Archive for September 22nd, 2008


I do not have much knowledge about finance, either on the personal or the international level. But I do have certain instincts, which time has proven to be trustworthy.

Thus, years ago, when we were shopping for a house, a realtor told us that we could buy a much bigger and spiffier home if we agreed to a variable rate mortgage. I’m pretty stupid about money, like I said, but my reaction to this was “Huh? Why in the world would I sign a contract when I ultimately don’t know the terms?” We bought an affordable home at a fixed rate, and time has proven us the wiser.

I am just as dense about international finance, and I have no idea what, if anything, the federal government should be doing about the ongoing financial crisis, though those instincts are going haywire.

I am, however, struck by a couple of things.

First, the incredible irony of this unprecedented bailout being touted by the very voices who for thirty years or so have been crowing about the magical market, the invisible hand, the amazing self-correcting perpetual motion economic miracle machine.

Second, I wonder about all those who became fabulously wealthy on the way to this debacle. You know, the CEOs and other executives who brought home (literally) ungodly amounts of mammon. If the government is going to rescue their corporations, ought it not on the way seize all savings, assets and properties of those who formed or tolerated the policies that brought about the disaster? Isn’t it only fair that those who have lectured us for all these years about personal responsibility suffer for their actions? Shouldn’t those who claimed that the pursuit of greed would contribute to the common good now forfeit their ill-gotten gains, now that that has proven to be a lie?

Daniel Nichols

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Prayer Request

[note: I just saw this in the comments on a previous post and am giving it its own post for obvious reasons. –mh]

Kev Hall, whom some of you may know of as an orthodox Catholic active on behalf of peace, asked for urgent prayers for his daughter who was injured in a car accident. His message follows:

My wife Maggie and our 13-year-old twins were in a car accident Wednesday night. Maggie and Ethan are fine but our red-headed daughter Natalia (”Tally”) is in a coma (critical condition) at the pediatric intensive care unit at All Children’s Hospital in St. Petersburg, FL. She has numerous injuries but, thank God, is stable with many many positive signs.

Please please please PRAY for our precious daughter Tally. With all my heart I thank you for your prayers.

Thomas Storck

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