Monday, June 1, 2009

Shariah Compliant Financing: Geithner, Feds Must Defend Lawsuit

U.S. Treasury Secretary Timothy Geithner and the Federal Reserve attempted to have a lawsuit dismissed against them, which charges that U.S. ownership of American International Group (AIG) is unconstitutional because AIG is the "market leader in Shariah compliant financing." The lawsuit cites links between "charities that receive funds as a result of Shariah-compliant financing and "terrorist organizations that are hostile to the United States."

Timothy Geithner
The controversy involves Shariah-compliant financing, part of which requires charitable contributions to those who "struggle for Allah" ("jihad").
The lawsuit is filed as Kevin J. Murray v. Timothy F. Geithner and Board of Governors of the Federal Reserve System. The Thomas More Law Center is representing Mr. Murray. U.S. District Judge Lawrence P. Zatkoff pointed to a "government co-sponsored forum entitled Islamic Finance 101." Murray argues that it is unconstitutional for the government to own 77.9% of a company that "extensively practices Shariah-compliant finance." Geithner and the Feds asked the judge to dismiss the case immediately. In what a Washington Times editorial describes as a "devastating 16-page decision," Judge Zatkoff denied Geithner's motion, which said the U.S. was in "Times of Crisis" when the ownership of AIG occurred. Zatkoff said that even though we may have been in "Times of crisis," such times "do not justify departure from the Constitution." Hurrah for a judge who respects the constitution and rules for the Constitution and intends for a citizen to have a full hearing on the issue. What a refreshing change in a week that has seen Attorney General Eric Holder completely and blatantly dismiss a voter intimidation case against the New Black Panthers, with plenty of evidence, including video and witness testimony. Photo Credit: Manuel Balce Ceneta

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