Boardroom and Bedroom
Posted by Tom Hoopes
Saturday, October 11, 2008 5:00 AM
I see London,I see France … (AFP)
“Ironically, like ‘safe sex,’ safe speculation has proved to be an illusion.”
So concludes Angelo Matera of Godspy in his post “Thinking Catholic: European leaders blame crisis on ‘speculative capitalism.’”
He says Europeans were suckers for easy subprime mortgage profits, just like Americans, and with the same result. But he credits Europe’s “Catholic roots” with giving Europeans a better... READ MORE
Filed under godspy, markets, wall street crisis
The Only Real Treasure
Posted by Tom McFeely
Monday, October 06, 2008 6:56 AM
German trader watches as the Frankfurt stock exchange falls today to a two-year low. (AFP/DDP)
Stocks slumped today in Europe and in early trading in the United States as the global financial system continues to be battered by bank failures.
Addressing the Synod of Bishops this morning in Rome, Pope Benedict XVI said, “We see it now in the collapse of the great banks that money disappears, it’s nothing.”
The Pope alluded to Christ’s reference in Matthew 7:26 to “a house built on... READ MORE
Filed under benedict xvi, synod, wall street crisis
Bailout Package Passes
Posted by Tom McFeely
Friday, October 03, 2008 3:01 PM
President Bush signs Wall Street bailout bill. (AFP)
The House of Representatives today voted 263-171 in favor of a $700-million bill to shore up the American financial system.
The Senate passed the bill on Wednesday. Immediately after the House vote, President George W. Bush signed it into law.
The law authorizes the Treasury Secretary to purchase up to $700 billion in non-performing loans from financial institutions to help revive the... READ MORE
Filed under wall street crisis
The Virtuous Marketplace
Posted by Tom McFeely
Wednesday, October 01, 2008 6:58 PM
Sen. John McCain enters the Capitol Oct. 1. (AFP)
As the U.S. Senate started debating its Wall Street bailout bill this evening, some suggest only moral repair can truly solve America’s debt crisis.
In a commentary published Oct. 1, Acton Institute for the Study of Religion and Liberty board member David Milroy argues that free markets require personal virtue to function effectively.
But virtue has been in short supply in Wall Street... READ MORE
Filed under senate, wall street crisis
Cardinal: Politics Needs God
Posted by Tom McFeely
Tuesday, September 30, 2008 3:45 PM
Cardinal Tarcisio Bertone. (CNS)
Exclusion of God and religion from public life has contributed to a host of contemporary social problems — including the current financial crisis.
That’s the assessment delivered by Cardinal Tarcisio Bertone, the Vatican’s Secretary of State, in a Sept. 30 speech at a conference in Rome sponsored by the Aspen Institue.
Discussing the relationship of politics and religion in the age of... READ MORE
Filed under politics, vatican, wall street crisis
Morals and the Markets
Posted by Tom McFeely
Tuesday, September 30, 2008 9:18 AM
President Bush speaks Sept. 30 about the financial crisis. (CNP)
There’s no quick end in sight for the Wall Street crisis.
But as Washington wrestles with approving a $700-million bailout package and stock prices see-saw dramatically, the U.S. bishops have offered prayers — and a call for a moral approach to resolving the mess.
In a letter to Congress and the White House, Bishop William Murphy of Rockville Centre, N.Y., has highlighted several areas to... READ MORE
Filed under u.s. bishops, wall street crisis
Bailout Bill Stalls
Posted by Tom McFeely
Monday, September 29, 2008 4:48 PM
(KRT Illustrations)
Only hours after President Bush hailed a bipartisan agreement, the U.S. House of Representatives rejected a bill providing up to $700 billion to the battered U.S. financial system.
Speaking at the White House this morning, President George W. Bush called the bailout bill “an extraordinary agreement to deal with an extraordinary problem,” CNN reported.
Bush’s initial bailout proposal last... READ MORE
Filed under congress, economy, george bush, wall street crisis
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