Is Your State Investing in Terrorism? - Missouri and Ohio Treasurers Are Taking Action
Kudos to Republican Missouri Treasurer, Sarah Steelman, who has encouraged other state treasurers to follow her lead in being proactive against financing terrorism! States, like individuals, have investment portfolios. What Steelman has proposed is that states get rid of stocks in companies that partner with governments in Iran, Syria, Sudan or North Korea (all nations that are well known for "state sponsored terrorism", where government funds are used to support terrorist organizations).
On April 18, 2007, Steelman testified in a special U.S. House hearing on "Isolating Proliferators and Sponsors of Terror: The Use of Sanctions and the International Financial System to Change Regime Behavior." This hearing was a joint subcommittee hearing by the Committee on Foreign Affairs, Subcommittee on Terrorism, Nonproliferation and Trade, and the Committee on Financial Services, Subcommittee on Domestic and International Monetary Policy, Trade and Technology.
In her testimony, she stated, in part: "The people's money should never be used to support terrorism or terrorist-sponsoring states. Too often in our national debate on this issue, we forget what is really at stake. This is really about our families. It is about our husbands and wives, brothers and sisters, sons and daughters. It is about keeping them safe and secure. And in the effort to do so, it seems strange that we send young men and women to defend us, some of whom pay the ultimate sacrifice, however, we have not yet used one of our most powerful weapons-America's financial markets. Every effort and means to win this fight, and every person in this country, should be a part of the victory."
Recent headlines indicate that other states are quickly beginning to follow her lead.
Democratic Ohio Treasurer, Richard Cordray, is doing more than just divesting such stocks currently held by the state of Ohio, he is instituting state policy so as to insure that future Treasurers do not make investments with any connection to terrorist groups.
On April 18, 2007, Steelman testified in a special U.S. House hearing on "Isolating Proliferators and Sponsors of Terror: The Use of Sanctions and the International Financial System to Change Regime Behavior." This hearing was a joint subcommittee hearing by the Committee on Foreign Affairs, Subcommittee on Terrorism, Nonproliferation and Trade, and the Committee on Financial Services, Subcommittee on Domestic and International Monetary Policy, Trade and Technology.
In her testimony, she stated, in part: "The people's money should never be used to support terrorism or terrorist-sponsoring states. Too often in our national debate on this issue, we forget what is really at stake. This is really about our families. It is about our husbands and wives, brothers and sisters, sons and daughters. It is about keeping them safe and secure. And in the effort to do so, it seems strange that we send young men and women to defend us, some of whom pay the ultimate sacrifice, however, we have not yet used one of our most powerful weapons-America's financial markets. Every effort and means to win this fight, and every person in this country, should be a part of the victory."
Recent headlines indicate that other states are quickly beginning to follow her lead.
Democratic Ohio Treasurer, Richard Cordray, is doing more than just divesting such stocks currently held by the state of Ohio, he is instituting state policy so as to insure that future Treasurers do not make investments with any connection to terrorist groups.
- Our United States invest billions of dollars internationally every year.
- Countries like Iran, Syria, Sudan and North Korea openly support terrorism.
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