After proclaiming earlier this year that the State of Illinois should "divest from Israeli bonds", candidate Mike Frerichs has backtracked (once again).
From July of this year:
Frerichs’ criticism of overseas investments also is at odds with his past voting record. As a Senator, Frerichs has supported overseas investments , but now as a candidate for Treasurer, Frerichs is leveling harsh criticism at the Treasurer’s global investment strategy.And then from this week:
One country that would be singled out under Frerichs’ plan is Israel. The office of Treasurer currently has $25 million invested in foreign bonds, all with the country of Israel.
More than 80 states and municipalities in the United States currently invest in Israel bonds. Last month the state of Ohio invested over $47 million in Israel bonds. Today, an Israel Bond with a 10 year maturity pays nearly 1.4% above the U.S. Treasury rate for the same length. Since the introduction of the bonds in 1951, Israel has never missed or defaulted on a payment.
Which really seems to nail home what Mike Frerichs' hometown newspaper the Champaign News-Gazette said about him:
“But [Frerichs] clearly doesn’t know what he really thinks, and, when candidates don’t know what they believe, they say whatever seems convenient at the moment.”
