Manhigut Yehudit Blog
31 December 09
In the Dec. 30th, 2009 Jerusalem Post, the following headline appeared, "Belgian bank won't lend to settlements". The Belgian bank, Dexia, has a special branch in Israel that works with municipalities. Dexia has recently decided to refuse loan requests coming into the bank from local councils in Judea and Samaria. They are arguing that the loans are too risky because if Israel agrees to abandon the Jewish heartland, they will not be able to collect on their loans. Hmmm. Does anyone else smell something not so nice here? Click here for the full story. I decided to do a wee bit of research on this and it took only one google search to find out who is behind this actuarial attack on the Jewish people -- take a guess -- you got it! Omar Barghouti: founder of the Palestinian Campaign for the Academic and Cultural Boycott of Israel (PACBI).
Now this fellow, Omar, calls himself a "Palestinian". He was actually born in Qatar and grew up in Egypt but nevermind ... he says he is a "Palestinian". From his perspective "Palestinian" is probably a "state of mind" and he really feels it in his bones. After all he is a graduate of Columbia University which Caroline Glick (also a grad) calls "Bir Zeit University on the Hudson". Omar is one of the most successful activists working to demonize and delegitimize Israel - so it is a good idea for us to get to know the enemy a bit. He is a key force behind the Belgian bank loan refusal policy.
In addition to Mr. Barghouti's efforts to generate economic attacks on Israel - more about this shortly - one of his most clever tactics was to enter Tel Aviv University as a student hoping that they would expel him. Well no such luck! Despite the seeming contradiction his study there presents to his organization's stated purpose "Academic Boycott..etc" ; and contrary to the hopes of tens of thousands who signed a petition to have him expelled (65,000 people) - he will remain. Tel Aviv University has no plans to expel him. Of course he is disappointed by this. As he explained to his fellow activists,
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There are no such thing as "economic rights". A bank has the right to lend money to whomever it pleases based on whatever criteria it decides to use. If a given loan is economically sound and a bank decides to pass it up because of political reasons or racism, it is the bank that will suffer.
ReplyDeleteThere are plenty of banks in the world which can loan money. The best way to teach banks to lend rationally is to let them suffer the consequences of irrational lending.