Kudos to Louisiana

[henryclay]

The Louisiana Citizens Protection Act, HB411, looks good to go and is ah , , sort of, , , patterned after Arizona's HB 1070 immigration bill except for one important add-on. The Louisiana bill has a provision that may upstage the SEC in that it says any mutual fund that is marketed in Louisiana as an "ethical investing" fund but in reality is Shariah-Compliant must have that information attached and disclosure must be made to any Louisiana resident who has an interest in obtaining such mutual funds.

www.freerepublic.com/focus/f-bloggers/2725479/posts

[rovo]

I'm trying to decide if this is a relevant post for this board or not. It may be more applicable to Politics and Markets rather than our straight investing board. That said, maybe it will die a quiet death if it stays here. I'm always the optimist. ;D

[henryclay]

Politics? Maybe. In fact I had it on the Politics board at first. It seems to hold information t6hat all investors might like to have when it tells us there are mutual funds ion the market that apparently support people who have declared war on us. Louisiana wants those funds identified if they are marketed in that state. I would think that anyone who bought the funds would also like to know which funds they are.

If the thread dies it will just die, but hopefully a few people will be alerted, who may also show an interest and discuss it with others.

But after all, I am only a poster. What do I know about American investors today? So if it doesn't fit, then delete it.

[Angel!]

Could someone explain what the hell a Shariah-compliant mutual fund is & why I should (or should not) have a problem with them?

[cme1201]

Jun 7, 2011 16:47:48 GMT -5 Angel! said:

Could someone explain what the hell a Shariah-compliant mutual fund is & why I should (or should not) have a problem with them?

A link to one
www.amanafunds.com/adviser/process/process.shtml

If you really interested in what they are here is a google search
www.google.com/#sclient=psy&hl=en&rlz=1R2GGLL_enUS399&source=hp&q=What%20is%20a%20Shariah-compliant%20mutual%20fund%20&aq=&aqi=&aql=&oq=&pbx=1&bav=on.2,or.r_gc.r_pw.&fp=7c22e9ce76d81c65&biw=1280&bih=679&pf=p&pdl=3000

Seems they have been out there for a while. One Canadian fund's website is from 99 so it's not something that is new, basically, they are mutual funds that block certain sectors from being invested in, Alcohol, porn, pork things that strict Islamics would find morally wrong.

[ugonow]

They sound a lot like the Christian mutual funds----www.businessweek.com/investor/content/mar2005/pi20050325_6141_pi050.htm

[ChiTownVenture]

Jun 7, 2011 16:47:48 GMT -5 Angel! said:

Could someone explain what the hell a Shariah-compliant mutual fund is & why I should (or should not) have a problem with them?

It seems like there would be quite a few funds that would "unintentionally" be considered Shariah-Compliant, a stigma which could hinder the funds ability to be purchased by the general public.

It's amazing the laws that are enacted that do more harm then good (unintended consequences).

[Angel!]

Thanks for the info. Geez this is absolutely asinine, but then it is brought to you by the same people who believe intelligent design is a theory worth teaching.

[billisonboard]

"Remember, all investments carry inherent risks to your soul. Consider all such risks before investing."

[AgeOfEnlightenmentSCP]

May 29, 2011 6:42:03 GMT -5 henryclay said:

The Louisiana Citizens Protection Act, HB411, looks good to go and is ah , , sort of, , , patterned after Arizona's HB 1070 immigration bill except for one important add-on. The Louisiana bill has a provision that may upstage the SEC in that it says any mutual fund that is marketed in Louisiana as an "ethical investing" fund but in reality is Shariah-Compliant must have that information attached and disclosure must be made to any Louisiana resident who has an interest in obtaining such mutual funds.

www.freerepublic.com/focus/f-bloggers/2725479/posts

*LIKE*

[AgeOfEnlightenmentSCP]

Jun 7, 2011 17:23:08 GMT -5 Angel! said:

Thanks for the info. Geez this is absolutely asinine, but then it is brought to you by the same people who believe intelligent design is a theory worth teaching.

As opposed to what? The idea that censoring a theory of origins is a better idea?

[moon/Laura]

i am at my limit as far as fighting goes. i am moving all the 'off topic' posts from here and i do NOT want to see any more arguing.

~moon mod