Tags: Emerging Threats | Money | Religion

Seattle Considers Shariah-Compliant Loans

Thursday, 30 July 2015 10:06 AM Current | Bio | Archive

Conservatives may have thought the left’s meddling in the housing market could not get any worse, but Seattle has proven us wrong.

The way the left’s “affordable housing” shuffle works is simple. Meddling city councils create zoning and “green space” ordinances that collectively work to severely limit the construction of new housing within the city and often discourages redevelopment of existing homes.

Supply and demand is one of the few laws big government Democrats refuse to acknowledge, so naturally as the available supply of housing shrinks, demand and prices go up. After creating the shortage and price increases, city councils then bewail the lack of “affordable housing” and begin to meddle even more.

Usually in the form of requiring developers to include low–income housing as part of their project to get approval from the powers that be. In effect the city charges them — in the form of reduced profit – to try and fix a problem the city caused.

Another manifestation is using tax dollars to build low–income housing that the market would be happy to provide if the law allowed.

So what new wrinkle has Seattle devised?

Uber PC Mayor Ed Murray has decided to have the city embrace Islamic finance commandments that are part of Islamic law — Shariah. This is breathtaking.

There is an indestructible wall between Christianity and city government enforced by the ACLU — you can look in vain for 10 Commandments monuments or crosses on city property — but somehow catering to Islamic finance doesn’t involve religion.

According to a story in the Seattle Business Journal, Murray’s “28–member committee recommended the city convene lenders and community leaders to explore options for increasing access to Sharia-compliant loan products.”

Shariah has a lot of interesting rules including keeping your women entombed in Hefty bags, advising on marrying up to four wives, administering honor killings, and advising how large a stick may be used to beat a disobedient wife.

The housing committee has not expressed an opinion on those ordinances. What concerns them is the difficulty Shariah followers have buying homes “because Sharia law prohibits payment of interest on loans."

That would certainly put a damper on discussions with most loan officers, but there is an alternative. The private sector is now offering Shariah–compliant financing without Mayor Murray’s meddling and the Business Journal found it has assets of more than $1.6 trillion worldwide.

One interviewee commented that many Muslims could qualify for home loans, but don’t apply “simply because they don’t want to pay interest.” So Mayor Ed is eager to help.

Which makes me wonder if he would be equally eager to have the city be of assistance to a Christian baker who for religious reasons didn’t want to bake a cake for a homosexual wedding? If the baker were sued would he make the public defender’s office available for the Christian baker’s defense?

You know the answer to that as well as I do. There are a lot of descriptive terms you could apply to this proposed Shariah–compliant Seattle housing policy, but I would suggest starting with hypocritical.

Michael Reagan is the son of President Ronald Reagan. He is president of The Reagan Legacy Foundation and chairman of the League of American Voters. Mike is an in-demand speaker with Premiere. Read more reports from Michael Reagan — Go Here Now.

© Mike Reagan

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There is an indestructible wall between Christianity and city government enforced by the ACLU, but somehow catering to Islamic finance doesn’t involve religion.
Emerging Threats, Money, Religion
Thursday, 30 July 2015 10:06 AM
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