New York activists demand state stop buying Israel Bonds amid ethical and financial concerns
A coalition called Break the Bonds New York State is urging the state comptroller to halt purchases of Israel Bonds, targeting the $360 million held in the state retirement fund.
Break the Bonds New York State, a coalition that includes Jewish Voice for Peace and Democratic Socialists of America chapters, is pressing the New York State Comptroller to halt investments in Israel Bonds, which total more than $360 million in the state retirement system. Campaigners argue the bonds act as “blank checks” for Israel’s military spending and have become riskier after Moody’s downgraded the country’s credit rating.
They accuse Comptroller Thomas P. DiNapoli of politically motivated purchases, noting he has bought over $145 million since the October 2023 attacks and maintains close contacts with the Development Corporation for Israel and the Jewish Community Relations Council. Ethics complaints have been filed, and activists delivered over 3,400 petition signatures to DiNapoli’s Albany office. Municipal actions include Hudson’s city council resolution and a cease-and-desist letter from Democracy for the Arab World Now. Organizers say they will continue mobilizing public-sector workers until the comptroller’s office ends the bond purchases.
Why it matters
State funds may be supporting controversial foreign military actions while exposing retirees to financial risk.
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