Pat Powers is right: this is an issue where we strip off the party labels and talk about doing the right thing.
Dakota War College spotlights a gross injustice in South Dakota's state investments. According to Powers, of the money we use to fund pensions for our state employees, 29% is invested with companies connected to terrorist states. Of 55 companies where we invest our money, 44 deal with Iran, 18 deal with Syria, 16 with Sudan, and 10 with Libya.
If you think President Obama is a menace for suggesting we talk with Iran, how do you feel about Pierre investing your money there?
Powers notes that the honchos of the state investment council and retirement system are pushing legislation to keep the Legislature from interfering with their investment decisions, even if those decisions are socially unsavory. He says State Rep. Dan Lederman is leading a group of legislators who will fight to get our money out of Iran.
Powers makes a clear call to all South Dakotans to get on board with terror-free investment of state dollars. I can't argue with that. Yes, social investing would create some more hassle for state investment officer Matt Clark. But he gets paid big bucks to do hard work like that. He also gets paid big bucks to do the will of the people of South Dakota. I suspect South Dakotans will agree that no marginal growth of our state investment fund is worth funding roadside bombs, political oppression, or genocide.
Keep an eye out for Lederman's bill... and morality in state investments.
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