Latest news with #IsraelBonds
New York Post
2 days ago
- Business
- New York Post
Mark Levine will reinvest in Israel Bonds as next NYC comptroller — reversing Brad Lander divestment
The leading candidate for Big Apple comptroller says he will reinvest millions of dollars of city pension funds into Israeli bonds — after current Comptroller Brad Lander divested from them. When Lander took office in 2022, the pension funds of city government workers and retirees that he oversees had $39.9 million of assets in Israeli bonds. When the bonds matured, Lander did not reinvest in them, in effect divesting the pension funds from bonds that New York City had invested in since the 1970s. Advertisement Brad Lander did not reinvest in Israeli bonds, despite it being a standard practice by the city since the 1970s Adam Gray for New York Post A campaign rep for Levine — Manhattan's borough president and the Democratic nominee for comptroller and thus likely next comptroller — said his boss will invest in Israel government bonds again if elected. 'We have a globally diversified portfolio, and that should include investments in Israel and Israel Bonds, which have paid solid dividends for 75 years,' Levine had said during the June comptroller primary-race debate with rival and Brooklyn Councilman, Justin Brannan. Advertisement 'We are now the only pension fund in America without that investment,' Levine said at the time. 'I think prudent management for global diversity should include investment in those assets.' Lander was criticized during his mayoral campaign for divesting from Israeli bonds. Foes have noted that he and Israel-bashing socialist buddy Zohran Mamdani cross-endorsed each other in the city's Democratic primary in June — a move that is credited with helping propel the far-left Mamdani well in front of the pack to clinch the party's nomination. Lander recently spelled out his divestment decision in a response letter to First Deputy Mayor Randy Mastro, who had ripped the divesting. Advertisement Lander had accused prior comptrollers of investing pension funds from unionized workers in Israeli bonds for political reasons, not for prudent returns. The Big Apple first invested $30 million in State of Israel Bonds in 1974 under former city Comptroller Harrison Goldin through its pension funds for educators. 'We are now the only pension fund in America without that investment,' Mark Levine (pictured) said during June's debate. 'I think prudent management for global diversity should include investment in those assets.' Pacific Press/LightRocket via Getty Images 'The decision to invest only in Israel bonds, when the funds held no other country's bonds, and to invest assets intended for short-term cash management in longer-term bond instruments, was a political decision, not a fiduciary one,' Lander said in his July 13 letter. Advertisement 'The City's pension fund holdings of Israel bonds amounted to $39,947,160 at the time I took office in January 2022. In January 2023, those bonds matured, and our office was faced with the choice of whether or not to purchase new ones. We consulted our guidelines and made the prudent decision to follow them, and therefore not to continue investing in the sovereign debt of just one country.' Lander, who is Jewish and a self-described Zionist, added, 'To summarize: We treat investments in Israel as we treat investments in any other country. No better, and no worse. 'The [Boycott, Divestment, Sanctions] Movement asks investors to treat Israel worse than other countries; I oppose this effort. You appear to be asking that the City's pension funds treat Israel better than all other countries. That would also be politically motivated, and inconsistent with fiduciary duty.' He then accused Mayor Eric Adams of using the city's divestment of Israeli bonds as a 'cynical ploy' in his desperate re-election campaign. But Lander's predecessor as comptroller, Scott Stringer, said Lander was out of line for claiming that Israeli bonds are not a worthy investment. 'Brad got busted for BDS'ing the pension system. He got caught, and now he has to own up to it,' Stringer told The Post. Stringer said he was infuriated with Lander for claiming Stringer and other prior comptrollers invested in Israeli bonds for political, not sound financial, reasons. Advertisement He said Israeli bonds had always been a sound investment and told Lander to 'f–k off. 'If you get busted, you can't be trusted,' Stringer said. Israeli bonds are considered a solid investment, accumulating about 5% returns on average a year, records show. The New York state pension system, run by state Comptroller Tom DiNapoli, has more than $360 million invested in the Jewish state.
New York Post
6 days ago
- Politics
- New York Post
Smear merchant Brad Lander's lie about Mayor Adams is disgusting, even for him
Sleazy failed mayoral wannabe Brad Lander earned himself the title of absolute worst politician in New York on Wednesday when he suggested, evidence free, that Mayor Eric Adams was an associate of sexual predator Jeffrey Epstein. The remark came totally out of the blue, with Comptroller Slander — er, Lander — saying Adams' criticism of ICE arrests was a ploy. 'I have heard some people say maybe the mayor is in the Epstein files, and he's just trying to distract,' smirked the ethics-challenged fiscal watchdog. 'I have heard some people say'? Who, Brad? Don't throw the slime if you won't drop the dime. Lander's poo-flinging insinuation that Adams is a pedophile is a new low, even for this morally bankrupt poltroon. Now he disingenuously claims it was just a joke, but that damage is done. In any event, it's unseemly for him to be indulging in blatant electioneering on behalf of Zohran Mamdani's mayoral campaign instead of focusing on his day job — the city's shaky finances — in the hope of winning a spot in a Mamdani administration. And consider Brad Pander's own slimy record: He's carved out a niche as a token Jew whom rank antisemites can rely on to deflect criticism. Any time Jew-haters like, say, Mamdani, activist Linda Sarsour, Council Member Shahana Hanif or principal Debbie Almontaser need a 'Jewish' ally to pull their feet out of their antisemitic mouths, it's Lander to the rescue. While he claims to support Israel, he's strives to be one of its loudest critics, and even divested all city pension funds from Israel Bonds in 2023. As comptroller, he signs off on city payments to nonprofits. Meanwhile, his wife, Meg Barnette, was the CEO of Nonprofit New York, an umbrella and advocacy group for the same nonprofits that need her husband's signature. Convenient, no? He was also eyeball-deep in the Working Families Party's campaign-finance scandal. His longtime chief of staff, Rachel Goodman, was named in a 2015 indictment as a participant in a conspiracy to defraud the Campaign Finance Board. In one of his races for a City Council seat, he self-righteously slammed his opponent for sending his kid to a special-needs private school while he sent his own children to public school. In a city filled with vile politicians (Mamdani himself is a sure contender for Worst-of-All-Time), Lander clearly leads the pack. He's been a smug blot on the city ever since he showed up as a St. Louis-bred carpetbagger soiling Gotham with his smarmy socialism. Now he shows us he's also a dirt merchant. Charmed, we're sure.
The Journal
6 days ago
- Business
- The Journal
Gary Gannon launches legal action against Central Bank over approval of Israeli bonds
SOCIAL DEMOCRATS TD Gary Gannon has launched legal proceedings against the Central Bank of Ireland over claims that investors in Israeli bonds could be legally complicit in genocide in Gaza. Lawyers for Gannon lodged legal papers against the Central Bank in Dublin this afternoon. The Dublin Central TD alleges that the Central Bank's failure to ban the marketing, distribution and sale of Israeli bonds exposes investors to risks that have not been disclosed to them. Israeli State Bonds have been advertised as a method to support the country's economy and, more recently, websites promoting the investments have emphasised their importance to Israel's military operations in Gaza. Some TDs, as a result, have dubbed the securities as 'Israeli war bonds'. Speaking today, Gannon said the case asks whether Ireland's financial regulatory system 'can remain silent'. 'The Taoiseach has said clearly in the Dáil that what's happening in Gaza is genocide. Arrest warrants have been issued by the International Criminal Court. These are not distant issues – they raise urgent legal and moral questions for Ireland.' he said. 'These bonds are not neutral financial instruments. They are a funding pipeline for a military campaign that includes the bombardment and starvation of thousands of civilians. Letters, seen by the PA news agency, sent to Central Bank governor Gabriel Makhlouf in recent weeks by McGarr Solicitors, acting on behalf of Gannon, claim that these risks were not made known to investors in prospectuses for bonds, which had been approved by the Central Bank. The letter warns Makhlouf that the 'continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate the same'. Today, @GaryGannonTD submitted his case against the Central Bank, which aims to end the facilitation of the sale of Israeli war bonds. The sale of these bonds goes against EU and international law. We need to ensure that "never again" means never again. — Social Democrats (@SocDems) July 24, 2025 It goes on to say that the Central Bank is empowered under EU law to prohibit the marketing, distribution or sale of the Israeli Bonds. 'We call upon it to do so,' the letter adds. There have been ongoing calls for the Central Bank to end its role in approving Israel Bonds for sale in the EU. Advertisement The bank is the designated authority in relation to the sale of Israel bonds in the EU, and has determined the securities meet the standards of the bloc's prospectus regulations. Israel bonds have been advertised as supporting the country's economy and, more recently, websites promoting the securities emphasise their role in supporting Israel's military operations in Gaza. Protesters and opposition parties have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns. They say the bonds are intended to fund the war in Gaza, while Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. Last month, the government rejected a joint-proposal from the opposition which called on the Central Bank to stop facilitating the sale of Israeli bonds within the EU. The motion, put forward by the Social Democrats and supported by Sinn Féin, People Before Profit and the Labour Party, sought the reversal of a previous government decision to block a bill calling for the same measure in May . Gannon issued the letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said that there is 'no valid legal basis' to support Gannon's purported judicial review proceedings. They claimed that Gannon lacked the right or ability to bring the proceedings and that the bank is satisfied it does not meet the relevant criteria to exercise its powers under EU law. The letter also claims that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. However, Gannon said the Central Bank has the power to stop the sale of the bonds. The judicial review was formally issued this afternoon. Gannon said the Central Bank has the power under Article 42 of EU Markets in Financial Instruments Regulation to prohibit the sale of bonds that pose serious investor protection risks. He asked: 'If financing a regime accused of genocide doesn't meet that threshold, what does?' 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Irish Examiner
6 days ago
- Business
- Irish Examiner
Legal action launched against Central Bank over Israel bonds investments
A Social Democrats TD has launched legal proceedings against the Central Bank of Ireland over claims that investors in Israeli bonds could be legally complicit in genocide in Gaza. Lawyers for Gary Gannon lodged legal papers against the Central Bank in Dublin on Thursday. It is alleged that the Central Bank's failure to ban the marketing, distribution and sale of Israeli bonds exposes investors to risks that have not been disclosed to them. (The) continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate same Letters, seen by the PA news agency, sent to Gabriel Makhlouf, the governor of the Central Bank, in recent weeks by McGarr Solicitors, acting on behalf of Mr Gannon, claim that these risks were not made known to investors in prospectuses for bonds, which had been approved by the Central Bank. The letter warns Mr Makhlouf that the 'continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate the same'. It goes on to say that the Central Bank is empowered under EU law to prohibit the marketing, distribution or sale of the Israeli Bonds. 'We call upon it to do so,' the letter adds. There have been ongoing calls for the Central Bank to end its role in approving Israel Bonds for sale in the EU. The bank is the designated authority in relation to the sale of Israel bonds in the EU, and has determined the securities meet the standards of the bloc's prospectus regulations. Israel bonds have been advertised as supporting the country's economy and, more recently, websites promoting the securities emphasise their role in supporting Israel's military operations in Gaza. Protesters and opposition parties have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns. They say the bonds are intended to fund the war in Gaza, while Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. 'Politicians have spoken too long, all the while a genocide is being inflicted upon the population of Gaza. The demands today are clear – act Mr Gannon issued the letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said that there is 'no valid legal basis' to support Mr Gannon's purported judicial review proceedings. They claimed that Mr Gannon lacked locus standi to bring the proceedings and that the bank is satisfied it does not meet the relevant criteria to exercise its powers under EU law. The letter also claims that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. However, Mr Gannon said the Central Bank has the power to stop the sale of the bonds. The judicial review was formally issued on Thursday afternoon. Speaking at a pro-Palestinian rally on Saturday, Mr Gannon said: 'Politicians have spoken too long, all the while a genocide is being inflicted upon the population of Gaza. The demands today are clear – act. He added: 'On Tuesday, I'll be lodging papers against the Central Bank. Genocide can never be considered a technical matter – our only duty is to prevent it and punish those responsible.' Read More EU agrees €93bn worth of counter tariffs against the US if trade talks fail
Sunday World
19-07-2025
- Business
- Sunday World
Thousands take to the streets for pro-Palestinian rally in Dublin
It was the 16th such demonstration since October 2023 and came after the Dail rose for the summer recess. Thousands of people have taken part in a pro-Palestinian rally calling on the government to implement sanctions on Israel. Meanwhile, an opposition politician said he would be issuing a legal challenge to the Central Bank over its role in the sale of Israel Bonds. Saturday's rally saw demonstrators march from the Garden of Remembrance on Parnell Square to Leinster House. It was the 16th such demonstration since October 2023 and came after the Dail rose for the summer recess. The Ireland-Palestine Solidarity Campaign (IPSC) accused the government of an 'absolute refusal to hold Israel accountable for a genocide in which the Apartheid state has slaughtered more than 58,000 Palestinians'. The march demanded an end to the Central Bank's role in approving Israel Bonds for sale in the EU, for the Government to include services in the Occupied Territories Bill and to pass that legislation. Thouands of protesters on Molesworth Street outside Leinster House (Cillian Sherlock/PA) Today's News in 90 Seconds - July 19th Social Democrats TD Gary Gannon, who spoke at the rally, said he would be lodging legal papers against the Central Bank on Tuesday. The bank is the designated authority in relation to the sale of Israel Bonds in the EU, and has determined the securities meet the standards of the bloc's prospectus regulations. Israel Bonds have been advertised as supporting the country's economy and, more recently, websites promoting the securities emphasise their role in supporting Israel's military operations in Gaza. Protesters and opposition parties have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns. They say the bonds are intended to fund the war in Gaza, while Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. Social Democrats TD Gary Gannon addressed the rally (Brian Lawless/PA) Mr Gannon has issued a letter to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza. He said the Central Bank has the power to stop the sale of the bonds. He said: 'Politicians have spoken too long all the while a genocide is being inflicted upon the population of Gaza. The demands today are clear – act. He added: 'On Tuesday, I'll be lodging papers against the Central Bank. Genocide can never be considered a technical matter – our only duty is to prevent it and punish those responsible.' Marah Nijim, a 23-year-old who came to Ireland from Gaza three months ago, told the crowd she was forced to leave her home, her family and her 'soul' and 'heart'. She said Palestinians in Gaza are deprived of human rights, adding that she is 'living with nightmares' of people burning alive and calling for help. 'Protesting is not enough any more, we need real actions from Government. People in Gaza are being starved to death.' Demonstrators also called for an end to the use of Irish airspace for the transport of weapons to the region. The rally also criticised the government after 33 Palestinian children were recently denied entry to Ireland over visa issues. GAA Palestine said it had to take the 'heartbreaking' decision to cancel a planned Irish tour for the children. IPSC chairperson Zoe Lawlor said: 'The Irish government is barely lifting a finger to end Ireland's deep complicity in this genocide.' Ms Lawlor added: 'On top of this we have the appalling spectacle of the state refusing visas to child medical evacuees and Palestinian kids to visit Ireland to play our national sports.' Stretching along Molesworth Street in front of Leinster House was a 120ft long and 5.5ft wide quilt, made up of 2,300 panels. Each panel – the vast majority of which were knitted by hand – is designed to represent the deaths of 10 children in Gaza, adding up to a total of 23,000 children. Anna Doyle and Niamh Bonner, from Craftivism For Gaza, said they are still accepting squares as the death toll continues to rise. Ms Doyle told the PA news agency: 'Each square represents 10 children. Their voices have been lost to the world forever. 'It also represents the voice of the crafter because most of them are made by people who wouldn't be able to come to a protest.'
