I feel violated. In effect, Big Banking is telling America to pay up or else they will launch the country into a massive depression. I am irate. This was foreseeable. This was preventable. I remember being warned about sub-prime loans a couple of years ago. The analysts knew the risks then. I think our financial leaders should be held accountable.
Now we have a proposed solution. A 700 billion dollar bail out package. President Bush said this would allow money to become available for Americans to borrow so the economy can start moving again. That’s his answer? The economy will work only if we keep borrowing? Ridiculous. We would be doing a lot better if we would stop borrowing. A professor of mine recently said that we were taking God’s name in vain by putting it on our money. I see what he means now. It’s not “In God We Trust,” this feels more like “In Greed We Trust.”
My questions is: How should Christian leaders react to these developments? I can only think of two things. Prayer and helping average people manage their money better so that we aren’t taken advantage of by the corporate world. Do you have any other creative ideas for a response? I would appreciate suggestions.
I agree with you on the whole prayer and helping others manage their money. Find a financial planner and have them hold open sessions within the church…invite people to read Ramsay’s book…offer hope in a world that is riddled with greed…press on toward the goal!
Thanks for the comment, Frank! I have a draft of a post about Dave’s Financial Peace University. I need to finish that post up. FPU did wonders for our life! It is why we were able to manage our money enough to go to seminary. I recommend it for EVERYONE!