The folks signing on to this group include a fair number of Stricherz's Republican friends, including Mr. Powers, who brought the Iran investment issue to my attention a couple weeks ago, and state Young Republican chair Kyle Jensen. But signatories include folks from the left side of the aisle as well, including myself and Matt McGovern.
State Representative Dan Lederman (R-16/Dakota Dunes) tells group members that he has a bill in works that will include the following:
Targeted divestment limited to foreign oil companies making substantial improvements to Iran's oil production infrastructure
Grace period for investment officers to divest for maximum return
Sunset clause in the event the company ceases prohibited activity or until Iran has satisfied United Nation and United Stae's call to halt funding terrorist organizations
Lederman's bill sounds like a better idea than Senate Bill 21, which is our investment fund managers' request that we citizens and our legislators keep our noses out of our business and not hinder their work with any "social investment" requirements.
Rep. Bernie Hunhoff (D-18/Yankton) offered divestment legislation last year that fell short by one vote in the Commerce Committee. Let's hope Lederman, Hunhoff, and the rest of the Legislature can work together to get it right this year and get South Dakota money out of Iran, Sudan, and other bad places.
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Read more:
- Randy Dockendorf speaks with Stricherz and Lederman in the Jan. 8 Yankton Press & Dakotan. Governor Rounds declines to offer an opinion (that would take leadership, wouldn't it?).
- Stephen Rosenthal of Sioux Falls reminds us of several South Dakotans killed by roadside bombs, the very sort of terrorist devices funded by money trickling into Iran.
Wow...more evidence to support my post this morning that you and Pat Powers are in bed together, trying to use the government to micromanage America and enrich the plutocrats, perhaps unknowingly at first, but now you and he have been given the truth.
ReplyDeleteWould someone please explain to Steve that social investing and Dan Lederman's proposal are about exercising some popular control over how the wealthy elites use our money, in an effort to prevent our money from ending up in the hands of terrorists who want to kill us?
ReplyDeleteSteve, your comment really has nothing to do with the argument Patricia Stricherz and Dan Lederman are making, or that Bernie Hunhoff made last year. Please get on topic... and stop cluttering my comment section with your dead-horse beating.
Cory,
ReplyDeleteSince you brought up horses, ever hear the saying:
"You can lead a horse to water, but you can't make it drink."
In your case:
"You can lead a Progressive to truth, but you can't make him believe it."
Us free market guys are not into "social investing". Let people invest the way they want. Now don't commit another lie by saying I am for investing in Iran. If it was me, I would not. But since it is not me, then it is none of my business.
Well, it's my money, Steve. I hve money in SDRS. So does Erin. Our state is in charge of managing that money; it should not manage that money in such a way as to enrich terrorists. This is not a partisan issue. This is a common sense national security and morality issue.
ReplyDeleteSteve,
ReplyDeleteSo, let's pretend that there was an abortion clinic that I could buy shares of. And it was ridiculously profitable. So the state invested all of our SDRS money into the clinic. And of course, the abortion clinic used our money to open dozens of other clinics that were also ridiculously profitable.
So, would you still be in favor of allowing the free market to put the money where it is most profitable or would you say that the state should exercise some moral restraint and not invest in the clinic system?
Tony & Cory,
ReplyDeleteI would move the investment to one that I agree with. That would be a lot simplier than passing legislation.
So why not just move your money Cory?
Steve,
ReplyDeleteThat is not allowed as part of the SDRS system. The retirement system is controlled by the state. He would need to pass a law to be able to move his money out of the account...