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.
Important article, esp. considering that they had already ended preferential treatment for Israel bonds in 2022.
But
Is it just me, or does that imply that Mamdani has more power than he has? I surely hope checks’n’balances are back in fashion in NYC.
Probably just a clickbait headline - all media outlets do this nowadays, big or small.