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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.23

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Nov 28 12:59 PM EST

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To: Oeconomicus who wrote (157351)	5/19/2003 11:28:11 AM
From: GST	Read Replies (1) of 164684

<<Unheeded Alarms in Saudi Arabia Among the casualties of this week's suicide bombings in Riyadh is Saudi Arabia's expensively promoted pretense that it is responding adequately to the challenge of radical Islamic terror. Images of a different, far more disturbing reality flashed across the world on Monday night. Despite repeated warnings from Washington of imminent terrorist attacks, security precautions at foreign compounds were grossly deficient. The Saudi royal family's endlessly debated efforts to defuse the political and social grievances that terrorists exploit are not moving forward with appropriate urgency. Washington is right to assume that these bombings are not likely to be the last such attempts in the troubled Saudi kingdom. Riyadh must be equally realistic about the serious threat it now faces and respond far more effectively — with better security, tighter monitoring of terrorist finances and an accelerated program of reforms. One immediate response to this week's bombings must be a strengthening of security protections at the compounds where most Westerners and many rich Saudis live. Even though the Pentagon now plans to withdraw most American military personnel from Saudi Arabia this summer, tens of thousands of Western civilians will remain. Saudi Arabia's immense oil wealth once seemed a guarantee of domestic peace. But an exploding population, declining oil prices, rampant corruption and the emotional power of Islamic rage have changed that. The average young Saudi faces diminishing opportunities and declining real income. Those outside the royal family have no real political rights, and women have few rights of any kind. Reforms like an elected parliament, greater accountability for royal finances and an independent judiciary would be beneficial in themselves and could reduce the alienation that makes it easier for terrorists to raise money and operate undetected. The Saudi royal family lags far behind neighboring sheikdoms and emirates in minimally adjusting to the demands of the 21st century. Saudi Arabia's era of denial must end before any more lives are needlessly lost. nytimes.com

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