Darfur Divestment?
Two weeks ago, an anonymous diplomat at the United Nations leaked a confidential report to the press. Sudanese government officials, the report found, are packing airplanes full of bombs and guns, painting them white and stenciling "U.N." onto the wings, then flying them to the Darfur region where militias use the weapons to murder civilians.
What does this latest discovery of deceit, four years into a genocide that has already killed at least 200,000 innocent civilians, displaced 2.3 million and led to untold numbers of rapes, have to do with federal pay and benefits?
Possibly quite a lot, according to Rep. Barbara Lee, D-Calif. Retirement investments in the Thrift Savings Plan, a 401(k)-style program, may be helping to fund Sudan's atrocities.
The Save Darfur Coalition, an umbrella group of humanitarian and faith-based organizations working to stop the genocide, estimates that 70 percent of oil revenues Sudan receives from international oil companies operating in the country fund the military, including the planes in that U.N. report. Some TSP funds may be invested in these companies.
In the interest of full disclosure, I am personally active in the Save Darfur movement, donating both time and money to the coalition.
Lee is personally active in the issue, too. She has visited Darfur three times; the last time was just last month. She also was arrested for protesting in front of the Sudanese embassy in Washington last summer.
"The situation in Darfur is deteriorating, more and more people are dying and even humanitarian aid workers are at risk," Lee said after her April visit.
She has reintroduced a bill (H.R. 180) that would require the Government Accountability Office to investigate TSP investments in companies supporting the genocide. It doesn't go so far as to ask for divestment, though it's clearly a first step on that path.
The Darfur divestment movement is gaining ground. Seven states, including California, and several universities have divested money from Sudan.
In 2005, Lee asked then TSP Executive Director Gary Amelio to respond for the record to Sudan divestment.
"The board must make all investment decisions solely in the interests of participants and the beneficiaries of the TSP without regard to other objectives, however meritorious," Amelio said.
When asked to respond to Lee's reintroduction of the Darfur bill, which has passionate backers from both parties, the board referred to its two-year-old statement.
The TSP has gotten a lot of requests over the years to change its investment policies for various reasons. The $200 billion in the plan packs an influential punch, and groups want that influence for their cause. The board's position on Darfur divestment is the same one it takes with suggestions to divest from Iran or environmentally harmful companies.
In April 2005, when Harvard University decided to divest from PetroChina, a Chinese oil company with deep interests in Sudan, Harvard responded to that line of thinking.
"Although Harvard maintains a strong presumption against the divestment of stock for reasons unrelated to investment purposes, we believe that the case for divestment in this instance is persuasive," university officials said.
Why? "This decision reflects deep concerns about the grievous crisis that persists in the Darfur region of Sudan and about the extensive role of PetroChina."
Lee's bill only seeks information on TSP investments, because it's impossible to know right now how much of federal employees' savings are in funds that include the offending companies. Once that is known, it might be in TSP participants' best interest to go to work as public servants each day knowing they are not funding genocide.
COMMENTS
- When does it stop if we divest in the Darfur region do we then divest from the alcohol and tobacco industry as well? What about the weapon industry or chemical out TSP is in all of them. The politicans should interfere with Darfur not the TSP board. annoymous Posted May 8, 2007 3:26 PM
- I agree wholeheartedly with Barbara Fuller. It sickens me to think that in any however small way I might be CONTRIBUTING to the genocide occuring in Darfur. I feel very strongly that TSP should divest if there are indeed investments that are linked to contributing to the turmoil there. Connie Ruth Posted May 7, 2007 10:47 AM
- Thank you, Karen, for bringing this to our attention. I must disagree with Mr. Doan’s response since the financial weight of our retirement funds is sufficient to influence world events, America’s stance on many important issues, and their outcomes. This has been recognized by our elected representatives and many others; each with their own agendas. While I am appalled at such atrocities and often disagree with findings of the prestigious CATO institute I am compelled by the arguments of Mr. Tanner, Director of the Health and Welfare Studies Cato Institute to a Senate Committee on Government Investment of the Social Security Trust Fund back in April of 1997. While I don’t know the solution to the world’s troubles and appreciate the meaning of the expression “put your money where your mouth is”, I do not like our future retirement being manipulated for the cause “du jure”. Being apprised of such situations removes our heads from the sand of politics. This is a classic reason for increasing the feedback capability between the TSP board and the participants. I’ve heard a number of calls for new funds. From the push for the commercial cash-cow of a REIT to politically correct environmentally and humanitarian oriented causes, people are waking up to the fact that “boomers” got money and wish to use it for their own interests. Well, it’s our money and if some of us wish to put our money in this or that type of funds, we should be allowed. There should be a mechanism that allows us to communicate these desires; or lack there of. Additional funds would probably increase our costs, but if we’re willing to spend that then good for us. If we are not, that is our right also. I appeal to the newly installed Mr. Long, Director of the TSP, to use his polling experience to come up with a true feedback mechanism. Let us show our democracy and power. If we believe what we profess, then we should speak our minds. Tip off Posted May 4, 2007 2:04 PM
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