"Chicago Mayor Orders All City Pension Funds To Divest From Guns"
On Monday, Chicago Mayor and former Obama Chief of Staff Rahm Emanuel announced that he has ordered all pension funds in the city of Chicago to divest their interests from gun manufacturers.
Speaking at a gun violence prevention event at the Center for American Progress Action Fund, Emanuel said that he hopes other mayors will follow suit:
None of the things we’re doing today also is to continue to put the pressure on this is I’ve ordered all of the Chicago pension funds to check any of their investments and if they have it, we’re going to divest of any investments they have in any gun manufacturer. …All guns. I’m going to lead a charge among all mayors to have that effort, as a compliment to everything else going on.
The announcement comes just one day before Vice President Joe Biden is set to deliver to President Obama his recommendations for stronger gun laws. The suggestions will come from the opinions of a task force set up in the wake of the shooting at Sandy Hook Elementary School.
Emanuel has previously hinted that he would like to look at ordinances that prevent the sale of assault weapons, assault magazines, and that require background checks.
Chicago has been brought to the fore in discussions about stronger gun laws. The city has suffered immensely high rates of violent gun crime over the last year, with gun deaths for 2012 surpassing troop deaths in Afghanistan by the month of June.