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Saturday, 25 March 2017 07:00

California may divest from companies building Trump’s wall

Written by  Leslie Eastman

Never change, California

While California’s Governor Jerry Brown is in Washington, D.C., asking for the Trump administration for funding to help pay for storm damage repair and train construction, the state’s legislators have been busy working against the American President.

The border wall is the cornerstone of President Trump’s campaign platform. This week, Sacramento politicians proposed a bill that that would divest its pension funds from companies engaged in the building of that wall.

Assembly Bill 946 would give CalPERS and CalSTRS, the state’s massive public employee and teacher retirement systems, one year to identify and liquidate any holdings in companies working on the wall, a central campaign promise of Trump’s for which his administration is now accepting bids.

…With portfolios worth hundreds of billions of dollars, CalPERS and CalSTRS are frequent targets for groups seeking to make a powerful political statement by pressuring the funds into cutting ties with a particular industry. Recent years have brought debates over whether California should be invested in tobacco, coal, guns and the Dakota Access Pipeline.

I suspect that this proposal will not be as successful as the politicians believe. History suggests that anti-Trump boycotts have proven that they have an opposite effect.

Read more at LegalInsurrection

User comments


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Hopefully California will secede and we won't have to listen to their selfish insane remarks about the administration. If they don't want to have business with those who are going to bid on the wall who cares ! There are 49 other states to work with . I hope Trump gives them a minuscule amount of money for their dam . They should have been using that money for the reason it was issued instead of supporting all those leeches from the south and middle east to sustain votes !! To hell with the country is their motto, so I say to hell with them . Don't give them a cent for their sanctuary cities !!!

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Should the state choose not to deal with these copmpanies I hope these comapnies sue the state and win. At the same time I hope the Federal Government stops funding much of the areas you get Federal tax money from.
Illegal is illegal or are you just concerned about dishonesty and corruption, & getting away with is it has been for all these decades past.

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