NCPA - National Center for Policy Analysis

FREEDOM'S NEW WEAPON

September 12, 2006

America is employing a powerful new weapon in the global conflict with Islamo-fascism and its aiders and abettors, and we are starting to unleash our financial power to hurt freedom's enemies and those who are enabling them, says columnist Frank J. Gaffney Jr.

Consider the following recent example of financial warfare:   

  • Nearly two years after the Center for Security Policy first published an analysis showing roughly 100 U.S. public pension funds had invested some $188 billion in companies doing business with terrorist-sponsoring states (http://www.divestterror.org/report.html), Missouri's State Treasurer, Sarah Steelman, made the first of such funds -- the Missouri Investment Trust (MIT) -- "terror-free."
  • She did so by divesting the stocks held in portfolios whose issuing companies are involved with countries like Iran, North Korea, Sudan and Syria.
  • Importantly, Treasurer Steelman took this first-in-the-nation step to divest terror after a rigorous market analysis; it demonstrated conclusively that MIT's beneficiaries could not only support the war effort by investing terror-free, they could actually make more money in the process.

Thanks to her leadership, a model has been created that should be followed by every public pension fund in the country -- starting with the many-billion dollar Federal Thrift Savings Plan for which all executive branch, congressional and other federal government employees are eligible, says Gaffney Jr.

Source: Frank J. Gaffney Jr., "Freedom's new weapon," Washington Times, September 12, 2006.

 

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