California treasurer thwarted in push for CalPERS gun divestment

[Eugene]

Source: Reuters

U.S. MARCH 19, 2018 / 7:43 PM / UPDATED 2 HOURS AGO

California treasurer thwarted in push for CalPERS gun divestment

Laila Kearney
3 MIN READ

(Reuters) - The California Public Employees’ Retirement System board on Monday voted against a proposal to move towards divesting its investments in assault rifle retailers and wholesalers, saying the move would do little to reduce gun violence.

State Treasurer John Chiang urged the board to take the step at a meeting in Sacramento. He was joined by relatives of mass shooting victims and California-based alumni of Florida’s Marjory Stoneman Douglas High School where an attack occurred last month.

“If we don’t do this, we’ll be going against the tide of history,” said Chiang, who is also a member of the investment committee and a Democratic gubernatorial candidate. “I urge you to go further.”

The CalPERS board investment committee voted 9-3 against Chiang’s request.

-snip-

Read more: https://www.reuters.com/article/us-california-calpers-guns/california-treasurer-thwarted-in-push-for-calpers-gun-divestment-idUSKBN1GV2ZM

[john657]

1. 9-3 against divestment?

That's a pretty significant number against, and it is correct that such a move would have no impact against firearm violence.