McCain urges institutions to pull money out of Iran
USA Today
02-Jun-2008 (one comment)
WASHINGTON — Presidential hopeful John McCain Monday called on corporations and government institutions worldwide to pull their money out of Iran as a way to pressure the regime into giving up its nuclear ambitions.

In calling for a global divestment campaign against Iran, McCain told the American Israel Public Affairs Committee that "Tehran's continued pursuit of nuclear weapons poses an unacceptable risk, a danger we cannot allow."

McCain quoted comments of Iranian President Mahmoud Ahmadinejad, who has called Israel "a stinking corpse" that is "on its way to annihilation." He used those comments to mock Democratic presidential hopeful Barack Obama's calls to meet with the leaders of Iran and other nations that have been critical of the United States.

It's hard to see what an Ahmadinejad meeting would gain, McCain said, "except an earful of anti-Semitic rants, and a worldwide audience for a man who denies one Holocaust and talks before frenzied crowds about starting another."

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Obama offered the same

by Anonymousmm (not verified) on

Obama offered the same divestment bill in 2007:

"We should privatize the sanctions against Iran by launching a worldwide divestment campaign," he said. "As more people, businesses, pension funds, and financial institutions across the world divest from companies doing business with Iran, the radical elite who run that country will become even more unpopular than they are already."
But, as demonstrated by the CNOOC anecdote, if choking off Tehran's economic lifeblood is McCain's goal, he could have personally started down that road years ago -- with his own advisers.

... In 2007, moreover, Obama sponsored an Iran divestment bill that he claimed "would educate investors and pressure foreign companies to reconsider doing business with Iran by requiring the U.S. government to publish - every six months - a list of companies that invest more than $20 million in Iran's energy sector."
It was Alabama Republican Richard Shelby who held up the measure in the Senate in what was described by the Israel paper Haarezt, as "a favor" for the Bush administration. Today, it is still on hold.