New York, NY – New York City’s $46.6 billion teacher pension fund has pulled its money out of publicly traded firearms manufacturers, becoming the largest U.S. public pension fund to do so in response to December’s school shootings in Connecticut, the city’s top financial officer said on Friday.
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According to New York City Comptroller John Liu, the five companies from which the fund divested are Alliant Techsystems Inc., Olin Corp., Forjas Taurus SA, Smith & Wesson Holding Corp. and Sturm, Ruger & Co.
Buy low, sell high, they’re making a profit on these!
Just another reason to not buy NYC municipality bonds
Isn’t that a violation of their fiduciary duty, making investment decisions for extraneous reasons?
They are the same companies that make weapons which protect them. Such twisted logic. Coca cola kills more people than guns. I’m sure there’s no qualms about investing in coke.