What does that busted Chicago bank have to do with government support of shari'a law?

ShoreBank, Shari'a Law, and Bank Bailouts

Imagine this situation. You have a bank savings account with a balance of a hundred thousand dollars. You also hold a home mortgage of about the same amount. Your bank leverages your money fractionally and then makes Sharia compliant loans abroad for nine hundred thousand dollars, set beside your mortgage. You pay all interest on that mortgage, while your savings earns next to nothing, but as it pertains to the rest of that cool million – not so much. So what is the big deal?

Well, here is the big deal. That bank finds itself over-leveraged as a result of it’s attempted social engineering and unable to meet the demand for withdrawals. Remember that hundred grand you have saved? Well, you have decided to pay for your grandson’s college instead of seeing him saddled with student loans. In order for your bank to cover your withdrawal, it requires a taxpayer funded bailout so it doesn’t fail. Do you see it yet?

You pay interest on the front side of loans that you take on, and now you pay taxes on the backside to fund a bailout because your bank used your money to make social engineering investments that do not provide enough returns to sustain it’s own chosen activity. This so that do-gooders can “spread the wealth around”. Many avenues to accomplish this spreading have been developed. Think “green”. Environmentalism is the ultimate social engineering tool useful in every branch of government to the ends of controlling private business.

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