LAWSUIT AGAINST THE TREASURY AND FED PROCEEDING

ANN ARBOR, MI – Proclaiming that times of crisis do not justify departure from the Constitution, Federal District Court Judge Lawrence P. Zatkoff allowed the lawsuit against Treasury Secretary Timothy Geithner and the Federal Reserve Board challenging the AIG bailout to proceed. The lawsuit was filed last December by the Thomas More Law Center, a national public interest law firm based in Ann Arbor, Michigan, and attorney David Yerushalmi, an expert in security transactions and Shariah-compliant financing. In his well-written and detailed analysis issued yesterday, Judge Zatkoff denied the request by the Obama administration’s Department of Justice to dismiss the lawsuit. The request was filed on behalf of Treasury Secretary Timothy Geithner and the Federal Reserve Board – the named defendants in the case. In his ruling, the judge held that the lawsuit sufficiently alleged a federal constitutional challenge to the use of taxpayer money to fund AIG’s Islamic religious activities.

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