Zohran Mamdani, a familiar name in New York’s political scene, is stirring things up. If he lands the mayor’s seat, he’s thinking about yanking New York City pension funds out of Israel.

During a Sunday chat on CBS2 New York’s “The Point with Marcia Kramer,” Mamdani didn’t hold back. “We shouldn’t have funds tangled up with anything against international law,” he put it bluntly. You can catch more of his thoughts here.

Mamdani’s running as the Democratic mayoral candidate and he’s got eyes on divesting from Israeli bonds. If you’ve been around the New York block, you might recall that Brad Lander, the current comptroller, is kind of on the same page. He stopped reinvesting in those bonds when they hit maturity. Lander’s move was a game-changer, considering the city had poured money into those bonds since the 1970s.

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Divestment Drama

Comptroller Lander, who Mamdani practically calls a pal, shut the door on reinvesting those bonds. Yet, he’s also said the city keeps over $300 million tied up in Israeli firms. That’s a chunk of change.

Mamdani’s statement rattled some cages. Pension funds still cozy up to some Israeli companies, even as bond investments dried up. But Mamdani argues, “Direct involvement is key.” He insists that funneling into Israel bonds screams something about our city’s values. Want to know more about that viewpoint? Check out NY Times.

A Cautious Caller

It’s worth mentioning that Mamdani’s stance isn’t all-encompassing. While he chants “BDS” at pro-Palestinian gatherings, he’s not pushing to cut ties with all Israeli firms. It’s a delicate dance for him.

Political Tug-of-War

Investments and pensions get caught in political crossfire, especially with Manhattan Borough President Mark Levine in the comptroller race. Levine’s been adamant about backing Israel bonds. He wants to team up with other pension trustees, chasing solid, stable returns. His spokesperson, Annabel Lassally, reiterated that recently.

Voices and Barks

Former City Comptroller Scott Stringer had no qualms calling out Mamdani’s proposed divestment as a “mistake.” He believes Israel bonds have been a sturdy bet since the disco era. Israel Bonds’ CEO, Dani Naveh, also piped in, noting a massive $5.5 billion in investments since October 7th. More deets on this sentiment can be found here.

The Bottom Line

So, if Mamdani wears the mayoral crown, there’s a potential showdown. With his appointees on pension boards, he could butt heads with the comptroller over Israel bonds. But one thing’s certain: pensions and politics in New York are anything but dull.

Interested in more local breakdowns? Stay tuned on NY1.

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