Most of us have been badly shaken by the tumultuous events on Wall Street in recent weeks. If you have an IRA or some kind of retirement plan, no doubt you are licking your wounds. You may even be fearful. I understand. I have experienced those apprehensions myself.
But we need to remember that fear is always the enemy of faith. The financial markets are his. The world is his.
Here is something else to remember: God often uses adversity for his greatest blessings — in several ways in this case. Christians are called to do the best things in the worst of times.
Above all, remember this: God is on his throne. Maybe the "eat, drink, and be merry" attitude of Americans needed a little adjustment — as does the spiritually casual attitude of the church.
Accounting for disaster
The near collapse and buyout of Fannie Mae and Freddie Mac are prime examples of Washington corruption. For at least a decade, a few brave politicians have sought to reform these quasi-governmental behemoths, only to be beaten back by political powerbrokers. Why? Because, as they say, money talks.
So while the politicians were busy padding their cozy little nests, the chickens have come home to roost.
The first step in the cleanup is the massive $700 billion plan proposed by Treasury Secretary Henry Paulson and passed by the Senate Wednesday night. Of course the people who are steering this plan through Congress are the very characters who brought us this crisis. And they are already looking for political and financial goodies they can hang on to the plan.
I have got a better idea. Those who steered Fannie and Freddie into the ground should return to the taxpayers their ridiculous compensation. And if there was criminality involved—either with ...1