1999, said he had already had talks with US politicians, including Arnold Schwarzenegger, the governor of California, calling for a policy of disinvestment. California’s public employees’ retirement system has $228bn (€172bn, £116bn) invested.
“If you can get 50 pension funds in the US withdrawing their funds, that would have an immediate impact [on Iran],” Mr Netanyahu said.
Mr Netanyahu has emerged as Israel’s most prominent hawk in the debate on how to deal with Iran’s perceived threat. He has claimed, in the US and Israel, that Mahmoud Ahmedinejad, the Iranian president, is planning a second Holocaust and warned: “It’s 1938 and Iran is Germany.”
Ehud Olmert, the Israeli prime minister and a long-term political rival, has attempted to dampen such rhetoric by stating that Israel is committed to an international diplomatic solution to the Iranian crisis.
Condoleezza Rice, the US secretary of state, indirectly rebuked Mr Netanyahu when she this month said of his 1938 reference: “I am fond of historical analogies, but not that fond.”
Mr Netanyahu on Tuesday said he had not abandoned hope of avoiding military action. “Why rush to a military attack if you can use other means?” he said.
He said disinvestment would help convince the Iranians of the folly of their leader’s nuclear aspirations.
Mr Netanyahu is to return to the US next month to pursue his disinvestment campaign. He noted that some states, including Missouri, had taken action. Missouri legislators this month called on public pension funds not to invest in companies with links to nations the State Department regarded as sponsors of terrorism.
Regards, Ivan
Ping!
A complete oil sanction is in order. Every nation should be put on the spot to stop buying oil from Iran.
As for Secretary Rice not being "fond" of the analogy comparing Iranian leadership to the leaders of Nazi Germany, we shall in time find out as to whether she'll change her mind about that.
I like the idea too. The Presbyterian Church USA will hate it though. They only approve of efforts to divest with Israel.
ping
Regards, Ivan
There is not much business in iran besides oil, and US companies are prohibited from invesing in it, IIRC. So there wouldn't be much to divest, as US pension funds foreign holdings are not that significant.
Bibi needs to be prime minister NOW!
Well, not to take anything away from Bibi but Chris Wallace had the same effect.
LOL!
No doubt Weasley Clark will have something to say about those 'joooss' again!
I think it's amazing that he had to tell them that. You'd think that a pension fund would avoid risk. Defined contribution investments are regulated and their plan administrators are required to show evidence that the investment is priced independently (eg no off market trading)
Rice is just another useless appendage of a useless department.
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