As I have mentioned in the past, each year the Illinois State Board of Investments makes a purchase of $12 million in Israel State debt. This automatic purchasing began when Illinois State Senator Jeff Schoenberg, a strong supporter of Israel, got legislation passed that allows Illinois to purchase foreign debt.
Since that time, with the exception of a couple of early years when one or two other countries had debt purchased by Illinois to give the appearance of impartiality, Israel's $12 million from Illinois has stood alone as a single foreign debt line item in a list of well over 100 other items all of which are U.S. government or agency debt.
2012 will be no exception.
Here is my letter to each member of the 9 member Illinois State Board of Investment...