Arnold Kling has this excellent analysis of President Bush’s acceptance speech at the Republican National Convention.
And Professor Maule has some insightful comments on the President’s proposals regarding income tax simplification.
Sigh.
New York-based bond trading firm Cantor Fitzgerald Securities, which lost two-thirds of its workers in the World Trade Center attack of September 11, 2001, has sued Saudi Arabia and dozens of other defendants — including numerous banks and Islamic charities — in U.S. District Court in New York for a mere $7 billion for allegedly supporting al Qaeda before the attack through financing, safe houses, weapons and money laundering.
Saudi Arabia is the birthplace of al Qaeda leader Osama bin Laden and 15 of the 19 Sept. 11 hijackers.
The lawsuit involves many of the same defendants, transactions, events and questions of law as an earlier $300 billion lawsuit that various insurance companies have brought against Saudi Arabia, terrorist groups, companies and other countries supporting terrorism. That lawsuit is still pending.
The Cantor Fitzgerald lawsuit takes dead aim at Saudi Arabia, saying the kingdom “knew and intended that these Saudi-based charity and relief organization defendants would provide financial and material support and substantial assistance to al Qaeda.” The lawsuit alleges that Saudi Arabia engaged in a pattern of racketeering as it participated directly and indirectly in al Qaeda’s work through funding and controllings its “alter-ego” charities and relief organizations. In addition, Cantor Fitzgerald alleges that Saudi Arabia materially supported al Qaeda by helping to raise money for it, by intentionally employing al Qaeda operatives, by laundering its money and by providing al Qaeda with safe houses, false documents and ways to obtain weapons and military equipment.
Interestingly, the U.S. federal government has generally opposed this type of lawsuit on the grounds that it interferes with the government’s exclusive power to conduct foreign policy. No word yet on the government’s stance toward the Cantor Fitzgerald lawsuit.
Jeff Bagwell, Carlos Beltran, Craig Biggio and Jose Vizcaino homered and the Rocket won his 325th career win as the Stros beat the Pirates in the first game of their weekend series at the Juice Box, 8-6.
The Stros are in the midst of a major winning trend. They have now won seven straight, 15 of their last 18 games, and 10 of their last 11. They have closed to within 2Ω games of the Hurricane Frances-idled Cubs, who are the leader in the race for the NL wild-card playoff spot.
Clemens (15-4) won his third straight start, and moved into sole possession of 12th place on the career wins list. He took a 7-0 lead into the seventh inning but tired and wound up allowing four runs and six hits in 6 2/3 innings. The Rocket even added an run-scoring single in the sixth for his seventh RBI of the season. Dan Wheeler pitched a perfect eighth and Brad Lidge worked the ninth for his 19th save in 22 chances.
By the way, General Richard Myers, chairman of the Joint Chiefs of Staff, threw out the ceremonial first pitch as part of the Astros’ Military Appreciation Night. Turns out that General Myers is a former high school classmate Alan Hendricks, who represents Clemens along with his brother, Randy.
Carlos Hernandez takes the pill in Saturday night’s game against the Pirates Josh Fogg as the Stros attempt to pull within two games of the still idle Cubs.