Unenlightenment

unenlightenment n : a lack of understanding [ant: enlightenment]

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Name: Ricky Ricardo
Location: Baltimore, Maryland, United States

Thursday, October 23, 2008

A Clear Case Against Barack Obama

Watch this video and you definetely will not want to vote for Obama:

Click here: New York - A Jewish Case Against Barack Obama

Sunday, September 28, 2008

Baltimore, MD - Presidential Cookie Poll Being Cast at Goldman's Kosher Bakery

Baltimore, MD - You've probably heard of the Gallup Poll or the New York Times Poll, but what about Baltimore's Presidential Cookie Poll?

They're rolling in dough at Goldman's Kosher Bakery in Northwest Baltimore. Besides all the delicious cookies and cakes, Baltimoreans are voting for president in the now famous Goldman's Cookie Poll.

Whether it's Senators John McCain or Barack Obama folks love this lighter approach to the presidential race.

The busy bakery has prepared and sold more than 800 of the edible sugary confections.

"It's a basic sugar cookie. It's a cookie dough, iced with extra sweet icing, and its edible," said Leah Cohn, Goldman's Kosher Bakery.

Take a look at the results, reflecting what experts say is a close contest.

Advertisement:
McCain, Obama, Obama, McCain, what happens if you're undecided?

"Right now, Obama is 50 per cent and McCain is 48 percent," said Cohn.

It's all fun in the final weeks of campaign 2008.

"Oh, I think its great. Anytime you can get fun, out of politics, it's something positive for a change,' said Donna Trotter, customer.

The polls opened at Goldman's back on Sept. 5 and will stay open through Election Day.

Friday, September 26, 2008

Radical Settlers Take On Israel

YITZHAR, West Bank — A pipe bomb that exploded late on Wednesday night outside the Jerusalem home of Zeev Sternhell, a Hebrew University professor, left him lightly wounded and created only a minor stir in a nation that routinely experiences violence on a much larger scale.

But Mr. Sternhell was noted for his impassioned critiques of Jewish settlements in the West Bank, once suggesting that Palestinians “would be wise to concentrate their struggle against the settlements.” And the authorities found fliers near his home offering nearly $300,000 to anyone who kills a member of Peace Now, a left-wing Israeli advocacy group, leading them to suspect that militant Israeli settlers or their supporters were behind the attack.

If so, the bombing may be the latest sign that elements of Israel’s settler movement are resorting to extremist tactics to protect their homes in the occupied West Bank against not only Palestinians, but also Jews who some settlers argue are betraying them. Radical settlers say they are determined to show that their settlements and outposts cannot be dismantled, either by law or by force. [Please note that this entire article, this paragraph especially, seems to be based entirely on conjenture and bias].

There have been bouts of settler violence for years, notably during the transfer of Gaza to the Palestinians in 2005. Now, though, the militants seem to have spawned a broader, more defined strategy of resistance designed to intimidate the state.

This aggressive doctrine, according to Akiva HaCohen, 24, who is considered to be one of its architects, calls on settlers and their supporters to respond “whenever, wherever and however” they wish to any attempt by the Israeli Army or the police to lay a finger on property in illegally built outposts scheduled by the government for removal. In settler circles the policy is called “price tag” or “mutual concern.”

Besides exacting a price for army and police actions, the policy also encourages settlers to avenge Palestinian acts of violence by taking the law into their own hands — an approach that has the potential to set the tinderbox of the West Bank ablaze.

Hard-core right-wing settlers have responded to limited army operations in recent weeks by blocking roads, rioting spontaneously, throwing stones at Palestinian vehicles and burning Palestinian orchards and fields all over the West Bank, a territory that Israel has occupied since 1967. They have also vandalized Israeli Army positions, equipment and cars.

In Jewish settlements like Yitzhar, an extremist bastion on the hilltops commanding the Palestinian city of Nablus in the northern West Bank, a local war is already being waged. One Saturday in mid-September a Palestinian from the neighboring village of Asira al Qibliya climbed the hill to Shalhevet, a neighborhood of Yitzhar, set fire to a house whose occupants were away for the weekend and stabbed a 9-year-old settler boy, the Israeli Army said.

Hours later, scores of men from Yitzhar rampaged through the Palestinian village, hurling rocks and firing guns, in what the prime minister of Israel, Ehud Olmert, described as a “pogrom.” Several Palestinians were hospitalized with gunshot wounds.

“The army was complaining that we were bothering them in their efforts to catch the terrorist,” said Ephraim Ben Shochat, 21, a resident of Shalhevet Ya, an illegal outpost consisting of three permanent houses and a trailer halfway down the slope between Yitzhar and Asira al Qibliya.

“To us, deterrence is more important than catching the specific terrorist. We’re fighting against a nation,” Mr. Ben Shochat said.

As he spoke, soldiers were in the process of reinforcing a small army post at the end of the path with concrete slabs. “We would rather fight and kill the enemy,” Mr. Ben Shochat said, adding scornfully that the army, which guards Yitzhar and its satellites from the lookout post, “would rather hide.”

Ten months ago in Annapolis, Md., Israeli and Palestinian leaders pledged to make every effort to reach a historic agreement for a Palestinian state in the West Bank and Gaza by the end of this year. The Palestinians further promised to dismantle all terrorist networks, and the Israelis agreed to freeze all settlement activity and immediately remove settlement outposts erected since March 2001.

In practice, only a handful of the 100 or so outposts, at least half of which were erected since 2001, have been removed, and construction in the official West Bank settlements goes on.

At the same time, the religious, ideological wing of the settlement movement has grown more radical. Those on the extremist fringe — like Mr. Ben Shochat, who belong to the so-called hilltop youth — are increasingly rejecting any allegiance to the state, backed up by an older generation of rabbis and early settler pioneers.

In Samaria, the biblical name for the northern West Bank, and in Binyamin, the central district around the Palestinian city of Ramallah, settlers recently ousted their more mainstream representatives in local council elections, voting in what they called “activist” mayors instead.

These new mayors, like the Samaria council’s Gershon Mesika, reject what they see as the more compromising policies of the Yesha council, the settler movement’s longstanding umbrella group. They are particularly incensed by the Yesha council’s willingness to negotiate with the government over the removal or relocation of some West Bank outposts in exchange for official authorization of others.

“We are taking our fate into our own hands,” Mr. Mesika said of the price tag doctrine. “We won’t go like sheep to the slaughter.” He added that the recent settler violence was something he understood, though did not support.

For many in the religious, ideological settler camp the rude awakening came with the unilateral withdrawal from Gaza in the summer of 2005. Then, under the premiership of Ariel Sharon, a driving force of the settlement-building enterprise who turned more pragmatic, Israel evacuated all 21 Jewish settlements there, and razed four official settlements in the northern West Bank. Another watershed came in early 2006 when thousands of settlers clashed with Israeli police officers who had come to destroy nine houses built without government permission in Amona. Traumatized by the resistance, the government put plans for further evacuations on hold.

“Amona pretty much divided this public into two parts, the more militant activist part and the more passive part,” said Mr. HaCohen, an Orthodox hilltop youth pioneer and a founder of Shalhevet Ya. The people, he said, “have to decide whether they are on the side of the Torah or the state.”

Mr. HaCohen was speaking from a cousin’s house in Jerusalem. Identified by the Israeli security services as one of the authors of the price-tag doctrine, he has been banned by the army from entering the West Bank for four months.

Born in Monsey, N.Y., Mr. HaCohen came to Israel with his parents as a child. He dropped out of yeshiva, or religious seminary, at 16 and went to settle the hilltops, he said. He got married at 18 and has since been living in and around Yitzhar.

Representing the messianic, almost apocalyptic wing of the settler movement, Mr. HaCohen peppers his speech with talk of redemption and makes it clear that in his land of Israel, there is no place for Arabs.

Like Mr. Ben Shochat, Mr. HaCohen, who is disarmingly soft-spoken, said he was not drafted into the army because of his religious beliefs. As a member of Yitzhar’s first response security team, though, he receives regular combat training and has a personal weapon.

More than 250,000 Jewish settlers live in the West Bank among roughly 2.4 million Palestinians, not including East Jerusalem. The Samaria council represents 30 official settlements and 12 unauthorized outposts that it says were all founded before 2001; others, like Shalhevet Ya, have sprung up since then, at least partially on private Palestinian lands.

Local settler leaders argue that the only difference between an authorized settlement and an illegal outpost is the lack of the defense minister’s final signature on the planning papers, and that in any case, full authorization did not help the settlements razed in 2005.

They complain of government hypocrisy. Rahelim, a Samarian community of 45 families founded in 1991, has been labeled an illegal outpost even though the state Housing Ministry built 14 permanent homes here in 1998.

Avri Ran, a charismatic guru of the hilltop youth, formulated the concept of the outposts around the time that Israel started negotiating with the Palestinian leadership in the early 1990s. The idea was to populate empty spaces of the West Bank with Jews to preclude their being handed over to the Palestinians.

Mr. Ran and his wife, Sharona, started out in Itamar, a settlement just south of Nablus, and moved from hilltop to hilltop, finally establishing a private ranch more than a mile east of the mother settlement majestically named Givaot Olam, or hills of the universe.

Like many of the settlers in this area who see themselves as guardians of Joseph’s Tomb, a site sacred to Jews that lies in the heart of Nablus, the Ran family exudes a deeply religious, almost mystical attachment to the land.

The farm is said to be the largest Israeli producer of organic eggs. Mr. Ran’s son-in-law, Assaf Kidron, an artist who works in stone, says the inclement winds that used to whip around the mountain have dropped significantly since Jews came to live here, proof of a divine hand.

Outside the settlement of Har Bracha on Mount Grizim, settlers have taken over a former army lookout post on the ridge overlooking Nablus and Joseph’s Tomb, and just started operating a yeshiva to ensure a permanent presence there. Nobody has tried to remove the settlers, although there is an army position a short distance along the ridge.

In general, the relationship between the religious settlers of the area and the army is an ambiguous, if symbiotic one. Most young ideological settlers serve in the army and now make up an increasing portion of the elite combat units and the officers corps.

At the same time, two soldiers have been lightly wounded in recent settler riots.

“To go out and assault soldiers is wrong,” said David Ha’ivri, who handles foreign relations for the Samaria council. But, he said, “It is to be expected that when force is used, there will be counterforce.”

The army is appreciated when it sticks to providing security, Mr. Ha’ivri added, but, “We don’t respect them in the role of enforcing building codes.”

The army refused to comment on the effects of the price-tag doctrine, saying it was too sensitive.

A spokesman for the Israeli police, the party responsible for law enforcement among the settlers, said that in the last two months, at least half a dozen arrests had been made.

Wednesday, September 24, 2008

Ahmadinejad at the UN: Blame the Zionists

3. Ahmadinejad: Blame the Zionists
by Hana Levi Julian

The man that Israeli leaders consider to be the Number One threat to the existence of the State of Israel told the United Nations General Assembly Tuesday that 'Zionists" are the cause of the current financial disaster sweeping the world.

Iranian President Mahmoud Ahmadinejad also told world leaders, "A few bullying powers have sought to put hurdles in the path of Iran's peaceful development of nuclear power. These are the same countries that possess stockpiles of nuclear arms that no one is monitoring."

It is believed that Iran is developing a nuclear weapon of mass destruction despite Ahmadinejad's denials.

The Iranian president accused European nations of "spending their dignities and resources on the occupations, crimes and threats of the Zionist network" and called for a referendum in Israel and the Palestinian Authority to create a government that would rule over a single state encompassing both Arabs and Jews.

"Today, the Zionist regime is on a definite slope to collapse, and there is no way for it to get out of the cesspool created by itself and its supporters," he said. The Iranian president blamed "Zionists" for the financial woes in Europe and the US by controlling economic centers around the world in "a deceitful, complex and furtive manner."

Nor did he spare the United States from his forecast of doom, declaring that it should mind its own business on the international scene. The "American empire in the world is reaching the end of its road, and its next rulers must limit their interference to their own borders," he said.

Ahmadinejad reiterated that Iran would continue to develop its nuclear technology, regardless of any efforts by the international community to halt the process. "The great Iranian people… will resist the bullying and has defended and will defend its rights," he said. "The Iranian nation is for dialogue. But it has not accepted and will not accept illegal demands."

Peres: First Time UN Allows Official Anti-Semitism

President Shimon Peres slammed Ahmadinejad's rant against "Zionist murderers", saying it constituted "the first time in the history of the United Nations that the head of a state is appearing openly and publicly with the ugly and dark accusations of the 'Protocols of the Elders of Zion.'"

The reference was to an infamous anti-Semitic diatribe published in the early 1900s that alleged a Jewish and Masonic conspiracy to seize control of the world. It is considered a hoax.

Peres added that Ahmadinejad's speech recalled "the darkest accusations in an air of hatred."

Tuesday, September 23, 2008

Baltimore, MD - Community Unite To Remember 16yr Old Chananya Backer Z’l Killed In Tragic Accident

Baltimore, MD - Community Unite To Remember 16yr Old Chananya Backer Z’l Killed In Tragic Accident

09-22-2008 - 9:10 AM

Baltimore, MD - Monday, 9 Elul marked the Sheloshim of Chananya Backer Z”l a 16 year old who was seriously injured [reported by VIN News] in a car accident and was niftar on Tishah B’av. A siyum mishnayos was held in his memory, attended by family and close friends. A group of his friends in Eretz Yisroel also made a siyum mishnayos in his zechus.

Chananya was a sweet boy who was beloved by his family and friends. Although he was not in school, he was committed to learning and ‘leind’ regularly in Shul on Shabbos

When Chananya was seven years old, he was the only boy among five siblings. He longed so much for a brother that he gathered his friends to say tehilim to ask Hashem for a brother.

When his request was not immediately granted he was disappointed. His mother davend “Hashem for the sake of this sweet boy please answer his request”. Not long afterward, the Backer family was blessed with two more boys. During the Shiva Chananya’s sister remarked “if not for Chananya it would be just the four of us”.

When Chananya’s grandfather lived nearby assisted-living home, it was his responsibility to pick him up and bring him to the Backer home each shabbos, a task he performed with love and compassion. When his grandfather became ill, Chananya spent many hours at his bedside.

Mrs. Backer commented that Chananya’s tragic death touched the lives of many people. A man named Reb Shimon came to the Backer home to collect tzedakah a month before the accident. He played with the younger boys, and Mrs. Backer asked him for a bracha for the older son, which he granted warmly. Shortly after the Shiva, Reb Shimon returned, and Mrs. Backer told him that her son had been niftar. Reb Shimon began to cry and sat down again with the younger boys, this time to comfort them.

A Muslim woman from Jordan who had business contacts with the relatives came to the house during the Shiva. She told the family that she had planted trees in Israel in Chananya’s memory. Among the many cards that came after the Shiva, Mrs. Backer opened one stating that a donation had been given in Chananya’s memory to help battered woman in Uganda. Mrs. Backer was not quite sure how to react but than said “if Chananya’s death can help battered woman in Uganda, surely he can help Klal Yisroel”

Chananya was as sweet boy who struggled with many life challenges. His death occurred under tragic circumstance; he was a passenger in a car whose driver was inebriated. The family wanted the incident to serve as an impetus for changes in the community. To address this need, Rabbi Moshe Hauer, Rav of Bnai Jacob Shaarei Zion, addressed a community gathering on Sunday evening, September 8.

Mr. Ephraim Backer, Chananya’s father, opened the program by thanking the Baltimore community for their amazing support throughout the entire ordeal. Mr. Backer, a kohen bentched the community and asked Hashem protect and preserve it.

Rabbi hauer spoke about how parents, educators, and the community as a whole need to work together to assure the success of our children, and he cited many areas that need to be examined. For example, he said, we need to broaden our definition of success; not all children can succeed under the current narrow definition, and it’s not fair to them. Additionally, we need to show more simchas hachaim. Too many people express their yiddishlkeit trough seriousness and tension. Our children need to see happiness.

Our day schools and yeshivas are understaffed, and staff members are underpaid, making it difficult to undertake the crucial task of forming relations with each student. Rules need to be made within the context of this relationships; otherwise, they very often backfire. We cannot push with the left without pulling harder with the right. This must be done within the context of a strong, loving relationship. Guidance counselors and big brother/big sister programs in schools are imperative.

Parents need to be very involved in their children’s lives, and a child should never be cut off from them. If for some reason a child need to spend time out-side of the home or cannot continue in school, everyone involved should nevertheless remain in contact with him or her and continue to show interest and offer assistance.

Rabbi Hauer begged the community to establish more safe recreational programs for kids and teens. Several young married people approached him recently and said “that was me a few years ago. I want to help.”

One teenage boy told Rabbi Hauer that his aunt and uncle had called him up and said “We know what you are up to and that you are drinking. Please, we beg you, wherever you are, whatever time it is, if you need to get home, call us. We will come to get you.” The boy was extremely touched. He realized that someone really cared, and her also realized how dangerous drunk driving can be. This helped him turn around and change his ways.

Rabbi Hauer mentioned that often, when a child is having trouble, people blame the family. They don’t realize how many hours of personal anguish and hard work family has been trough. In addition, the reality is that the entire community is involved in creating the situation, and the entire community needs to be involved.

A question-and-answer session followed the address. The evening ended with hopes foe continued dialogue and, b’ezras Hashem, much-needed change.

Wednesday, September 17, 2008

Tzipi Livni, Israel’s Foreign Minister, Wins in Party Election

Israel’s Foreign Minister Wins in Party Election

ABSTRACT: JERUSALEM — Foreign Minister Tzipi Livni narrowly won election Wednesday to replace Prime Minister Ehud Olmert as the leader of Israel’s Kadima party, edging past her main rival, Transportation Minister Shaul Mofaz, by just over a percentage point, according to official results released Thursday.

Click here for full article.

The Rebbe Used to Read My Blog

Just Kidding....its really funny to read the comments on the original post..on vin

Brooklyn, NY - Who Will Fill the Shoes of Boruch from Crown Heights?

09-16-2008 - 7:44 PM

Kievman Shoe Store Closing after 23 Years. Photo Credit: Crownheights.infoBrooklyn, NY - Boruch Kievman still can’t believe the media storm that has descended on him since rumors hatched that the legendary late Lubavitcher rebbe used to shop at the legendary, nameless shoe store Kievman manages in Brooklyn’s Crown Heights neighborhood.

Today he stood at the entrance to the store, a sheepish smile across his face, and denied he was responsible for spreading the story that Rabbi Menachem Mendel Schneerson frequented the shop, which is closing after over 80 years.

Kievman, 65, is a former Israeli, and along with his wife has been running the shop for 23 years. He says its clientele represents the area in which it is situated.

“Our clients are Lubavitch Hasidim and black people,” he says.

The store’s address has also won it a certain reputation. It sits just across the street from 770 Eastern Parkway, Chabad’s world headquarters, where the rebbe himself presided, from 1950 until his death in 1994.

Kievman and his wife recently decided to retire from the shoe business, and held a clearance sale for all the remaining items in the store.

At the peak of the sale, one of the Chabad Web sites published an announcement claiming that the rebbe himself was wont to shop at the store.

“The rebbe never came to my store, and whoever spread that rumor didn’t hear it from me,” Kievman says. “Only one who doesn’t understand the greatness and sanctity of the rebbe, and isn’t familiar with his modest, ascetic way of life would believe a story about him coming to buy himself shoes.”

The affair raised a firestorm in the neighborhood. Some, however, have to view it as reflective of the community’s abiding yearning for the late rebbe.

One stream of Chabad faithful views the rebbe as the Messiah himself, and continues to anticipate his imminent return.

“The month of Elul raises an air of longing for the presence of the rebbe, who at this time of year was at the peak of his spiritual activity,” said an elderly Hasid emerging from morning prayer at a neighborhood synagogue.

“What may have happened,” Kievman responds, “is that one of the rebbe’s secretaries visited the store and bought a pair of shoes intended for the rebbe.”

But even that version is not acceptable to Kievman. “The most comfortable shoe is an old shoe,” he says.

A Chabad representative who was close to the rebbe said today, “For 30 years, the rebbe wore old shoes with soles full of holes. Only at age 87, two years before he fell ill, was he bought new shoes.”

Meanwhile, sales at the shop have reached the heavens.

But Kievman says the rush has nothing to do with the rebbe, and everything to do with clearance prices.

Baltimore: Rambam School to Go to New York for UN Protest and Will Hear Sarah Palin Speak

Washington, DC - Clinton Blindsided by Scheduled Event with Palin. Palin Responds
09-16-2008 - 11:45 PM



Washington, DC - Sen. Hillary Rodham Clinton has canceled an appearance at a New York rally next week after organizers blindsided her by inviting Republican vice presidential candidate and Alaska Gov. Sarah Palin, aides to the senator said.

Several American Jewish groups plan a major rally outside the United Nations on Sept. 22 to protest against Iranian President Mahmoud Ahmadinejad.

Organizers said today that both Clinton, who nearly won the Democratic nomination for president, and Palin, Republican candidate John McCain’s running mate, are expected to attend.

That would have set up a closely scrutinized and potentially explosive pairing in the midst of a presidential campaign, one in which the New York senator is campaigning for Democratic nominee Barack Obama while Palin actively courts disappointed Clinton supporters.

Clinton aides were furious. They first learned of the plan to have both Clinton and Palin appear when informed by reporters.

“Her attendance was news to us, and this was never billed to us as a partisan political event,” said Clinton spokesman Philippe Reines. “Sen. Clinton will therefore not be attending.”

A McCain-Palin campaign official, speaking on condition of anonymity because Palin’s schedule for Monday has not been announced, said only that Palin tentatively planned to attend the rally.

Both McCain and Obama have made strong appeals to Jewish voters, particularly in critical states like Florida. Obama has emphasized to Jewish audiences his commitment to Israel’s security, and has worked to dispel doubts created by false rumors that he is Muslim.

U/D 10:00 AM
“Governor Palin believes that the danger of a nuclear Iran is greater than party or politics. She hopes that all parties can rally together in opposition to this grave threat.” —Tracey Schmitt, spokeswoman McCain-Palin 2008

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New York City - Palin To Speak at Anti-Ahmadinejad Rally Next Week

09-16-2008 - 4:10 PM



New York City - Sarah Palin will speak at next week’s Jewish-sponsored rally reported here by VIN News to protest Mahmoud Ahmadinejad at the United Nations.

In addition to Palin, the Republican vice-presidential nominee and Alaska governor, confirmed speakers include U.S. Sen. Hillary Rodham Clinton (D-N.Y.), an Iranian dissident, a black minister and Jewish leaders, according to a key group organizing the rally, the Conference of Presidents of Major American Jewish Organizations.

“The speakers represent the broad spectrum of American political life,” the group’s executive vice chairman, Malcolm Hoenlein, told JTA.

Asked if there would be someone from the Obama campaign at the demonstration, Hoenlein noted the presence of Clinton as a leading Democrat.

The rally, part of efforts by Jewish groups to stop Iran from obtaining nuclear weapons, will be held at 11:45 a.m. Sept. 22. It is expected to draw thousands of participants to Dag Hammarskjold Plaza, across from the United Nations.

Newton, MA - Butcher Suspends Kosher Supervision

As a Bostonian, I was obligated to post this.

Newton, MA - Butcher Suspends Kosher Supervision

09-16-2008 - 11:51 AM

Gordon and Alperin Kosher Resturant in NewtonNewton, MA - Ricardo Bosich, the owner of the Center Market and Grill, a Newton kosher butchery formerly known as Gordon & Alperin, decided to suspend his kosher supervision.

“I can’t afford the kosher supervision,” said Bosich, who is actively looking for a new supervisor that is less expensive. “It’s a hard time for everyone right now since the economy is so bad.”

A message from his former supervisor, Rabbi Aaron Hamaoui of the Sephardic Community of Greater Boston, explains that this “was not due to a violation, but a business decision made by the proprietor.”

In 2007, Bosich expanded his Commonwealth Avenue business, opening a grocery store, a catering operation, and a restaurant called the Avenue Deli.
However, a decline in business after losing his supervision has forced Bosich to sell the bakery and he is considering selling the deli too, he said.

Despite losing his supervision, Bosich said nothing has changed in how his food is cooked or prepared.
“The customers that know me for so many years, they are still shopping with me because I still do kosher,” he said.

Bosich said if he is unable to find a supervisor by Rosh Hashanah, he may be forced to stop selling kosher.
“I do business just shaking hands,” he said. “I hope to keep my business kosher but business is business and I have to support my family.”
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Article printed from Vos Iz Neias - (Yiddish:What’s News?):

Tuesday, September 16, 2008

Everyone Important is Jewish

Its really weird but Jews are so few in number but some how whenever I look into the bios of important people, they often have at least one parents who is Jewish.

For example, the creators of curious george were jewish (click here for bio).

Also, Katie Couric, although a practicing Christian has a Jewish mother. (click here)

Its just weird.

Wall St. Crisis Shakes Israel

Wall St. Crisis Shakes Israel
by Hana Levi Julian

The venerated securities firm of Lehman Brothers Holdings Inc. announced early Monday morning on its website it will file for Chapter 11 bankruptcy protection, stunning Wall Street and rattling financial markets around the world. Not least among them was the Tel Aviv Stock Exchange, which opened with sharp losses as it echoed the news.

Lehman was one of the first international investment banks to open its doors in the State of Israel, and businesses across the country are going to be affected by what is taking place on Wall Street.

Lehman has invested in numerous institutions in Israel, among them Bank Leumi, Psagot, the Clal group, Menorah and Harel Financial Services. All told, Lehman Brothers Inc. has invested more than NIS 850 million in Israeli institutions.

The company’s stock, which provides investment banking services to corporations, institutions, high-net worth individuals, municipalities and governments around the world, dropped by 93.88 percent since the beginning of this year, trading at $3.65 per share at the end of the day on Friday.

Although one of the smallest of Wall Street’s major players, with only 25,000 employees, Lehman Brothers has been a heavy hitter in the mortgage market.

The renowned investment bank began its most recent descent in the morass of the mortgage market crisis in the summer of 2007.

Lehman Brothers reported in June a second-quarter loss of $2.8 billion, far greater than had been expected by analysts and the harbinger of a general malaise in the market.

In September, the US government announced its takeover of the Fannie Mae and Freddie Mac mortgage finance companies, and two days later, Lehman Brothers announced its next expected loss of $3.9 billion,.It said it spinning off its commercial real estate holdings into a new public company.

Not far behind Monday’s morning’s blues was the gloom predicted by financial experts who eyed the next possible crash, that of major US insurance company, American International Group A.I.G.

The New York Times reported Monday that the insurance giant has asked for a $40 billion loan from the Federal Reserve to pull it through the current crisis; without that crucial support, the newspaper reports, the company might not survive.

A.I.G. provides insurance products – including general and life insurance as well as retirement services, financial services and asset management to individuals and businesses throughout the United States and abroad.

As with Lehman, the government has refused to provide a financial guarantee for purchases of subsidiaries of the firm by other companies, thus making the deal much less attractive to potential bidders. Ratings agencies have threatened to downgrade the insurance giant’s credit score on Monday if it does not raise the $40 billion by the end of the day.

A.I.G. maintains a large presence in the State of Israel, offering mutual funds, retirement services and a wide array of insurance products for individuals and businesses. The company’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.

A.I.G. officials in Israel said its operations would not be directly affected because it operates relatively independent of the parent company. Nonetheless, the shakiness of the political situation has raised eyebrows at the Standard & Poor financial assessment firm, which is studying whether to downgrade Israel's debt rating as fears of a recession continue to mount.

Another major New York securities firm, Merrill Lynch agreed Sunday to sell itself to the Bank of America for approximately $50billion in a last-ditch attempt to save itself from the same kind of financial crisis that just sank its competitor.

Merrill Lynch, with 60,000 employees, is actually comprised of two companies, a wealth management company and a bond trading firm. It is one of the largest firms in the financial services industry, run by some 17,000 brokers who manage the portfolios of its hundreds of thousands of high-net clients.

As with Lehman Brothers, the crash of the housing market and the rise in foreclosures has taken its toll, eating away at the value in high-risk, high-return securities backed by subprime home mortgages.

However, unlike Lehman, Merrill Lynch is also a household name in smaller markets across America as well, making it a more likely candidate to be tossed a lifeline by the Bank of America. Most of Lehman’s clients were major institutions.

The new conglomerate formed by the marriage of Bank of America’s “wealth advisers” and Merrill Lynch’s brokers will be called Merrill Lynch Wealth Management. The deal brings the bank to the top of the brokerage houses and consumer banking franchises.

For Lehman Brothers, the end came when the government refused to absorb any of its losses on some of its trouble real estate assets, as it had in the past with other firms that went belly-up. The law firm of Weil, Gotshal & Manges has been retained to manage the bankruptcy proceedings and liquidation, an ignominious end for so prestigious a firm.

Jerusalem - Orthodox Rabbinical Yeshiva Trains Students to Be Filmmakers

Jerusalem - Students being trained to become orthodox rabbis are also being trained to become filmmakers. Can orthodox observance and the world of film and cinema coexist?

Israeli Salad, IsraelNN TV’s weekly culture magazine, visits The Torat Hachayim School for Jewish Cinema and Media located in Yad Binyamin, east of Ashdod. The staff of the Torat Hachayim Rabbinical Seminary (yeshiva) decided that video is a tool that must be used for the sake of increasing spirituality in the world.