Most major banks in the U.S. and Europe have established Shariah Compliant Funds, and they had almost $1 trillion under management by 2007 — and likely more today.
At Harvard, Elena Kagan “proceeded to forge the law school’s ‘Islamic Finance Project.'” It’s purpose, according to McCarthy, was “to promote Shariah compliance in the U.S. financial sector.”
Indeed, when Harvard President Larry Summers — now in the Obama administration — accepted a $20 million donation for the creation of a program of studies of Islam’s history and Shariah Law, Kagan raised no objection. The donation came from Saudi Prince Alwaleed bin Talal, a billionaire investor whose contribution of $10 million to the Twin Towers fund was refused by New York Mayor Rudy Giuliani because bin Talal had blamed the 9-11 attack on American foreign policy. Harvard Law School now has three Saudi-funded institutions devoted to the study of Shariah.
Kagan, as a Supreme Court justice, will be required to rule frequently on possible applications of Shariah law in the United States. She has already noted that she welcomes “good ideas wherever they originate” and is open to applications of foreign law to the interpretation of U.S. statutes and common law. In fact, a lawsuit seeking to ban Shariah Compliance Funds in banks that accepted TARP money (as violating the First Amendment separation of church and state) is now making its way up to the Supreme Court. Kagan cannot be trusted to rule dispassionately on this case, nor can we rely on her to exclude Shariah law from American jurisprudence.
For this reason — if for no other — senators should vote no on her confirmation.