Good Advice from Bahrain for Geithner, Goldman Sachs, AIG, et al?……….
“Bahrain's finance minister said adherence to strict Islamic rules helped his country escape the worst of the global recession. Finance Minister Sheikh Ahmed bin Mohammed al Khalifa predicts growth of four percent for Bahrain's economy this year, saying "long-term consistent growth" is the kingdom's goal.…… Asked how the kingdom avoided some of the riskier assets that ended up crippling other economies, the minister said: "Looking at Islamic finances and industry, because they are barred by their own rules from some of the creative products, they were able to stay away from those industries…."……Bahrain is a constitutional monarchy with an elected legislative assembly….....”
Now the US Congress needs a bill that takes that into account. But will Pelosi be able to corral enough votes to pass it in the face of fierce lobbyists opposition?
Actually the assembly is only half elected (at most), the other half is appointed by the king.
Cheers
mhg
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