Quote: The University of California Student Association board – which represents all 233,000 students enrolled in the UC system’s 10 campuses – approved a resolution on Sunday that calls on the system’s leaders to financially divest from the United States.

The measure cited alleged human rights violations by America such as drone strikes that have killed civilians, and claimed the country’s criminal justice system is racist, among other accusations.

The “Resolution Toward Socially Responsible Investment at the University of California” passed with an overwhelming majority vote of 11-1-3.

“The government of the United States of America is engaged in drone strikes that have killed over 2,400 people in Pakistan and Yemen, many of them civilians,” the resolution stated. “The government oversees, by far, the highest rate of imprisonment in the world, and racial and ethnic minorities are disproportionately targeted by law enforcement agencies, particularly for drug-related offences. 400,000 undocumenteducal immigrants are held in detention centers every year, and millions have been deported since the current administration took office, and the government is directly supporting and propping up numerous dictatorships around the world with weapons sales and foreign aid.”

The resolution also called on UC system leaders “to withdraw investments in securities, endowments, mutual funds, and other monetary instruments with holdings” from the governments of Brazil, Egypt, Indonesia, Russia, Turkey, Israel, Sri Lanka and Mexico, as well as the U.S.

“This resolution aims neither to condemn entire countries, peoples, or communities nor to determine political solutions, but is solely aimed at ending our university’s support of governments that directly engage in and enable human rights violations,” it stated.[…]

But it’s rare to see a call to divest from America itself.

“Think about that. If they had their way, the student government of the U. Cal. system would require divestment from U.S. Treasuries and most of the world,” Cornell University law Professor William Jacobson points out on Legal Insurrection, responding to the vote. “The U. Cal. student government has proven a point I’ve made repeatedly in terms of the academic boycott: If you are going to boycott Israel, then you need to apply those standards to the whole world, which will result in boycotting yourselves.”

“I’m not glad that the Israel divestment passed, but at least it passed combined with a resolution which made the anti-Israel students and U. Cal student government look like fools.”

But student groups who helped passed the measures have pledged to take their fight to the UC Regents, the 26-member board which governs the University of California.

(02-09-2015 10:54 PM)miko33 Wrote:  Maybe the students are really worried about a collapsing bond market when yields eventually rise.

Quote:The resolution also called on UC system leaders “to withdraw investments in securities, endowments, mutual funds, and other monetary instruments with holdings” from the governments of Brazil, Egypt, Indonesia, Russia, Turkey, Israel, Sri Lanka and Mexico, as well as the U.S.

(02-10-2015 09:20 AM)Lord Stanley Wrote:  By divesting from the USA and other countries that don't fit the moral compass of a 22 far left Berkeley liberal, where on earth is the University of California supposed to invest their money?

This is actually a serious question. Do they invest in Canadian maple futures? New Zealand wool stock? Bahamanian salt flat real estate?

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Berkeley?

(02-10-2015 09:20 AM)Lord Stanley Wrote:  By divesting from the USA and other countries that don't fit the moral compass of a 22 far left Berkeley liberal, where on earth is the University of California supposed to invest their money?

This is actually a serious question. Do they invest in Canadian maple futures? New Zealand wool stock? Bahamanian salt flat real estate?

W
T
F

Berkeley?

(02-09-2015 10:17 PM)smn1256 Wrote:  Is this what college teaches kids today - stupidity. College is supposed to prepare kids for their futures. Now all they have are huge college loan debts and no available jobs.

(02-10-2015 09:24 AM)miko33 Wrote:  

(02-10-2015 09:20 AM)Lord Stanley Wrote:  By divesting from the USA and other countries that don't fit the moral compass of a 22 far left Berkeley liberal, where on earth is the University of California supposed to invest their money?

This is actually a serious question. Do they invest in Canadian maple futures? New Zealand wool stock? Bahamanian salt flat real estate?

W
T
F

Berkeley?

Municipal bonds, corporate bonds, bank CDs, real estate, commodities futures, etc.

Basically, they would have to invest in state/local muni bonds and corporate bonds for safety and maybe beef up exposure to REITs.