Wall Street Mess and the Gospel

[MikeWaters]

Clearly, we know what responsible living is, as defined by the gospel. We also know what responsible banking and investment is. And when you stray from those things, you may be living high on the hog for a while, but eventually the day of accounting comes, and there is no relief, no succor.

The thieves on Wall Street are little more than fallen apostates who thought they could do it their own way, and didn't have to follow the established principles.

He who can hear, let him hear.

[SeattleUte]

Originally Posted by MikeWaters

Clearly, we know what responsible living is, as defined by the gospel. We also know what responsible banking and investment is. And when you stray from those things, you may be living high on the hog for a while, but eventually the day of accounting comes, and there is no relief, no succor.

The thieves on Wall Street are little more than fallen apostates who thought they could do it their own way, and didn't have to follow the established principles.

He who can hear, let him hear.

What horseshit.

[MikeWaters]

Originally Posted by SeattleUte

What horseshit.

The fundamental problem in this mess is people lied.

Mortgage sellers lied to customers. Customers lied to the mortgage brokers about their income. The mortgage brokers then lied to the businesses they sold the mortgages to. Then the mortgages were bundled and sold as securities--the sellers of these lied. And so on.

You live the gospel, you live within your means, a frugal honest Christian life, then we are not in this mess.

[SeattleUte]

Originally Posted by MikeWaters

The fundamental problem in this mess is people lied.

I guess I missed the article of faith that said, "We believe in truth."

[SoonerCoug]

Originally Posted by SeattleUte

I guess I missed the article of faith that said, "We believe in truth."

Isn't this close enough?

“we believe in being honest, true, chaste, benevolent, ..."

[TripletDaddy]

The Gospel is based on the premise that we are all debtors, unable to fully pay our own debts.

There needs to be some justice, but also some mercy.

Also, these massive companies that are going under.....innocent people are losing their jobs. Everyone paints with broad strokes, as though every single AIG employee was in on the fix. Arthur Anderson Houston office brought down the entire firm...and even then, the work of a relative few. Similarly, lots of people here are being hurt by the actions of others.

The whole economy is in a downturn and many industries have been affected.

It will benefit us all when this is behind us.

[MikeWaters]

Originally Posted by TripletDaddy

The Gospel is based on the premise that we are all debtors, unable to fully pay our own debts.

There needs to be some justice, but also some mercy.

Also, these massive companies that are going under.....innocent people are losing their jobs. Everyone paints with broad strokes, as though every single AIG employee was in on the fix. Arthur Anderson Houston office brought down the entire firm...and even then, the work of a relative few. Similarly, lots of people here are being hurt by the actions of others.

The whole economy is in a downturn and many industries have been affected.

It will benefit us all when this is behind us.

you forgot a few platitudes. try again. F.

[TripletDaddy]

Originally Posted by MikeWaters

you forgot a few platitudes. try again. F.

Perhaps when you have had a "real job" (as you put it) longer, you will better understand the importance of a strong economy.

It is interesting that you accuse me of using platitudes when, as of now, it sounds like your biggest professional concern (besides wasting other people's grant money) is whether your patients have insurance. As a psych, I am not sure how you, your work, or anything else is affected any of this. You claim to be of modest means, live in a bad area, on a shoestring budget, etc.....nothing wrong with any of this, but at the same time, no wonder you want to dance on the financial grave of everybody else. Your platitudes reek of jealousy (maybe toss in some upward pride for good measure).

Since you are still a young sapling in the great forest of capitalism, why don't you do everone a little favor go sit with the other acorns until this whole mess is sorted out.

[MikeWaters]

Originally Posted by TripletDaddy

Perhaps when you have had a "real job" (as you put it) longer, you will better understand the importance of a strong economy.

It is interesting that you accuse me of using platitudes when, as of now, it sounds like your biggest professional concern (besides wasting other people's grant money) is whether your patients have insurance. As a psych, I am not sure how you, your work, or anything else is affected any of this. You claim to be of modest means, live in a bad area, on a shoestring budget, etc.....nothing wrong with any of this, but at the same time, no wonder you want to dance on the financial grave of everybody else. Your platitudes reek of jealousy (maybe toss in some upward pride for good measure).

Since you are still a young sapling in the great forest of capitalism, why don't you do everone a little favor go sit with the other acorns until this whole mess is sorted out.

you're just pissed because I am drinking from your shake.

[TripletDaddy]

Originally Posted by MikeWaters

you're just pissed because I am drinking from your shake.

I'm a man of the people, brother. I'd be the first person to buy you lunch. I have no moral qualms with this market bailout because I dont view this as a moral issue.

Like we learned in the Godfather....it's not personal. It's business.

Well, rather then clinging doggedly to this "teach them all a lesson" mentality, let's just fix this mess and move on. Throw people in jail if you want, no problem. Suing Kenneth Lay did not and will not stop corporate malfeasance, but it soothes the stupid masses. Likewise, with no bailout, what is it that we learn? Loads of people lose their home, thousands of innocent people lost their jobs, the economy sucks for everyone, credit tightens, raises suck, etc..and there is a general malaise over consumer confidence. What fun is that?

I just get a kick out of your limited and inexperienced economic view. Whether the economy tanks or not, you will still be sitting in your office on campus, wearing your white coat, hoping your patients have insurance. You have no revenue goals. You arent in charge of clients' money, investments, companies, etc. You don't do deals. Other than maybe your 401K and some mutal funds, you likely have zero direct contact with anything on Wall Street.

This doesnt make you a bad person. Just makes your opinions on the matter somewhat ridiculous.