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Oct. 13, 2008
Rabbi Yonason Goldson: The Happiness Quotient
Jonathan Rosenblum: Ignore the Grandchildren
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Caroline B. Glick:
Lebanon on the brink --- and why it matters
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Rabbi Berel Wein: The day when the sane talk to themselves
Ana Veciana-Suarez: Many nonobservant Jews are finding religion
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Gary Rosenblatt: Of politics and prayer
Caroline B. Glick: The ironies of the West's collusion with the Arabs and Iran
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Rabbi Yitzchok R. Rubin: Mamma to the masses
Jonathan Tobin: Ahmadinejad Isn't Too Impressed
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Caroline B. Glick:
Olmert's parting blows
Oct. 2, 2008
The Jewish Ethicist
by Rabbi Dr. Asher Meir: Q: Often customers looking for our competitor accidentally enter our store. Can we just serve them without comment?
Jonathan Tobin: Jewish pundit quiz on next year's news
Sept. 29, 2008
Rabbi Eli Gewirtz: Lehman Brothers and the Day of Judgment
Rabbi Leiby Burnham: Apples, Honey and You
Sept. 26, 2008
Rabbi Yonason Goldson: The shofar and the Echo of Sinai
Caroline B. Glick: A road paved on reality
Sept. 24, 2008
Greg Crosby: Home for the Holy Days
Ethel G. Hofman: Rosh Hashanah Favorites: Old-fashioned taste, reduced calories
Sept. 23, 2008
Caroline Glick: Liberalism or lives!?
Michael Ledeen: Dear President Ahmadinejad
Sept. 22, 2008
The Jewish Ethicist
by Rabbi Dr. Asher Meir: Q: I gave a check to a local merchant, but it hasn't been cashed in months. Probably they lost it. Do I have to tell them?
Diana West: We are losing Europe to Islam
Sept. 19, 2008
Rabbi Berel Wein: On harvesting success
Caroline B. Glick: It is time to act
Sept. 18, 2008
Rabbi Hillel Goldberg: Is camping the panacea to save Jewry from self-destruction?
Craig Gordon: Was SNL hilarity too much for Hillary?
Sept. 17, 2008
Jonathan Tobin: The Whole World Is Watching
The Kosher Gourmet
By Linda Gassenheimer: East meets Southwest in this quick meal: MEXICAN-ASIAN TOSTADOS
Sept. 16, 2008
Frank J. Gaffney, Jr. : Into the fire
Everything's Relative : Your Official Jewish Guide to the 2008 USA Presidential Election
Sept. 15, 2008
The Jewish Ethicist
by Rabbi Dr. Asher Meir: Enabling risky behavior
Diana West:
A day that will live in ... accommodating Islam
Sept. 11, 2008
Rabbi Yonason Goldson: The skeleton in my closet
Rabbi Yechiel Eckstein: Persecution and systematic destruction of Christians in the Middle East must be stopped
Sept. 10, 2008
Jonathan Tobin: There's Something About Sarah
The Kosher Gourmet by Kathy Manweiler: Who needs Chili's when you have these? Recipes for Mexican that taste great and are dietetic!
Our commitment to freedom
Sept. 9, 2008
Daniel Pipes: Must counterinsurgency wars fail?
Frank J. Gaffney, Jr.:
Sept. 8, 2008
The Jewish Ethicist
by Rabbi Dr. Asher Meir: How far must one go to help somebody out of a contract?
Barry Rubin: Waiting For Something
Sept. 8, 2008
The Jewish Ethicist
by Rabbi Dr. Asher Meir : How far must one go to help somebody out of a contract?
Barry Rubin: Waiting For Something
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J-Rhythms with Avraham Rosenblum: JWR's cutting-edge music program showcasing performers -- singers, song writers, musicians, and bands -- who learn and live the Torah lifestyle (OUR NEWEST IGODCAST !)
Oct. 29, 2003
Mortimer B. Zuckerman: Graffiti On History's Walls (MUST-READ!)
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Jewish World Review
August 17, 2004
/ 30 Menachem-Av, 5764
DIVEST TERROR!
By
Frank J. Gaffney, Jr
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http://www.jewishworldreview.com |
Ever wonder what you could do to help win the war on terror? Are you sick and tired of waiting passively for the next devastating attack perhaps against people you love and your community, or those of other Americans?
What if you could make a difference, possibly even diminish our enemies' ability to conduct such attacks? Would you be willing to try?
If your answer to these questions is "yes," the Center for Security Policy has good news for you. A Center report released last week, entitled Terrorism Investments of the 50 States (available by clicking HERE ), suggests that virtually every one of us can contribute to victory in this war. It turns out that the Nation's leading public pension funds are heavily invested in some 400 publicly traded companies that do business with terrorist-sponsoring regimes providing them with lifeblood in the form of vital resources, high technology and cash. Cutting off such business could hurt the bad guys in material ways.
In fact, according to the Center's analysis, the top 100 U.S. public pensions appear to hold in portfolio stock of such companies worth roughly $200 billion. This investment helps the companies the vast majority of whom are foreign-owned and operated (although about 30 are offshore subsidiaries of U.S. enterprises) to do upwards of $73 billion worth of projects in states like Iran, Syria, Libya, Sudan and North Korea.
Could these countries' governments continue to provide safe haven, arms, training, intelligence and financial assistance to terrorist organizations, absent the wherewithal and moral cover provided by their Western business partners? Hard to say for certain. We do know, however, two things:
1) Twenty years ago, a U.S.-led campaign of shareholder activism denied South Africa's apartheid regime the West's corporate life-support upon which its economy heavily depended. When public pension funds, college and university endowments and other institutional and private investors divested companies that did business in South Africa, change occurred there resulting first in the dismantling of officially sanctioned racist policies and then in the fall of the government, itself. And,
2) Until now, the Iranian and other rogue state regimes have not had to choose between supporting terror and garnering billions from Western companies and their investors. All other things being equal, they can expect to continue to benefit from the latter, even as the proceeds help them enable murderous terror and other threats against this country.
It seems, therefore, that the time is ripe to apply to the terror-enablers the divestment campaign techniques that proved so effective in South Africa and, for that matter, with respect to bringing about change on such issues as corporate governance and accountability and companies' policies towards tobacco, environmental issues and so-called "sin" stocks.
It would be a positive start if every American investor were simply to demand that their fund managers provide information about which companies held in portfolio do business in nations that the U.S. State Department has designated as state-sponsors of terror. Unfortunately, if past experience is any guide, unless there is a concerted demand for such information, it is unlikely to be forthcoming.
If, on the other hand, American investors refuse to take "no" for an answer which is what New York firefighters and police did when they discovered their pensions held stocks of companies doing business with terrorist-sponsoring states they can get results. Once equipped with an understanding of who such companies are, the investors can take action, perhaps through shareholder resolutions (the approach favored by the champion of New York City's firemen and women and their police counterparts, Comptroller William Thompson) or via divestiture.
To be clear, the reason for taking such steps is not because the companies in question are doing anything illegal. Rather, it's because what they are doing is wrong. Senator Frank Lautenberg (Democrat of New Jersey), one of the leaders in congressional efforts to halt U.S. and Western business dealings with terrorist-sponsors, goes even further. In a recent letter to the 50 states' governors and public pension fund managers, he called such activities "unconscionable."
Whether from a moral perspective aiding those who aid our enemies is unconscionable or simply wrong, there can be no doubt that it is foolish strategically. As it happens, moreover, holding stocks in those companies who underwrite the nations that underwrite the terrorists is also a bad risk for investors. The Securities and Exchange Commission has warned several times about the material nature of this "Global Security Risk" and even created an office to monitor it.
In short, American investors have plenty of reasons to divest terror. Now that they know doing so can help win the war on terror, who will fail to take this step?
Every weekday JewishWorldReview.com publishes what many in Washington and in the media consider "must reading." Sign up for the daily JWR update. It's free. Just click here.
JWR contributor Frank J. Gaffney, Jr. heads the Center for Security Policy. Send your comments to him by clicking here.
© 2004, Frank J. Gaffney, Jr.
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