NYC Comptroller Reverses Pledge to Invest in Israeli Bonds
Summarized from Ynetnews by baba
New York City Comptroller Mark Levine has reversed his campaign promise to invest in Israeli government bonds for the city's pension funds, citing financial and technical reasons. Levine, a Jewish Democrat, stated the decision was not political, despite his personal connections to Israel. The move reverses a pledge made during his election campaign and follows a review by his investment team. While the financial impact on Israel is small, the decision carries symbolic weight, as the city's pension system had invested in these bonds for decades.
The story in 6 lines · by baba
- NYC Comptroller Mark Levine will not invest in Israeli government bonds due to financial and technical concerns.
- Levine reversed a campaign promise to resume purchasing Israeli bonds for the city's pension funds.
- The decision was made by Levine's investment team and is based on financial considerations, not politics.
- New York City's pension funds still hold over $285 million in Israeli companies.
- The previous comptroller, Brad Lander, also chose not to purchase new Israeli bonds.
- The New York State pension fund continues to hold significant investments in Israeli bonds.
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