Foreclosure Ministry
Posted by Tom McFeely
Friday, April 24, 2009 8:16 AM
Clergy at interfaith rally about foreclosures in Washington, D.C., last November. (CNS)
“Father John Lasseigne has never owned a home, but he’s become one of the key saviors for those who face losing their house. As banks move in to take over homes in foreclosure, this priest is stepping in to stop them.”
That’s how a CNN article posted yesterday, entitled “Priest becomes savior in foreclosure crisis,” describes how Father Lasseigne, an archdiocesan priest in Los Angeles,... READ MORE
Filed under financial crisis, foreclosures
The Pope Stands With the Poor
Posted by Tom McFeely
Wednesday, April 01, 2009 4:27 AM
People stand outside Amadou Ahidjo Stadium in Yaounde, Cameroon, as Benedict celebrates Mass there March 19. (CNS/Reuters)
On Monday, Pope Benedict XVI wrote to British Prime Minister Gordon Brown about the upcoming G-20 economic summit in London.
His message: Place the poorest of the poor at the very center of this week’s discussions by world leaders about the global financial crisis.
“The London Summit, just like the one in Washington in 2008, for practical and pressing reasons is limited to the convocation... READ MORE
Filed under benedict xvi, financial crisis, gordon brown
What AIG’s Greed Teaches Us
Posted by Tom McFeely
Wednesday, March 18, 2009 8:21 AM
It teaches that the Catholic Church’s balanced view of the merits and flaws of corporate capitalism is the right one.
In contrast to this balanced Catholic view, conservative Protestantism has been mostly mute in the past about problems like corporate greed. So notes Houston Baptist University political scientist Hunter Baker in a commentary posted here at the First Things... READ MORE
Filed under business ethics, financial crisis
The Right Kind of Banker
Posted by Tom McFeely
Wednesday, February 25, 2009 10:20 AM
Applause for Jayne and Leonard Abbess (front row center) during President Obama's speech. (Reuters)
In his address last evening to Congress, President Barack Obama singled out Miami banker Leonard Abess Jr. as an example of the kind of corporate leadership America needs.
Why was Abess singled out? For his extraordinary decision to give $60 million from the proceeds he received when he sold his majority interest in Miami-based City National Bancshares last November to his tellers, bookkeepers,... READ MORE
Filed under barack obama, financial crisis
The Morality of Mortgage Relief
Posted by Tom McFeely
Monday, February 23, 2009 8:47 AM
(CNS)
Last week, President Barack Obama announced his $75-billion plan to help mortgage holders at risk of default because of the economic downturn and the global financial crisis.
Will the plan succeed? And is the mortgage relief plan, and the other elements of the federal economic recovery plan, based on sound moral and economic principles?
To get an informed opinion about these matters, the Daily... READ MORE
Filed under barack obama, financial crisis, mortgage relief plan
Good and Bad Capitalism
Posted by Tom McFeely
Tuesday, February 17, 2009 12:11 PM
Stockbroker in Mumbai, India, contemplates the global market crash last September. (CNS/Reuters)
President Barack Obama will sign into law today the $787-billion economic stimulus bill passed last week by Congress.
Debate continues about the merits of the legislation, in terms of whether it will adequately address the damage caused by the global credit crisis.
But here’s something that shouldn’t be a matter of debate: That the crisis has highlighted the truth of the distinction Pope... READ MORE
Filed under capitalism, centesimus annus, financial crisis, john paul ii
Prosperity Gospel Problems
Posted by Tom McFeely
Tuesday, January 27, 2009 1:26 PM
'Prosperity' pastor Joel Osteen
2009 is shaping up to be a very lean year for some Pentecostal adherents of the “Prosperity gospel.”
According to Vancouver Sun religion writer Douglas Todd, the Prosperity gospel’s claim that a strong faith automatically will translate into material abundance induced some who subscribed to it to make risky investments.
Many of those investments have now gone sour in the wake of the... READ MORE
Filed under financial crisis, greed, prosperity gospel
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