Local Palestinian groups claimed victory in persuading the Lucas County treasurer not to reinvest county money in Israel bonds to send the message that Lucas County residents are outraged over the death toll in the Gaza war.
In fact, there was no such victory, as shown by The Blade’s analysis on Monday’s paper, “Attorney says bond claims ‘overoptimistic.’”
What happened was that Lucas County Treasurer Lindsay Webb decided not to reinvest $1.5 million in matured Israel bonds because she had already invested the maximum amount that state law allowed.
Ms. Webb followed state law and her office’s strategy, which is designed to gain the best rate of interest on the county’s investments. It happens that in 2023, shortly after the attack by Hamas on Israel, Ms. Webb put $5 million in an Israel bond. When a second bond matured in May, she opted to let it retire because to reinvest the $1.5 million would have exceeded the amount recommended by the state.
Yet group “American Muslims for Palestine — Toledo” then went public crowing that it had scored a direct hit on Israeli “genocide” in Gaza.
The organization specifically credited county Commission President Pete Gerken and Ms. Webb with implementing the county’s show of disapproval of Israel’s war in Gaza.
It’s clear that Mr. Gerken, a member of the investment advisory committee, acted on his personal opinion about the tragedy in Gaza that was started by Hamas on Oct. 7, 2023, and then responded to by Israel. He said he opposed the bond investment at least partly for that reason. Mr. Gerken has no mandate to speak for Lucas County on the war in Gaza.
Ms. Webb decided that with $5 million in bonds, Lucas County is adequately invested in our ally in the Middle East.
