Dozens of states have passed laws forbidding state and local governments from doing business with companies invested in Iran, but one short paragraph in the nuclear deal negotiated by President Obama appears to shatter these efforts.
In 2006, as treasurer of Missouri, I decided to divest state funds—including in employee pensions—from any bank, company or financial institution doing business with a terrorist-sponsoring state. At that time the list included Iran, North Korea, Syria and Sudan.
I believed it was my constitutional and fiduciary responsibility to the people of Missouri to prevent their money from potentially helping support terrorist activities. At least 30 other states have undertaken similar initiatives.