by Eric Lendrum
State Treasurers in Massachusetts and Nevada have announced their intentions to divest millions of dollars in state funds from investing in gun manufacturers and other firearms-related businesses.
As reported by Newsweek, the two statewide officials, both Democrats, made their plans clear on Thursday, seeking public support for their decisions. In Nevada, Zach Conine (D-Nev.) released a video statement explained his reasoning for seeking to cut ties between companies that produce âassault-style weaponsâ and the $47 billion in state funds that his office oversees.
âIn my opinion, they expose the state to too much risk,â said Conine. âAs a chief investment officer of Nevada, managing risk to Nevadaâs taxpayers is my responsibility. The moral risk for investing in these companies is too high and is more than we are willing to bear, and investment is fundamentally plans for the future.â Conine added that his plans would not see the state simply sell off all the current investments immediately, as this would produce a loss for the state; instead, he said he plans to hold the investments until maturity, then never buy into such investments again…