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New York pension fund may invest in Israel despite Gaza genocide, defying Mamdani (www.middleeasteye.net)

submitted 4 months ago by cm0002@lemmings.world to c/usa@midwest.social

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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.

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[–] Tinidril@midwest.social 3 points 4 months ago

My fiduciary responsibility is to make investment decisions based on that record of performance.

I thought past performance was no guarantee of future results. I wouldn't consider a global pariah state to be a stable place to invest - no matter what their past performance. There are no better options? Bullshit.