Michael Bloomberg has had a busy summer.
The NYC Mayor has been waging a pitched battle against the 71% of New Yorkers who want the Cordoba House mosque moved from its present site. That event has gotten plenty of media coverage.
But that fight may be nothing more than a part of a second, larger contest between Thomson Reuters and Bloomberg LP — a private company of which Mayor Bloomberg controls 85% — over control of financial news reporting in the world of Islamic finance.
The stakes in the Bloomberg-Reuters Middle East Islamic Finance war: The nearly 300 Islamic banks and financial institutions worldwide whose assets are predicted to grow to $1 trillion by 2013.
“We have an aspiration at Bloomberg to become the most influential news organisation in the world.”
Peter T. Grauer, Chairman and CEO of Bloomberg, July 31, 2010
“…. the growth of Islamic finance has been phenomenal in spite of the current difficulties that seem to be indicative of the situation visa vi the international economic community, the financial world seems to be turning its attention to Islamic finance.”
Former Deputy Prime Minister of Malaysia Tun Musa Hitam, Chairman of the World Islamic Economic Forum Foundation, CNBC interview, August 18, 2010
Two companies in the financial world turned their attention to Islamic finance and its phenomenal growth, Thomson Reuters (Reuters) and Bloomberg L.P. Simply put: if it ends up as Bloomberg’s market, Bloomberg’s financial news terminals — which are Bloomberg LP’s core profit center — will be the standard; if Reuters’ market, Reuters’ financial news portals will be used instead.
Earlier we reported that we were cynical about Mayor Bloomberg’s motives for passionately defending the building of a controversial mosque near Ground Zero. Of particular concern: Bloomberg’s financial interests in the Middle East with Bloomberg L.P. establishing a financial information hub in Dubai at the Dubai International Finance Centre (DIFC). The five-year Bloomberg plan: to ‘double revenues by 2014″ in the Middle East.
We’ve since learned we’d only skimmed the surface.
A timeline of events over the last 26 months details the series of Bloomberg and Thomson Reuters moves and counter-moves that have been made in an attempt to gain the upper hand in the reporting of Islamic finance. The pace has only accelerated since the 2008 crash. With slow or no growth in Europe, the Americas and Japan, the Islamic financial world is being seen as the best bet for future profits by both combatants.
This little matter may help explain the Mayor’s recent statement about the necessity of building the Park51 mosque to “send a signal around the world.” Was the Mayor thinking of sending a signal to the entire world–or just a particular part of it?
Even more intriguing, Mayor Bloomberg’s reply to the question of whether the developer and the funds for the mosque should be investigated. On July 14, the New York Post reported:
Bloomberg was asked Monday about GOP gubernatorial candidate Rick Lazio’s demands last week that Democratic rival Andrew Cuomo investigate the mosque being developed near the Sept. 11 attack site.
The mayor has defended the mosque plans before. On Monday, he said investigating or vetting religious organizations goes against what the nation stands for.
The mayor may think it is un-American to investigate the developers, but the media in New York City–especially the Post–has been admirable in picking up the slack. This week, the Post reported: “Sharif El-Gamal, the leading organizer behind the mosque and community center near Ground Zero, owes $224,270.77 in back property tax on the site, city records show.”
Court records from several states other than New York indicate that Sharif El-Gamal has had more than his share of run-ins with the law over other legal issues.
Court records from Florida to New York state reveal that Sharif and his younger brother, Samir “Sammy” El-Gamal, 35, a partner with him in his company SoHo Properties, both have a history replete with intersections with tax and debt issues, dating back to at least 1994 and continuing into this year. In one case, a NYPD officer arrested Sharif in 1994 for “promoting prostitution.” (He pleaded guilty to a misdemeanor of disorderly conduct.) In another instance, Sharif told a court he didn’t hit a tenant from whom his brother and he were trying to collect back rent. He said to police, the tenant’s “face could have run into my hand.”
As the debate has gotten more heated, Hizzoner’s rhetoric has gotten more bizarre — and hard to explain. Consider the following video which provides some background against which to judge a lot of Bloomberg’s otherwise-inexplicable statements.
This video may also help explain that while the Mayor chooses to thumb his nose at a majority of his constituents over the mosque in New York City — the consequences of which will affect another, different battle half a world away.
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37 Comments
Gosh, Bloomberg has a hidden agenda having to do with his not having, "made enough money" yet? I never would have guessed.
/sarc
Well well well … Who knew the mayor had these investments, which might benefit him by showing how he helped build the victory mosque.
Cool new perspective.
"I Do think,,,that uhh…I do think that at some point youve made enough money…"
why isnt Bloomberg listening to the president?
When progressives think republican, they picture Bloomberg (an opportunist turncoat) whom thinks selfishly while declaring how magnanimously they are. C'mon, image is everything, "you don't judge a book by it's cover, unless you cover just another", Johnny Rotten. The Tea Party movement can sing the rest, "our acceptance is a sign of stupid fools being blind".
This may be the only time I hope Reuters win! He sold his soul to make a deal like all progressives!
Looks like thirty pieces of silver is the going price for a mayor………..
Malachi,
I agree. Republicans have NO HOOK TO HANG THEIR HAT ON. They are as much a part of the problem as dems.
That said…..the more "transparency" we can get regarding ALL backers of this mosque, the better. No such thing as "too much information." THE CORDOBA PROJECT IS ANYTHING BUT SIMPLE.
FOLLOW THE MONEY!
And before all the trolls pounce..I INCLUDE RUPERT MURDOCH! FOX NEWS NOT WITHSTANDING, MURDOCH IS IN THIS PROJECT UP TO HIS LYIN LIPS.
Sorry, Dave, I accidently dinged you. I'll find you later and make it up.
BTW, Bloomberg is not only a traitor to his country, but a traitor to his fellow Jews like that vile creature, Soros…..
Mayor Bloomberg… money should not matter here….time to stand against Sharia-type repression and servitude:
We're fighting this sick, radical Wahhabi idiology in Afghanistan right now, losing blood and treasure every day to the brutal Taliban…
If we allow this obscenity (mosque) to see fruition, a conquest symbol of these maniacs, we may as well surrender now and be done with it…
we can all get in line for the Islamic National pastime of be-headings and stonings…..
The only ones ready to surrender are the progressives! Why they are is interesting though seeing that they'll be the ones be-headed first!
I'm so pissed at these Progressives, I could saw off their worthless heads, myself……
That would be to fast! Take away their power, push them to the curb and make them watch as America becomes the shining light again!
Michael Bloomburg.
The flower of his family.
A blooming idiot.
This Cordoba victory mosque must be stopped!!!
Until we as a nation, stop thinking of ISLAM as a religion, and calling it what it is,
a death CULT, incompatible with our Constitution, we are defacto, signing our own "death warrant"…
I wonder if Mayor Bloomburg still thinks a white, middle-aged male, angry about Obamacare, was responsible for trying to turn Times Square into a scene from Hellraiser?
I remember the 1990s narrative about angry white / angry christian / angry heterosexual men, and the articles and discussions throughout the MSM about whether white men were genetically predisposed to rape, the vast right-wing conspiracy, Ruby Ridge, Tim McVeigh, David Koresh…
I'm not sure if this will be new news for you or old, but look and see what our Parks Service has already approved for the memorial at Shenksville. Please check out the link. http://creepingsharia.wordpress.com/2010/08/29/fl...
Maj.Gen. Jerry Curry : Obama's Eligibility Issue Moving Toward Critical Mass http://www.youtube.com/watch?v=1TmTqvIhLig
There must be 'something else' in this for Bloomberg, other than 'the warm fuzzy feeling' he gets for 'supporting 'the Islamists' so-called 'right to religious freedom'. Always: Follow the Money!
Thanks for that….
Probably call it the "Let's Roll" Mosque and Islamic Center…
They just want to be free to practice their "religion of peace"…
Islam equal Voodoo….
Bloomberg's middle-eastern franchise is the ONLY branch turning a profit; everything else is in the red
Wow, another corrupt politician using his office to increase his wealth. Unlike Inspector Renault (Casa Blanca) I am not shocked!
What a surprise …not. It is getting harder to follow the $$$ …especially since the SEC is now exempt from FOIA (Freedom of Information Act), thanks to that wonderful Finance Reform Bill. Then you have the corrupt non-profits, like the Joyce Foundation, Tides Foundation and good 'ol George Soros, who have been able to basically launder money (although they don't call it this) …this is such BS. ALL of these guys and groups need to be audited.
Not surprised. Now we are learning where the elites are hiding their wealth. At no time will you see the justice department go after the money laundering that is occurring in the Middle East as they did in Switzerland. Just a reminder to those of you who swear by Fox News, Murdoch is 20% owned by a Saudi prince and has moved his headquarters to Dubai with the goal of becoming the media giant of the world and competing against Bloomberg.
Make no mistakes the elites of this country have abandoned this country and have moved to the despotic countries of the East and Middle East. We're going to be left with the mess. Obama will soon join the Bushes, the Clintons and the remaining elites who have gone to the dark side to build wealth the only way they know how and that's to seize it under the guise of cultural and social justice.
There's more to this than just Bloomberg. Now only to connect the dots.
"The Cordoba initiative’s website cited “Christian support for the Cordoba House” from a Christian publication, Sojourners, which is owned by evangelical Christian writer and political activist Jim Wallis, also a sitting member of the CFR’s Religious Advisory Committee. Wow! ( Imam is also on this committee)
At some point, the American Society for Muslim Advancement (asma.org) was shown on the screen along with: Our Supporters: U.S. Foundations. After wincing, I froze the frame and downloaded the list, which included the Carnegie Corporations of New York, Rockefeller Brothers, Rockefeller Philanthropy, Rockefeller Brothers Fund, the Henry Luce Foundation, and Hunt Alternatives, to mention a few of the globalist pack."
http://vigilantcitizen.com/?p=4797
The simple answer is "yes".
The more money he makes, the taller he feels……
It's an old but true saying, "Follow the money".
Oh the irony, does the bloomin' freak realize he IS a middle-aged white male, pissed at his subjects who rise up against his sorry ass?
I hope to hell he goes down in flames – He is a disgusting human being and an insult to Jews worldwide.
Nice work copper – thanks for the info
Maybe his daughter needs more room to jump her horses.
thanks..that explains a lot. Now let's start a rigorous vetting process for our candidates.
What evidence are you aware of that Rupert Murdoch has an involvement in this? Frankly, I don't believe it.
Merry,
Actually it was reported in the MSM as well, I think, as here when the initial stories about the Cordoba Project originally announced the Mosque. I also read it in an article on Real Clear Politics. It's no secret that Murdoch, Bloomberg and quite a few other wealthy financiers including the Clintons are involved in a number of projects and have been over the years. Murdoch and Bloomberg go way back. Their friendship and professional association have been well publicized. Rupert, like all billionaires, is apolitical. It's always about the financial bottom line.
Like arms dealers, the ubber wealthy cannot afford the luxury of principle since there is always money to be made on both sides of every issue. You can do your own research but that, I promise, is exactly what you will find, and you will no doubt be shocked to learn the names of other members of the world's "mega bucks" club.
Ahhhh the brothers hunt.
Tried to corner the silver market back in the day….don't think they totally succeeded but they got enough to suit their purpose. Tried the same thing with oranges, lol, but a freeze wiped out the crop in Florida. Guess they figured silver was less fragile.
Pretty dicey company up there where the air is thin……
Tex, I did a superficial search, did not pursue all links (I probably won't live that long), but two things jumped up: Murdoch published a book by Rauf, does know him and may even be friends with him. On Cordoba, though, all links (I didn't pursue it beyond "page 1") were blasting Murdoch and Fox for 'demonizing the project' and using it to 'stir up anti-Muslim sentiment'.
You're right, many of the "uber rich" are involved in multiple financial interests in Muslim areas, with many of them likely motivated by self-interest and personal gain. I don't know Murdoch and can't address that, except that Murdoch (or any of the others) may be less short-sighted than Bloomberg (or whoever), recognizing that anything that puts the American capitalistic system in jeopardy will ultimately come back and bite (them) and (their) own "bottom line." It's always possible that self-preservation rather than principle could dictate opposition to an "Islamicist foot in the door."
I'm still confused over ownership of the land this monstrosity is to be built on. I live in western NY and keep seeing commercials that say the land is owned by Con-Ed. What's Con-Ed's dog in this fight?!?
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