THE FOLLOWING STORY CAME TO US AS A PRESS RELEASE FROM THE CENTER FOR SECURITY POLICY.

ROBERT



( Washington , D.C. ): One of the most groundbreaking bills authored to date in the Divest Terror movement has quietly made its way through the Louisiana state legislature and was signed into law this week.



The bill, written by State Representative Pete Schneider and designated HB 864, passed resoundingly in both chambers of the legislature – in the House of Representatives by a floor vote of 100-0, and the Senate by a tally of 35-0.



There are two reasons why HB 864 is of national significance. First, it will result in the establishment of a terror-free investment index for international investments. Once this index is established it will become available to public, institutional and perhaps even individual investors across America . This removes the biggest obstacle to terror-free investing in the 3 years of Divest Terror's existence.



Second, and in a sharp contrast to other states, the Louisiana pension systems took an active role drafting and supporting HB 864. The most noteworthy help came from the Louisiana Sheriffs Pension and Relief Fund and the Louisiana Firefighters Pension Fund. Both objected to their retirement funds being invested in terror-sponsoring states, and cast their lot with the Divest Terror program.



A Primer on Index Investing



Index investing is one of the most popular forms of investing in the US among individual and institutional investors. Literally tens of millions of Americans invest in different vehicles that are designed to track various indexes, in the form of Index Mutual Funds and Exchange Traded Funds (ETFs).



The most widely watched index, S&P 500, covers US companies and thus is not directly relevant to terror-free investing, since US companies are forbidden from doing business directly in Iran , Syria , Sudan and North Korea .



Foreign companies are not subject to the jurisdiction of US restrictions on business with terror nations. For that reason, the relevant index for terror-free investing is the EAFE Index, an index of European, Australian and Far East Companies that is popular for international index funds and ETFs.



The EAFE Index may be a convenient way for individual, institutional and public investors to invest internationally, but it has also proven an obstacle to terror-free investing and divestment from terrorist regimes because there is no way to simply divest a portion of an index – it’s all or nothing. Until an entire index goes terror-free, any attempts to wield them as Divest Terror tools will be only ineffective half-measures.



Progress, At Last



For some time now, Wall Street firms have averred that a terror-free international index can be created, but up to now, no entity has specifically requested that one be created.



HB 864 in Louisiana changes that. It will result in the creation of a terror-free index available to public, institutional, and individual investors across America . The bill mandates that fund managers with international experience create “an international terror- free index fund which identifies and excludes from the fund companies having facilities or employees or both in a prohibited nation.” The “prohibited nations” are Iran , Sudan , Syria and North Korea , each from the US State Department's official list of terrorist sponsoring nations. The creation of this index must take place within 180 days of the bill’s passage, and it must replace the excised stock with those of equal value.



The Center for Security Policy cannot overemphasize the importance of this precedent and the attractiveness of this legislation as a model. Whereas some states have announced that they intend to divest from companies doing significant business in Iran's energy sector, when a pension system shifts from its current international index to a terror-free index, many more companies that do business in Iran - and Syria, Sudan and North Korea – will get left out, and we will be that much closer to victory in the War for the Free World.

New York, Jul 9 2007 5:00PM
The Security Council today condemned last week’s suicide car
bombing near a popular tourist site in Yemen that claimed the
lives of nine people, stressing the need to bring the sponsors as
well as the perpetrators of all terrorist attacks to justice.

In a statement read out by Ambassador Wang Guangya of China, which
holds the rotating presidency this month, Council members offered
its deepest sympathies and condolences to the victims and their
families, and to the Governments of Spain and Yemen.

Seven Spanish tourists and two Yemeni nationals were killed in
last Monday’s bombing, which took place near an archaeological
site in the province of Marib. Media reports say the explosion
occurred as the visitors were finishing a tour of the site, which
contains a temple built 3,000 years ago at the time of the
Queen of Sheba.

Today’s presidential statement urged all States to play their
part to ensure that the perpetrators, the organizers, the
financiers and the sponsors of the attack are brought to justice.

“The Security Council reaffirms that terrorism in all its
forms and manifestations constitutes one of the most serious threats
to international peace and security and that any acts of
terrorism are criminal and unjustifiable, regardless of their
motivation, wherever, whenever and by whomsoever committed,” the
statement added.

Last week Secretary-General Ban Ki-moon also voiced outrage at
the deadly bombing and declared that no cause can justify such
acts of indiscriminate violence against civilians.
2007-07-09 00:00:00.000

(Washington)July 9, 2007

FBI Director Robert S. Mueller, III, met today with representatives of several privacy and civil liberties groups in a continuation of discussions surrounding the Bureau’s use of National Security Letters.

The leaders and representatives of advocacy groups had a chance to discuss with Director Mueller and the FBI’s General Counsel, Valerie Caproni, the Bureau’s continuing initiatives to strengthen internal controls designed to protect privacy and civil liberties.

Today’s meeting is part of a continuing dialogue aimed at reaching out to subject matter experts, including critics, who may give added value to the development of internal processes. The FBI’s goal is to maintain compliance with rules and law while effectively carrying out the FBI’s mission to deter and prevent terrorism. At the initial meeting in March, Bureau officials discussed the findings released by the Department of Justice Inspector General regarding the FBI’s use of National Security Letters and the actions taken by the FBI based on the Inspector General’s recommendations. At a follow up meeting, privacy groups were provided the draft proposal for improved internal guidelines. The advocacy groups provided valuable suggestions, many of which were incorporated into the final product.

“These are complex issues, and it’s important that we have an open and ongoing dialogue,” said Director Mueller. “We have worked hard to develop more transparency around our development of policy where privacy and civil liberties are concerned. We may not agree with the advocacy groups on every point, but the dialogue is valuable and their advice is important to us.”

At its regular quarterly meeting the Republican National Committee is scheduled to vote on a resolution calling on our Congress to take concrete steps to secure our border. The resolution was submited by Randall Pullen the chairman of the Arizona Republican Party. The resolution has also gained the support of leaders such as Denise McNamara the Republican National Committeewoman from Texas. The RNC will be meeting August 1-4, in Minneapolis. If you care at all about securing our borders I urge you to contact your state's national committee members, and express your support for this resolution.

I have posted the most recent text I have below.

Robert

RESOLUTION URGING IMMEDIATE CONGRESSIONAL ACTION

TO SECURE OUR BORDERS



WHEREAS, it is reliably estimated that between twelve and twenty million citizens of other countries have entered and currently remain in the United States illegally; and



WHEREAS, the ability of millions of unidentified persons to illegally enter and remain in the United States presents a grave risk to the sovereignty of the United States and security of the American people; and



WHEREAS, Congress has already authorized the construction of 854 miles of border fencing and appropriated one billion dollars to construct it and it is reliably reported that less than 20 miles of such fencing have been completed; now therefore be it



RESOLVED that the Members of the Republican National Committee urge that the Congress of the United States , as a matter of the highest priority, take all necessary steps to provide appropriate authority and means to accomplish the following:



(1) Complete the construction of the border fencing that has been authorized as expeditiously as is reasonably possible; and



(2) Effectively secure the borders of the United States to illegal entry by every appropriate additional means, fully equipping and empowering the Border Patrol and using our National Guard and the U.S. military if necessary.



Submitted by





______________________

Randall L. Pullen

Chairman, Arizona Republican Party

I'm sorry it has been so long since I updated this blog. It was completely unintentional I assure you. However I couldn't think of a more appropriate day to relaunch our blog than the anniversary of our nation's founding.

Be sure to check back as I post information on homeland security, emergency management and related topics from my contacts around the world. I will also be offering my own opinions and analysis when i feel I have something to add.

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Thanks for your support,
Robert A. Crutchfield
Admiral, Texas Navy (honorary)
Editor
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