Uncensored Israel News, Jewish news, National Israeli news

US banks nationalizationNationalization induces banks to conduct the most reckless policies, with the expectation of a worst-case scenario bailout. By greatly changing the market expectations, nationalization tremendously distorts market mechanisms and allocations. Basically, any bank would be inclined to offer its customers the highest rate and make riskier investments instead of normal market activities; nationalization encourages reckless speculation and siphons funds from productive investments. Also, nationalization encourages bank monopoly as small banks, considered non-essential, are allowed to fail, while entities “too big to fail” are assured of government support. Bank nationalization offers the government tremendous control over economy and investment allocations: essentially, the biggest investments come under state authority. As government entities are generally less efficient than privately owned ones, the nationalized banks’ investments would be even more wasteful than before. Nationalization ignores a paramount question of social justice when taxpayers pay for the speculators’ fraudulent policies. Before contemplating nationalization, the state prosecution should reclaim the profits that led to the banks’ collapse.

Partial nationalization is worse than full nationalization, as it offers the owners of failed banks the best of two worlds: government financing and retention of effective control. Often the same people who led the bank to failure – or similar people who led another bank – continue as its top managers, with eight-figure salaries paid by taxpayers. If a bank cannot refinance its bad debt from private source, it fails – and when it fails it fails; no question of retaining private ownership. Instead, taxpayers have only received 6% on Bank of America in return for a full-blown bailout.

Allowing the banks to fail would have a tremendous positive effect on the markets: after seventy years of government-sanctioned negligence, investors and depositors will have to observe due diligence and avoid speculative banks in the future. The refusal to nationalize banks will sanitize the economy: today, speculative and honestly conservative banks compete for customer deposits and investments on equal terms, and conservative banks have to embrace speculative policies in order to attract deposits with promises of high payoffs. Failures of speculative banks, with concomitant losses to depositors would reestablish bank diversification, allowing risk-averse customers to have the option of risk-averse banks.

young Hamas commandersTwo years ago, Hamas offered Israel a long-term truce. There were various offers, from fifteen years to infinity. Muslims cannot accept permanently a non-Islamic state in what they view as Muslim land.

The unwarranted Israeli blockade of Gaza discredited the older generation of Hamas leaders who sought an understanding with the Jewish state. The younger generation of militants won elections in the Hamas Council months ago. IDF operations in Gaza made any collaboration with Israel politically unacceptable.

Hamas rejected Israel’s lame offer of an eighteen-month truce and offered only a twelve-month truce if Israel opened border crossings with Gaza. Hamas reiterated that a longer truce would contradict the group’s purpose of legitimate resistance against the occupation of Palestinian land, including Tel Aviv and Haifa.

Fatah has similarly radicalized its position: in the wake of Obama’s call to Abbas, the PLO’s Executive Council rejected any peace treaty with Israel other than her withdrawal to the 1949 armistice border, which would mean evicting 600,000 Jews from the homes they have lived in for three generations.

Jews throw stones at Arabs

Israeli police arrested nine Jews, aged fifteen and older, for attacking Arabs, throwing stones at them, and allegedly burning their cars in Nazareth.

Throughout the country, Arabs daily commit similar acts against Jews, but the police do not act in any case short of murder.

The government’s refusal to expel Israeli Arabs has created an unbearable situation in the mixed Jewish-Arab town of Nazareth, where Arabs continually attack Jews. The Jewish kids who stood up against the Arab mob must be honored as heroes.

Muslim kidnappersFor the first time in Israeli history, IDF soldiers received an order during the Gaza war to avoid being taken POW at any cost. Troops were authorized to shoot and blow up kidnappers’ cars along with Israeli prisoners. The soldiers being kidnapped were instructed to blow themselves up with hand grenades.

This policy marks a radical departure from the traditional IDF attitude, which stresses that a soldier must strive to remain alive at any cost and expect to be ransomed. The instruction to avoid kidnapping was issued two decades ago, but was never taken to the extent of ordering suicide.

Unlike the government, IDF’s brass do not see the release of 1,300 terrorists in exchange for Shalit as a bargain.

Gaza kidsJohn Ging, the top UNRWA rep in Gaza, voiced this sensible opinion: poverty, border closures, and the recent Gaza operation have greatly radicalized Gaza’s youth, who make up two-thirds of its population. To expect them to live in peace with Israel is unrealistic.

What the UNRWA fellow does not understand is that a similar hatred has brewed on the other side of the border. Children in Sderot grew up without seeing peaceful life: for eight years, Palestinians shelled them and attacked with rockets.

Female teacher have sex with studentThe seventeen-year-old male from a religious school in Sharon is deeply traumatized, his attorney claims.

Arab officials in IsraelOlmert’s government has approved sanctions against those departments that fail to maintain a 10 percent Arab workforce. The Arabs will also receive a $600 monthly allowance to rent apartments close to their workplace. Despite the economic crisis, the government has created 800 additional sinecures for Israeli Arabs.

Israeli Arabs are unqualified and vengeful toward Jews, which makes them a real pain to deal with in any government office.

Jewish religious law absolutely forbids appointing Arabs over Jews in the Land of Israel. Arabs cannot be appointed in any government offices whatsoever: Maimonides stressed that they cannot be put in charge even of water wells, the lowest office imaginable.

Kadima and Avodah leaders fish for Arab votes.