New York City’s pension funds could resume investing in Israeli government bonds, a move that would funnel public money directly into Israel’s treasury despite the ongoing genocide in Gaza and its apartheid system in the occupied West Bank.
“The Israel bonds have performed very well and they continue to be investment grade rated,” Mark Levine, New York City’s chief financial officer, told the FT. “My fiduciary responsibility is to make investment decisions based on that record of performance.”
Israeli government bonds function as direct loans to the state, providing steady interest payments to investors while channelling cash straight into government coffers.
I’d love to see the pensions investments into the alcohol, tobacco, and gambling industries. After all, they return far better than Isreali bonds ever could. If they’re judging their investments solely on the return, they should have the vast majority of their investments in these very safe, high return, but sin taxed industries, right? Or does that excuse only apply when we are talking about the Isreali governments sins…
