Cheer Up; Things Are Going To Be Awful!
Bad enough that stock holders have suffered significant losses this year in their holdings but the news from Wall Street this past week brought new disgust. In fact, there were so many stories to examine and offer spiritual insights, it seems more appropriate to just list them and you could write the moral lessons yourself:
- Bernie Madoff is arrested for bilking $50 billion from investors
- John Thain, current CEO of Merrill Lynch asks his board for a $10 million bonus since MER stock has only dropped from 60 to 12 and it could have gone to zero
- Mr. Thain changes his mind and decides to ask his board to forget his request
- All of the top executives at Merrill Lynch decide to forego any bonuses after this public dialogue takes place between Thain and the board
- GM, Ford, and Chrysler exec’s beg the US for funds but want to keep their airplanes
- Executives from the Financial companies wonder if they will have to give up their airplanes
- Unemployment, foreclosures, and defaults are at all time record highs
- Economy could lose 3,000,000 or 4,000,000 more jobs before this recession is over
- Illinois Gov Blagojevich brings “pay to play” to a new level of ignominy
- CitiGroup will likely need $300 billion alone to restore the company’s liquidity
I wish that this list could be limited to just ten (10) items but even I have a hard time digesting more than ten at a time. Even though Christians are better equipped to handle these events, you will understand how this type of environment still turns all of our stomachs with disgust and contempt. There are thousands of wonderful, honest, and upstanding financial advisors who are working thru this with their clients. Understand they are human too and cannot help finding these times difficult to process. But we are spoiled in our trust of others because we serve a God who never breaks promises and never fails!
John 16:33 (RSV) “I have said this to you, that in me you may have peace. In the world you have tribulation; but be of good cheer, I have overcome the world.”
Monday Morning Message Sent 12/15/08
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