Multi-Billion $ Lawsuit Against Saudis

[CycloWizard]

NEW YORK ? Cantor Fitzgerald Securities (search), a bond trading firm that lost two-thirds of its workers in the World Trade Center attack, has sued Saudi Arabia for allegedly supporting Al Qaida (search) prior to the Sept. 11 attack through financing, safe houses, weapons and money laundering.
...
The lawsuit noted that it carried many of the same defendants, transactions, events and questions of law as an earlier $300 billion lawsuit brought by insurance companies against terrorist groups, companies and countries supporting terrorism. That lawsuit, which also names Saudi Arabia, is still pending.

Does anyone know how international lawsuits work? Are they staged within the US, or in international courts, and whose laws apply?

 

[0marTheZealot]

this is going to get tossed out.

1. American courts --> far too political. Last thing we want to do is add another crisis to the unstable energy market.

2. Saudi courts. Absolutely corrupt system. No possibility this even gets argued.

 

[Todd33]

The 911 victim's families already tried to sue SA.

 

[raildogg]

I listen to the John Batchelor radio, which is the best radio show on earth and a guy named John Loftus comes on there. He is a consultant to the 9/11 families and other victims who are sueing the evil Saudi's for $1 billion.

I think you can visit his website. Not sure, i think its www.john-loftus.com

Those evil Saudi's deserve every punishment imaginable, those evil pathetic losers are to blame for 9/11

 

[Kibbo]

I've not heard any evidence that the Saudi Government supported Al-Queada. I'm not saying that they didn't, I'm just saying that there needs to be evidence.

 

[DeeKnow]

from the little that i know, you can only sue them in a US court, but the Saudis are not bound to honor any convictions (or even decisions) of a US court, so its a bit of a lame thing to do... sure you'll hurt their reputation (in the event a US court had the balls to find against them in the first place), but with a third of a billion dollars flowing out of the ground every morning, who needs to worry about reputation???

 

[CanOWorms]

Originally posted by: DeeKnow
from the little that i know, you can only sue them in a US court, but the Saudis are not bound to honor any convictions (or even decisions) of a US court, so its a bit of a lame thing to do... sure you'll hurt their reputation (in the event a US court had the balls to find against them in the first place), but with a third of a billion dollars flowing out of the ground every morning, who needs to worry about reputation???

can't they seize some of their assets in the US? Isn't that what happens when people sue Libya or other countries in the US? They get the money from that country's assets in the US (in the case of Libya, frozen assets)

 

[jpeyton]

Originally posted by: CanOWorms

Originally posted by: DeeKnow
from the little that i know, you can only sue them in a US court, but the Saudis are not bound to honor any convictions (or even decisions) of a US court, so its a bit of a lame thing to do... sure you'll hurt their reputation (in the event a US court had the balls to find against them in the first place), but with a third of a billion dollars flowing out of the ground every morning, who needs to worry about reputation???

can't they seize some of their assets in the US? Isn't that what happens when people sue Libya or other countries in the US? They get the money from that country's assets in the US (in the case of Libya, frozen assets)

Hah, the Bush family and the House of Saud go waaaay back. You think either one will allow the Saudi's assets to be frozen? In your dreams.

Besides, even if we somehow did freeze their assets, they could make that money back in a year through their control of the oil supply. The Saudi's have the world's oil supply line by the balls; you mess with their control, and you're asking for trouble.

 

[CycloWizard]

Originally posted by: jpeyton

Originally posted by: CanOWorms

Originally posted by: DeeKnow
from the little that i know, you can only sue them in a US court, but the Saudis are not bound to honor any convictions (or even decisions) of a US court, so its a bit of a lame thing to do... sure you'll hurt their reputation (in the event a US court had the balls to find against them in the first place), but with a third of a billion dollars flowing out of the ground every morning, who needs to worry about reputation???

can't they seize some of their assets in the US? Isn't that what happens when people sue Libya or other countries in the US? They get the money from that country's assets in the US (in the case of Libya, frozen assets)

Hah, the Bush family and the House of Saud go waaaay back. You think either one will allow the Saudi's assets to be frozen? In your dreams.

Besides, even if we somehow did freeze their assets, they could make that money back in a year through their control of the oil supply. The Saudi's have the world's oil supply line by the balls; you mess with their control, and you're asking for trouble.

Funny, I didn't realize Bush controlled the judicial branch. Nor did I recall reading in history about how the Bush family ran the world.

The Saudis produce about 1/3 as much as all of OPEC in one day - OPEC could increase production to overcome this if it came down to it. The supply of oil is not as tenuous as people are led to believe.

 

[GroundedSailor]

Originally posted by: CycloWizard

Funny, I didn't realize Bush controlled the judicial branch. Nor did I recall reading in history about how the Bush family ran the world.

The Saudis produce about 1/3 as much as all of OPEC in one day - OPEC could increase production to overcome this if it came down to it. The supply of oil is not as tenuous as people are led to believe.

Even if some court found SA guilty and awarded damages (imagine the furor that will cause in diplomatic circles!) the executive branch has to consent to freezing SA assets. Given the oil we buy from SA that will never happen. jpeyton's comment 'in your dreams' about sums it up.

Bush family may not rule the world but the US President is arguably the most powerful person on earth today. And Bush family links to SA, though denied, are well documented.

Do your research and you will know that while other countries may have a lot of oil SA is the one country which has the spare production capacity to immediately increase production. That is basically how they control the price oil and keep the OPEC hawks (who like to keep the price high) in check.

<----------- Not a SA fan, infact many years ago refused to work for a SA company when asked.

 

[Infohawk]

GWB and his daddy will probably testify for the Saudis. :roll: