Chief Rabbi Against tycoon cuts

The Rishon Lezion Chief Rabbi Hgr"sh Amar replied to a query ruling to the Movement for Quality Government of the concentration phenomenon in the Israeli economy and cuts taken by tycoons.


News 1 site reports that before the Rabbi expressed his opinion, the Rabbi explained that he chose to examine the issue because he is "anxious for the property of Israel, and especially to the money of the poor of Israel," and therefore held that those who damage public funds with their actions - are committed to take responsibility for this damage and indemnify the injured parties. This concerns people who are experts and workers who are wage earners.

Rabbi Amar also states that the controlling shareholders and money managers cannot deny responsibility even when acted out of negligence and without malice. For him, whoever caused loss and damage to public funds - must restore the damage.


"And since there are those who handle public funds as above, get paid, and handsomely, they are all 'wage keepers', and they are responsible for keeping the money, and any negligence on their part is defined a crime and must pay off. And the law is that one who keeps wages also undertakes regular crimes like theft and loss. And if they did acted reasonably and successfully on their part, and caused loss unwillingly, it must be tested and evaluated by experts, to see if there is no need to consider and find out more before they committed their actions, they do not have an exemption under our holy Torah except on large crimes.

The rabbi added that the controlling shareholders in financial institutions may not invest funds in realistic institutions; he assumes that human nature is that he wants to take care of himself first and therefore the permit for cross-holding is actually an obstacle before the blind, an action contrary to human nature. Therefore he determines that there has been, in effect, a cross-ownership ban. This benefit is a crime and crime in the eyes of the rabbi, something serious, which one must not agree with.

"The halachic position according to our holy Torah is that controlling shareholders in financial entities spaces of all kinds, they and all their cohorts, including bank managers and managers of pension funds and money managers, including the obligation to manage the funds entrusted them with clean hands and honestly, it is forbidden to invest these funds in their companies, or which are conducted by them on the other hand, as they have profit or benefits from it, and that is a crime and offense, since mans nature is inclined to worry for himself, and he has feelings for his own good, which may tilt him from the straight path, and from the right consideration, and certainly may ultimately cause damage to the public who deposit him with the money."

'בחדרי' גם ברשתות החברתיות - הצטרפו!