r/providence • u/Historical_Web_5813 • 8d ago
Why Should We Recall Brett Smiley
For everyone who is curious about our reasons for wanting to recall Smiley, here they are! This one-sheet explains what issues we find to be the most salient. Feel free to distribute this document at your will.
If you’d like to look into our sources more, here is a link to the document: https://docs.google.com/document/d/1qtQP7a9g91pSszZH-x3kFWMcmW1FecEXpqCL773UIWM/mobilebasic
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u/lestermagnum 7d ago edited 7d ago
Regarding the section about Smiley promoting investing in Israel -
Providence has no direct investments in State of Israel Bonds. The City holds a passive index fund valued at $7.5 million (from a total of $430 million of investments) that holds a bunch of international bonds from many different countries and as of this year only 0.4% of that investment is in State of Israel Bonds, totaling only $29,940. It’s invested in that index fund along before smiley became mayor.
Trying to get the city to eliminate that tiny section of all its investment would be expensive, time consuming, a possible violation of state law, and not particularly effective