Tuesday, August 17, 2010

Pamela Geller: Harvard Sells Out Israel

According to Pamela Geller, Harvard University has just sold off all its Israeli investments:
Look at how far we have sunk. America's once leading institution for higher learning pimps for jihad. We knew that these institutions like Harvard, Georgetown, etc., would unashamedly dance on demand when those Saudi 20 million dollar gifts began rolling in. Middle Eastern Studies departments are hotbeds of radicalism. Jewish students are persecute, harassed and physically threatened on these campuses.

If these institutions of higher learning get federal taxpayers dollars, is this not against the law? It's one thing when jihadist frenemies violate the Arab boycott of Israel. We expect that from these players, they lie and are incapable of being honest merchants. When Saudi Arabia joined the World Trade Organization, they promised to end their participation in the Arab boycott of Israel, but they have not done so.

But this is Harvard. It is wrong, outrageous, that these tools of the stealth jihad are supported by your taxpayer dollars and private endowments (many from Jewish families). The whole moral structure is disintegrating before our very eyes. These whorehouses do not deserve one thin dime from public or Jewish coffers. This is getting very ugly. I expect Tariq Ramadan will be offered the Edward Said chair at Columbia in no short order.

This is pure antisemitism. Where is the boycott of Sudan, Iran, Congo, Lebanon, Saudi Arabia, Yemen, and the 56 Muslim countries that brutally violate the rights of women, non-Muslims, Christians, Jews, dhimmis? .......The list is endless.

Harvard University fund sells all Israel holdings
No reason for the sale was mentioned in the report to the SEC. 15 August 10 17:15, Hillel Koren

In another blow to Israeli shares, the Harvard Management Company notified the US Securities and Exchange Commission (SEC) on Friday that it had sold all its holdings in Israeli companies during the second quarter of 2010. No reason for the sale was mentioned. The Harvard Management Company manages Harvard University's endowment.

Harvard Management Company stated in its 13-F Form that it sold 483,590 shares in Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) for $30.5 million; 52,360 shares in NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) for $1.67 million; 102,940 shares in Check Point Software Technologies Ltd. (Nasdaq: CHKP) for $3.6 million; 32,400 shares in Cellcom Israel Ltd.(NYSE:CEL; TASE:CEL) for $1.1 million, and 80,000 Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) shares for $1.8 million.

Harvard Management Company's 13-F Form shows some interesting investments. Its two largest holdings, each worth $295 million, are in iShares ETFs, one on Chinese equities, and the other on emerging markets. Harvard also owns $181 million in a Brazilian ETF.

UPDATE: Trusted sources are saying that this has nothing to do with hating Israel, but is simply due to Israel's economic progress. The Harvard fund invests in emerging markets, but since Israel is a developed country, Harvard has shifted its money to less developed nations. And while I trust these respected sources, I'm not sold, because the timing is too advantageous to the Jew-haters, who will crow about it -- and Israel is so isolated, she needs all the help she can get.
More related to this topic in Andrew McCarthy's National Review Online article: "American Taxpayer: Financial Jihadist."
Moreover, given that Islam is not merely a religion but a comprehensive social system that rejects the separation of the spiritual realm from secular matters, SCF [Sharia Compliant Finance] is necessarily a political mission. Hayes and Vogel state without apology that “the surge in Islamic banking and finance is part of the much larger phenomenon of Islamic reassertion.” SCF is “an assertion of religious law in the area of commercial life, where secularism rules almost unquestioned throughout the rest of the world.” It quite intentionally challenges both “the presumption that modern commercial mores are per se more efficient or otherwise superior” and “the secular separation of commerce from consideration of religion and piety.”
That is a big problem for AIG under Uncle Sam’s management. The First Amendment’s Establishment Clause has been construed to bar government action (including government underwriting of action) that is “pervasively sectarian.” Under our jurisprudence, the state is forbidden to act if its “secular purposes” are “inextricably intertwined” with a “religious mission,” as the Supreme Court put it in Bowen v. Kendrick (1988). SCF is Islamic proselytism, and our law prohibits the “active involvement of the sovereign in religious activity” — so said the high court in Lemon v. Kurtzman (1971).

The Thomas More Law Center has filed a lawsuit against Secretary Geithner and the Treasury Department, seeking to shut down AIG’s SCF business while that business is owned by the taxpayers. In response, the Obama administration has hilariously denied that SCF is really an “Islamic religious activity.” Someone will need to break that news to Professor Hayes, the guy who wrote that “the raison d’etre for the practice of Islamic finance is undeniably religious.” When the Treasury Department co-hosted a Harvard SCF seminar less than two years ago, it chose none other than Hayes to preside.

Treasury also counters that the public money used for AIG’s SCF programs is trivial. That is specious. Geithner has committed $70 billion of our money to AIG. Of this amount, the lawsuit has demonstrated that nearly $1 billion was poured directly into AIG’s SCF businesses, and billions more are available for diversion. How much public money is actually promoting sharia finance may be impossible to say with certainty. AIG jointly operates many of its branch offices, using consolidated accounting and non-segregated bank accounts. Neither the government nor AIG has ever issued any regulations or created any firewalls to prevent American taxpayer money from underwriting SCF activities.

The Obama administration could have suspended AIG’s promotion of sharia finance in order to protect constitutional norms. But, of course, if it were interested in constitutional norms, it would neither be running private companies nor embracing Islamists and their law. So congratulations: You get to fund the jihad, while the jihad gets to target you.