Schwarzenegger Signs Iran Divestment Bill

(Sacramento, California) Yesterday, Gov. Schwarzenegger signed the bill.

From CenterForSecurityPolicy.org:

Today, Governor Arnold Schwarzenegger signed Assemblyman Joel Anderson's (R-El Cajon) Assembly Bill 221 to divest California's public retirement funds from billions of dollars invested in key foreign companies that invest in Iran.

"California has a long history of leadership and doing what's right with our investment portfolio," Schwarzenegger said in a written statement released last week in advance of the signing. "Last year, I was proud to sign legislation to divest from the Sudan to take a powerful stand against genocide. I look forward to signing legislation to divest from Iran to take an equally powerful stand against terrorism."

"Money is the mother's milk of terrorism. AB 221 will stop California's investments from being used to fund Iran's terror machine," said Anderson.

The Center for Security Policy cannot overemphasize the importance of this legislation, both due to the amount of money in California's pension systems and the significance of the most populous state in the Union leading the way to cut off corporate life support for the Ayatollahs.

It's about time.