Monday, July 21, 2008

What A Difference A War Makes


IF you think the US markets have problems, look at the value of al
Qaeda
shares throughout the Muslim world: A high-flying political equity
just a few years ago, its stock has tanked. It made the wrong strategic
investments and squandered its moral capital.

In the immediate aftermath of 9/11, Osama bin Laden was the darling of the
Arab street, seen as the most successful Muslim in centuries. The Saudi royal
family paid him protection money, while individual princes handed over cash
willingly: Al Qaeda seemed like the greatest thing since the right to abuse
multiple wives.

Osama appeared on T-shirts and his taped utterances were awaited with fervent
excitement. Recruits flocked to al Qaeda not because of "American aggression,"
but because, after countless failures, it looked like the Arabs had finally
produced a winner.

What a difference a war makes.