DAILY BASKET – NEWS COMMENTARY
Saudi Banks And Companies Sued In American Courts For Terrorism
MARSAL COMMENTS: First, specially designed US legal weapons (The Alien Tort Statute & JASTA) were created and lined up. Now, they have begun their barrage. First the venerable “Arab Bank of Jordan, and now a batch of Saudi Banks and companies are being sued for “aiding and abetting” terrorism.
A group of insurance companies have filed a US$ 4.2 Billion case against Saudi banks (Rajhi and National Commercial), various Bin Laden related companies, Saudi charities and others.
Additionally, there are quite a few more cases already filed but under process to group them as a “Class Action”.
It looks like the anticipated deluge of cases has begun. Will the Arabs sink in this flood and kiss goodbye their Petrodollars? (See our previous article on JASTA)
NEGATIVE FOR: Saudi and All Arabs. Also negative for world international relations as well as trade.
POSITIVE FOR: The USA. Possibly for Russia, as more Arab investment may gravitate to it as a safe haven (Qatar seems, for various reasons, heading gradually in this direction).
IMPACT POTENTIAL: High
TIME SCOPE: Medium & Long Term
READ ORIGINAL: U.S. Insurers Sue Saudis For $4.2 Billion Over 9/11