Stormy Financial Season

With all the events of this week, it's hard not to lose faith in our capitalistic country. And therein may be the problem......putting faith in capitalism and not The Creator.
Institutions, i.e. Lehman and AIG, are made up of 'fallen' men. We are all fallen and greed is always in our midst. Save the hand of God on a person's life that person will inevitably choose from a selfish heart. And in this case, "How much money is enough?"....just a little bit more.

Bill O'Reilly reminds us of how this greed can corrupt. He writes:

"Once again the federal government has left Americans in a precarious state as a terrible storm is passing through the U.S. economy. Like Hurricane Katrina, some folks thought the government could keep them from harm, but, as in New Orleans, things have gotten out of control quickly as bad housing loans have shredded the economy.

Christopher Cox, the head of the Securities and Exchange Commission, knew for perhaps a year that some large financial and insurance companies were buying risky housing loans, hoping to make a quick buck on consumers paying mortgage interest. But instead of issuing strict warnings against such irresponsible business moves, Cox sat in his Washington office and fiddled.

Unlike Cox, most investors in companies like AIG and Merrill Lynch did not know that bad loans were becoming part of their portfolios;"... (read more)



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