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June 17, 2013

Rabbi Simcha Weinstein: Black to the Future: American Apparel Gets Biblical

Patrik Jonsson: Minnesota Nazi: How did Nazi hunters miss Michael Karkoc?

Kate Irby, Ali Watkins, Trevor Graff and Kevin Thibodeaux: All the ways you're being watched
Don Lee: G-8 meeting will test NSA leaks' effect on U.S. influence

Patrik Jonsson: Fort Hood shooting: Judge nixes Nidal Hasan defense strategy. What now?

Stacey Burling: Why the stigma for migraine sufferers?

The Kosher Gourmet by Lisa Abraham: Does it work? 5 new kitchen gadgets put to the test

June 14, 2013

Rabbi Abraham J. Twerski: A spiritual budget: Religious economics and being a ruler

John P. Martin: Hitler insider's missing diary found

Matt Pearce: NSA surveillance disclosure could affect court cases
Peter Tinti: US bounties changes strategy on (Wild, Wild) West African jihadis

Daniel Pendrick, M.D.: Memory loss? Old age may be the least of it

Lauren F. Friedman: But it's all natural! Should we have an instinctive preference for herbal remedies?

Jewz in the Newz by Nate Bloom : Streisand and Alicia Keys in Israel; "Girls" Stuff; Mel Brooks, Another TV special; Superman (who is Jewish) returns --- Israeli plays his mom

The Kosher Gourmet by Sharon K. Ghag : Bored with salad? Bling it up a bit (4 effortless recipes that will result in a 'WOW!')

June 12, 2013

Stephanie Hanes: Little girls or little women? The Disney princess effect

Fred Weir: In tweak to US, Russia would 'consider' asylum for Snowden

Sharon Palmer, R.D.: What's so special about Omega-3 supplements?
Morgan Housel: What newspapers were saying when you should have been buying

Pete Spotts: How cockroaches evolved so as to bypass 'roach motels'

The Kosher Gourmet by Anjali Prasertong: Deep-dish cookie: Warm, gooey and a little over the top

June 10, 2013

Joseph A. Slobodzian: Faith healing and third degree murder: Thorny legal case
Lindsay Wise: Few options for online users to avoid spying, experts say

Sharon Palmer, R.D.: There are plenty of nutritional food bargains out there
Harvard Health Letters: Can bariatric surgery control diabetes?

Zach Murdock: Superglue helps doctors save infant's life

The Kosher Gourmet by Celebrated chef Mario Batali : As good as grilling gets: Rib eye with dry mushroom spice rub

June 7, 2013

Rabbi David Aaron: Beating jealousy

Caroline B. Glick: Wounded . . . and dangerous

Clifford D. May: Al Qaeda vs. Hezbollah
Harvard Health Letters: Fighting back against allergy season

Kimberly Lankford: Grandparents who use FSA to cover grandkid's braces and other must-know info

Jewz in the Newz by Nate Bloom:J ewish Tony Nominees/Tony Awards; Jewish Teen Actor In Sci-Fi Flick; Jewish singer in "Voice" finals

The Kosher Gourmet by Anjali Prasertong: A tart filling so good it might not make it to the crust

June 5, 2013

John Rosemond: Mom, Dad: Talk More and listen less

Kristen Chick: Egypt court sentences 43 pro-democracy workers to prison

Sharon Palmer, R.D.: Mushrooms Have Medicinal As Well As Culinary Value
Morgan Housel: Why you never learn from your investment mistakes

Don Lee: In China, kindergarten rivalry takes deadly turn

The Kosher Gourmet by Sara Kate Gillingham-Ryan: 30-Minute Coq au Vin isn't a dream

June 3, 2013

Molly Hennessy-Fiske: Military judge to consider letting Fort Hood shooting defendant represent himself

Richard A. Serrano: Pvt. Bradley Manning's WikiLeaks trial also a test for government

Mark Trumbull: Have degree, driving cab: Nearly half of college grads are overqualified
Kim Lankford: What to do when long-term care insurance premiums rise

Deborah Netburn: Study: Adults' mouth bacteria may help babies

Jewz in the Newz by Nate Bloom: Jewish Contestant on 'The Voice'; Will Smith's 'Jewish movie family'; Bravo Gives Long Island Jews the Jersey Shore Treatment; Magicians and More

The Kosher Gourmet by Bill Ward: How to be as refined as the wines at a wine tasting

May 29, 2013

Andrew Connelly and Helene Bienvenu: The Little Synagogue that Refused to Die

Dennis Prager: The 'Muslims-Killed-by-the-West' Lie

David Clark Scott: Open war on teachers?
Morgan Housel: If you know only five things about investing, make it these

Sara Reardon: AGenome detectives change the donation game

Deborah Netburn: A one-way ticket to Mars? 78,000-plus and counting apply by video

The Kosher Gourmet by Bev Bennett: CHEDDAR AND CHERRY MUFFINS --- your mouth is already watering

May 24, 2013

Rabbi Tzvi Hersh Weinreb: When I didn't so 'humbly disagree'

Caroline B. Glick: Thank you, Hafez al-Assad

Diana West: From the Brooklyn Bridge to London
Morgan Housel: Why spotting bubbles is so much harder than you think

Environmental Nutrition editors: NuVal labeling to the rescue?

Jewz in the Newz by Nate Bloom : Memorial Day: Jews Serving and KIA in War on Terror; Liberace Bio-Pic; Jew Wins "Survivor"; Shalom, Dr. Brothers; More

The Kosher Gourmet by Emma Christensen: HIDE THESE FROZEN TREATS FROM THE KIDDIES!: Sangria pops; Irish cream pudding pops; mango Lassi pops

May 22, 2013

John Thorne: They launched the 'Arab Spring' but now yearn for the good old days of a strongman

John Rosemond: 'Disciplinary math' adds up to parental successl

Warren Richey: Are prayers before public meetings OK? Supreme Court to decide
Rick Montgomery: Use of ADHD drugs as study aid raises concern on campuses

Brierley Wright, M.S., R.D.: 6 convincing reasons you should keep carbs in your diet

Eoin O'Carroll: Scientists examine nothing, find something

The Kosher Gourmet by Carole Kotkin: This soup is made from one of the great pleasures of spring: A wonderful pairing of rosy color and earthy tang

May 20, 2013

Richard A. Serrano: Is Meir Kahane's assassin now a changed man?

Hannan Adely: Town raises Palestinian flag at City Hall

Melissa Healy: Genetic copies of living people from embryos no longer science fiction
Morgan Housel: When smart investors do stupid things

Sharon Saloman, M.S., R.D.: Hunger games: Eat more, weigh less, without starving

Jewz in the Newz by Nate Bloom : Jews Inducted into Rock Hall of Fame; Anton Yelchin co-stars in New "Trek" film; Kutcher (but not Kunis) visits Israel; Jewish TV Star Praises Jewish Rap Star

The Kosher Gourmet by Cathy Pollak: WARNING: This WALNUT CAKE WITH PRALINE FROSTING, perfect for afternoon coffee, is addicting


Jewish World Review June 24, 2008 / 21 Sivan 5768

Guilty knowledge

By Frank J. Gaffney, Jr.


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http://www.JewishWorldReview.com | In recent months, a growing number of U.S. commercial banks, hedge funds and other financial institutions have begun promoting products described as "Shariah-Compliant." By so doing, they hope to attract some of the immense petro-wealth now accumulating in the Islamic Middle East. Neither the management nor shareholders of the firms engaged in such Shariah-Compliant Finance (SCF) appear to admit, however, the civil and criminal exposure to which they are exposing themselves — and the serious dangers this practice entails for their country.


The problem lies with "Shariah." This is the term used by the most powerful — and virulent — Islamic authorities to describe their theo-political-military doctrine. Its stated purpose is to replace sovereign, secular nations like the United States with a transnational Islamic order governed by a ruling authority, the Sunni's Caliph or his Shiite counterpart, with Shariah as its foundational law or constitution. Under Shariah Law, violent means are ordered if necessary to effect the world's submission to Islam.


Shariah is what the Taliban brutally practiced in Afghanistan. It is the law of the land in Iran, Sudan and Saudi Arabia — three of the most repressive regimes in the world, all of which have extensive ties to jihadist terrorism. It is characterized by such barbaric practices as beheadings of apostates, subjugation of Jews and Christians, stonings for adulterers, flagellation for women deemed "unchaste," amputations for petty crimes, female genital mutilation and martyrdom in the service of jihad.


Why on earth would Western bankers want to be promoting practices that comply with, and therefore institutionalize and legitimate, this repugnant and repressive code?


The answer, of course, is that they perceive in SCF a new way to make money. The sub-prime fiasco demonstrates that it is perfectly possible for American financiers to turn a blind eye to practices that are unwise, even reckless and criminal, when there are profits and bonuses to be garnered. Unfortunately, Shariah-Compliant Finance has the potential to create a national sub-prime meltdown on steroids.


The reason? As a legal memorandum prepared for the Center for Security Policy by experienced securities litigator David Yerushalmi (http://www.stopshariahnow.citymax.com/f/Research_Memo_re_Legal_Risks_of _SCF_(3).pdf) makes clear, Shariah-Compliant Finance entails considerable civil and criminal exposure for firms that engage in it.


For starters, the authoritative Shariah Law is inherently seditious, as it explicitly calls for the violent overthrow of governments like that of the United States and the replacement of democratic, constitutional government with its theocratic code.


The Shariah advisors — Islamist scholars who adhere to the most fundamentalist traditions and interpretations of their faith — enable Shariah-Compliant Finance. They do so in ways that expose their employers on Wall Street to such liabilities as racketeering, anti-trust violations and securities and consumer fraud. Incredible as it may seem, leading Shariah authorities like Mufti Usmani, employed by Dow Jones and HSBC SCF funds, have called for violent jihad against the West. Usmani has even published a book in English explaining how and why this is obligatory for all Shariah-faithful Muslims.


Worse yet, through practices known as zakat (the tithing to charities required of observant Muslims) and "purification" of funds (the donation to approved charities of proceeds from investments that are "tainted" by interest, speculation, pork or other non-Shariah-compliant activities), SCF's Shariah advisors and their financial industry employers may be involved in material support for terrorism.


It is unlikely that American investors in the post-9/11 environment would want to support such practices. One would hope that financial institutions would not want to assume the exposure associated with them, either. Yet, because the material facts about Shariah, its authorities and their charities are not being disclosed to investors, both are at serious risk. So is America to the extent that Shariah Law is being legitimated, its adherents are being empowered and its so-called "charities" are being enriched (four out of eight Shariah-approved uses for zakat can translate into support of terrorism — and have).


For these reasons, the Center for Security Policy recently sent the CEOs of dozens of the nation's leading commercial banks, hedge funds and other financial institutions copies of Mr. Yerushalmi's analysis. In an accompanying letter, I warned that they "may be exposed to personal civil and criminal liability and [their] firm will be exposed to reputational risk and/or price risk" should they be involved in Shariah-Compliant Finance. (See www.SecureFreedom.org for more on this correspondence.)


From now on, the leading Wall Street firms will not be able to profess ignorance of such risks. They will have a responsibility to disclose them to investors. Call it guilty knowledge.


Unfortunately, it nonetheless may take action by the Securities and Exchange Commission, the Department of the Treasury, the Justice Department and/or Capitol Hill to get Wall Street's attention on SCF. The $800 billion invested in such products to date is expected to grow by 15-25% in the future, powered in part by the dictators' slush funds known as "Sovereign Wealth" that are recycling petrodollars into various, strategically ominous investments in the United States.


Alternatively, bringing to light the true nature and dangers associated with Shariah-Compliant Finance may fall to civil litigants like those who have brought suit in federal court in connection with Saudi and other interests' (many of them Shariah-compliant) ties to the 9/11 terrorist attacks. The cost to Wall Street of such litigation could be in the billions.


Either way, the financial sector will have guilty knowledge about Shariah-Compliant Finance and be vulnerable to problems that will make sub-prime look like a day at the beach. Those involved are on notice.


Every weekday JewishWorldReview.com publishes what many in the media and Washington 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. Comments by clicking here.

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