Another "Stench" On Wall Street

My last Blog I wrote about the stench coming from Chicago and now we have a stench coming from New York City.

What I am about to write about surpasses anything that we have heard about in our country’s business community.

I think God is shaking the American tree and all the bad fruit is falling to the ground. The tree shaking started back in the 70’ and 80’s revealing the corruption in some of America’s religious institutions. Sex scandals, thievery, lying, fraud, are some of the words used when the fruit started hitting the ground.

God started with his church and now He is exposing the business community along with our government institutions for all of the lying, fraud, pandering, and corruption that has entered in. So far it hasn’t made the front pages of our major newspapers (and their turn is coming) but this one so far takes the cake!

After graduating from law school back in the early 60’s Bernard Madoff started Bernard L. Madoff Investment Securities, which we now find has been running a con game, a giant Ponzi scheme, a type of fraud in which earlier investors are paid off with money raised from later victims - until no money can be raised and the scheme collapses.

Madoff has bilked his investors out of over $50 billion dollars. The house of cards came tumbling down Friday because he was not able to keep up paying off his older investors with the money created from his new investors. With the stock market down it all tumbled on Friday taking thousands of people and institutions with him including his very own family.

For years, investors, including rivals and government regulators all wondered how Bernard Madoff worked his magic of continually yielding over 10% returns on investments even when others on Wall Street couldn’t even come near it. Why wasn’t his suspected con game not uncovered sooner by government regulators?

The Securities and Exchange Commission, which investigated Madoff in 1992 but cleared him of wrongdoing, appears to have been completely surprised by the charges of fraud. A Boston whistle blower has claimed that he tried to alert the SEC to the scheme as early as 1999, and Barron's weekly newspaper raised questions about Madoff's returns and strategy in 2001, although it did not accuse him of wrongdoing.

Despite all the red flags, many hedge fund companies kept promoting Madoff's funds to other investment houses and individuals. Many prominent Jewish families in the New York and Miami areas have lost everything. Recently, the Japanese firm, The Nomura Group, one of the largest global investment banking and securities firms began soliciting investors for Madoff internationally. One hedge fund advisory firm alone, Fairfield Greenwich Group, said on Friday that its clients had invested $7.5 billion with Madoff.

Victims of the scam included grey-haired grandmothers in Florida, investment companies in London, and charities and universities across the United States. The Wilpon family, the main owners the New York Mets, and Yeshiva University both confirmed that they had invested with Madoff, and a Jewish charity in Massachusetts said it would lay off its five employees and close after losing nearly all of its $7 million endowment. Wealthy individuals and other money managers entrusted billions of dollars to funds that in turn invested in his firm, based on his reputation and reported returns.

Now thousands, possibly tens of thousands of investors confront losses that range from serious to devastating. All the pain and suffering because of one man’s greed and corrupted heart!

Stay tuned and let’s see what God’s Word has to say.

Psalm 14:1
"Fools (those who are morally deficient) say in their hearts, "There is no God." They are corrupt, their deeds are vile.”

Proverbs 10:23
"A fool finds pleasure in evil conduct, but a man of understanding delights in wisdom."

Proverbs 11:29
"He who brings trouble on his family will inherit only wind."

This story only highlights the condition of a man's heart. Mr. Madoff has lived with this lie for over 40 years. When sin is allowed to harden the heart like a stone then it loses its tenderness to hear the voice of right and wrong. Through the washing of the blood of Christ Jesus and the confession of sin the heart can be restored. May God have mercy on his soul and that he will find the One and only restorer of hearts, Jesus Christ! Please pray for Bernard Maddoff, his family, and all of those who have been devastated by his con game.

One last thought from Matthew 16:26, "What good will it be for a man if he gains the whole world, yet forfeits his soul? Or what can a man give in exchange for his soul?"

THE CHICAGO WAY

Something Has Been Stinking in Denmark! Ooops! Illinois! The stench of government corruption in the heartland has permeated itself to the point that the smell may follow the President-elect to 1600 Pennsylvania Avenue. Don’t forget the mayor of “Chicagoland” not only runs the city but the State of Illinois. He is the political king of Illinois and is in the know.

I don’t know if you have ever smelled someone who has been around a bonfire but when you get near them you can smell the burnt wood. It “kind of sticks to ya” knowingly or unknowingly and is especially noticeable to those who have not been around the fire.

For mayor Daily, President-elect Obama, or Congressman Jackson to deny that they were not aware of the goings on in the governor’s office is beyond belief. Daily, Obama, and Jackson come out of the same mould of corrupt Windy City politics. Now, we find Congressman, Jessie Jackson, Jr., was the 5th person heard talking to the “Gov” and something about $500,000 was mentioned by him or one of his aids on a FBI wiretap of the governor’s office phone seeking the nod to fill the vacant Obama Senate seat.

On November 10th there was a 2-hour+ marathon telephone conference bugged by the Feds between Governor Blagojevick’s office and Obama politico’s in DC. It is interesting that Valerie Jarrett was Obama’s first choice for the nomination for his Senate seat and within hours of the big meeting she said she was no longer interested. While we are at it former Illinois Rep. Rahm Emanuel, to be one of the most powerful unelected officials in the White House, who runs interference for Obama, is part of the Chicago Way.

Here is an interesting little tidbit if you already don’t know. All one has to do is connect the dots and follow the money and you find that President-elect Obama’s ties to arrested Illinois Democratic Governor Rod Blagojevick is also connected to Chicago slum land lord and convicted felon Tony Rezko. You see Resko was the political godfather for both Obama and Blagojevich, helping both to rise in the stench and corruption of Chicago and Illinois politics. President elect Obama has credited Rezko with helping with his political career. Of course this was said before he ran for the office of the President.

Evidence that things are so bad in Illinois, Blagovjevich and his chief of staff, John Harris, were bold enough to try selling President-elect Barrack Hussein Obama’s vacated Senate seat to the highest bidder according to a 76-page FBI affidavit released this past Tuesday.

U.S. Attorney Patrick Fitzgerald calls the effort to barter the seat the “most sinister and appalling” of a long list of accusations against Blagojevich and Harris. When there is a Senate seat vacancy the respective state governor is responsible for naming a replacement.

What proof do we have that Obama has ties to Rezko? Briefly, here are a few that are public.
-1990 Rezko offered Obama a job while he was still at The Harvard Law School.
-1995 billed 32 hours of work to Woodlawn Preservation and Investment, a low income housing project Rezko was partnered with.
-1995 Rezko was Obama’s second largest contributor when he ran for an Illinois state Senate seat.
-1997 two Rezko companies contributed $2,000 to Obama’s political operation.
-1998 Rezko contributed about $450.00 in food to Obama’s campaign.
-2002-2003 Rezko was one of Obama’s biggest contributors when he ran for his current Senate seat in addition Rezko was a member of Obama’s campaign finance committee. In June 2003 Rezko had a fund-raiser for Obama at his home. Rezko helped raise as much as $250,000 for Obama run for the Senate in 2003.
-2005 Obama purchased a house for $1.6 million beside an adjacent lot Rezko’s wife paid $625,000 for and both deals closed on the same day with the same bank. Later Rezko sold 1/6th of the lot to the Obama’s for $104,500. A fence was constructed to separate the property and Obama paid for the maintenance on both properties.
-2007-2008 Rezko helped Obama’s presidential campaign raise over $150,000 while he was under a Federal investigation. Obama’s campaign eventually gave the money to charity.

I can go on the same way with Rezko’s ties to Blagojevich but I don’t have the room or time and I am sure you don’t want to read it anyway.

So what does all of this mean? It means that Obama, Blagojevich and Rezko are closely associated. Rezko is in prison and if proven guilty Blagojevich will be there with him. So far this is two out of the five that comes out of the same Chicago political mould and the investigation is on-going.

Something is stinking in Denmark! Oooops I mean Illinois! Oooooops in Chicago! Ooooooops maybe 600 Pennsylvania Avenue!

Anyway it has always been like that hasn’t it? After all, it’s the Chicago Way. For the sake of the White House and our Country I hope not.

Here are some thoughts from The Teacher.

Ecclesiastes 10:1-2, 5-6

1 As dead flies give perfume a bad smell,
so a little folly outweighs wisdom and honor.
2 The heart of the wise inclines to the right,
but the heart of the fool to the left.
5 There is an evil I have seen under the sun,
the sort of error that arises from a ruler:
6 Fools are put in many high positions,
while the rich occupy the low ones.

Ecclesiastes 11:13-14

13 Now all has been heard;
here is the conclusion of the matter:
Fear God and keep his commandments,
for this is the [duty] of every human being.
14 For God will bring every deed into judgment,
including every hidden thing,
whether it is good or evil.

I need not say any more! Blessings!!!

Extremism of the Unusual Kind

There are a number of places found in the “Land of the Free” where we find extremism of the unusual kind. For example in San Francisco you can be a card carrying pot smoker and inhale cannabis right on the streets in full public view and not be arrested by the local john arms. What started as medical marijuana is now found throughout the city. The homeless cruse the streets and public parks in groups and the gay community can be found day and night practicing their art in public places. Walking the streets and public parks of San Francisco one has to be careful not to step on a used needle or have your child pricked by one of them. It appears the general community has been worn down over the years and has accepted what is going on in their town. Sodom and Gomorrah have nothing on the city by the bay.

Then we have another kind of extremism found in the one and only “Detroit City.” Here we find a “cradle to grave mentality” that has entrenched itself deep into the soul of the community by both government and private enterprise. Loss of jobs, people fleeing, high unemployment (9.7%), violent crime 5x and property crime 2x the national average, corruption at all levels, schools in shambles (61% graduation rate), and governmental regulations are just some of the signs of the illness that stifles freedom, es·prit de corps, productivity, competition, and the free market.

As you know the “Big Three” the last time in Washington, were ridiculed for asking for $25 billion without a plan on how they were going to use it. The three CEO’s travel to Washington from Detroit could have been a public relations coup, but turned into a PR nightmare when they were asked how they traveled and they replied by saying private corporate jets. They left DC with no money and their tails between their legs. But don’t let that fool you. They are back this week driving to DC with a plan in hand and they will get your money.

Many in the Congress are beholding to the unions. The Big Three’s trip to Washington this week will strike gold in “them there halls.” Even if the $25-plus-billion only delays the inevitable, they will get the money to save the union jobs. If they fail as businesses, the finger will be pointed at management and not the union and certainly not the Congress or the Administration.

I have been to downtown Detroit a number of times and it is a disaster. Liter everywhere, potholes in the streets, vagrants and homeless on street corners and in the boarded up entrances to abandoned buildings. Walking the streets the stench of human urine permeates the air. The spirit of the city is downcast and fatalistic.

The State of Michigan has been in a serious recession for a number of years. Businesses are closing or moving out of the state to greener pastures where they are not being taxed into the ground. Michigan loses more people then it gains (25% fewer jobs since April 2007).

Government’s answer is always more taxes, more programs, and more regulations. The auto industry has sold its soul to the union in order to keep the peace. Over the years the Big Three have provided more money for hourly wages, medical and retirement benefits, and layoff benefits. They have been hamstrung by their own doing, as well as, by the government.

How about $73 per hour (It costs over $73 per hour on average to employ a union auto worker, according to University of Michigan at Flint economist Mark J. Perry) or $1,500 in legacy cost for each unit coming off of GM’s production lines (GM CEO, G. Richard Wagoner, has noted that each of his company’s vehicles produced in North America includes an average cost of $1,525 in health care benefits, and asserted that GM is the world’s largest private provider of health care benefits) or try getting 95% of your wage if you are laid-off, and what about those long vacations?

Just to give you an idea how bad things are the Wall Street Journal recently reported the following: Ford owes more than $26 billion to the UAW Trust Fund, with $6.3 billion due at the end of 2009. Ford keeps asking the UAW for payment delays-the clock is ticking for this time-bomb. As time moves on it can only get worse as the number of employees retire and the industry shrinks with less working workers.

In both examples of extremism cited above both are fatal to the people and to the society. Maybe it’s time to bite the bullet; maybe it’s time for change. Here are a few words of Solomon the Teacher, King David’s son, the wisest man in the world (935 BC) from Ecclesiastes 3:1-2, 6-7, 16-17.

A Time for Everything

1 There is a time for everything, and a season for every activity under the heavens:
2 a time to be born and a time to die, a time to plant and a time to uproot,
6 a time to search and a time to give up, a time to keep and a time to throw away,
7 a time to tear and a time to mend, a time to be silent and a time to speak,

16 And I saw something else under the sun: In the place of judgment-wickedness was there, in the place of justice-wickedness was there.
17 I said to myself, "God will bring into judgment both the righteous and the wicked, for there will be a time for every activity, a time to judge every deed."

In Ecclesiastes 12:13 Solomon says, “Fear God and obey His commands, for this is the duty of every person.”

It Tis the Season for Double-mindedness

Since the election I have heard a lot things being said by folks who make the news that leads me to believe they are conflicted with double-mindedness. We are told one thing and then we hear the same person denying they said it in the first place. Or we have been told one thing and the person then says something different at a different time in the same day. This is what is referred to as being double-minded.


One of many examples of double-mindedness found this week in the news is Vietnam-era radical and terrorist, Bill Ayers, professor at the University of Illinois at Chicago. In an interview Friday morning on ABC's "Good Morning America," Ayers distanced himself from President-elect Barrack Hussein Obama. Ayers said — for example — the two didn't even meet before Ayers hosted an event in 2001 at his home for Obama when Obama was running for his first public office in the Illinois State Senate. Ayers says he knows President-elect Obama no better than thousands of other people in Chicago.


In the new release of his 2001 memoir 'Fugitive Days,' an afterword Ayers refers to the two (He and Obama) as "neighbors and family friends."


Ayers was a prominent member of the Weather Underground, that bombed the Capitol, the Pentagon and the New York City Police Department. He and his wife were arrested, then spent a decade on the lam, according to the Chicago Sun-Times.


Ayers served alongside Obama between December 1999 and December 2002 on the board of the not-for-profit Woods Fund of Chicago. That board met four times a year, and members would see each other at occasional dinners the group hosted.

Ayers and Obama also interacted occasionally in their roles with the Chicago Annenberg Challenge, a not-for-profit group charged with spending tens of millions of dollars it obtained through its affiliation with a school-improvement foundation created by late Ambassador Walter H. Annenberg. Obama chaired the Chicago Annenberg Challenge's board of directors. Ayers served on the Chicago School Reform Collaborative, which made recommendations to the board on which organizations should get grants. The groups worked on school-reform efforts between 1995 and 2000.


One other interesting comment by Ayers on Friday's morning news show interview is his denial he was a domestic terrorist. Ayers stated that, "It's not terrorism because it doesn't target people, to kill or injure."


This seems to be the season for a lot of double-mindedness. We are warned by Paul in 2 Timothy Chapter 3 (paraphrased): But mark this: There will be terrible times in the last days. People will be lovers of themselves, lovers of money, boastful, proud, abusive, disobedient to their parents, ungrateful, unholy, without love, unforgiving, slanderous, without self-control, brutal, not lovers of the good, treacherous, rash, conceited, lovers of pleasure rather than lovers of God— having a form of godliness but denying its power. Have nothing to do with them. They are loaded down with sins and are swayed by all kinds of evil desires, always learning but never able to acknowledge the truth. These men oppose the truth—men of depraved minds, who, as far as the faith is concerned, are rejected. But they will not get very far because, as in the case of those men, their folly will be clear to everyone.


James 1:7-8 tells us that a man should not think he will receive anything from the Lord; he is a double-minded man, unstable in all he does.


Think about being double-minded. Do you say one thing and do another? Do you say one thing and then later say something different? Don't be a Bill Ayers!

Change, Change, Change!

I was disappointed with the Presidential Election yesterday and it is obvious the American people spoke clearly that they are looking for change. In my previous Blogs I have speculated on what those changes may entail.

Since I awoke this morning contemplating on what can I do now and in the coming days the following Scripture keep coming to my mind.

Proverbs 21:1
1 The king's heart is in the hand of the LORD; He directs it like a watercourse wherever He pleases.

This Scripture verse and many more speak of who is ultimately in charge of the creation and the created. Now I believe in free will and the freedom to exercise it. God is not in the business of violating our free will yet Proverbs 21:1 states that He directs the heart of the king like a watercourse wherever He pleases. How can this be?

When human history comes to an end and the great judgment takes place no one will stand before God and accuse Him of not being fair and just. No one will accuse God of bending, changing, or forcing one’s own heart against his own will. If that were to happen then all could accuse God of not being just and therefore excusing us of our sins. In other words we could be found not guilty on a technicality. That will not happen. It goes against God’s character as revealed in the Bible and we could never ever trust Him even into eternity if He forced His will on us.

As the Apostle Paul teaches so clearly in I Timothy 2:1, "I urge that entreaties, prayers and petitions and thanksgivings be made on behalf of all men, for kings and all who are in authority, so that we may lead a tranquil and quiet life in all godliness and dignity."

As with a king, God can change our hearts with His love and grace. He can change our hearts through circumstances. He can change hearts through the prayers of His people. President elect, Barrack Obama, ran his campaign on “change” and the people responded with “change” by electing him the next President of the United States of America.

What can you and I do to facilitate change?
· Pray daily for President elect Obama to make the right decisions with discernment and that he would seek God in all matters
· Pray for His relationship with his wife and daughters
· Pray for his relationship with the Lord
· Pray for his protection, that of his family, and that of our nation
· Respect the office of the President
· Pray that the Lord will have His way with Barrack Obama

Change has been promised and change is on the way. Now let's grease the skids with prayer to help bring about change, Godly change.

PS: While we are at it we can also add Nancy Pelosi and Harry Reid to our prayer list.

And Some Call Him the "Messiah"

I believe this is the first time in a Presidential campaign that I have ever heard one of the candidates being called the "Messiah." I have heard the candidate himself make some jokes about it, but I have never heard him come right out and deny it. You'd better careful, you better be right, for the messiah has come to town. Sen. Barack Hussein Obama attracted an estimated crowd of 35,000 swooning followers as he spoke in Leesburg, VA this past week.

On October 9th the WorldNetDaily posted the following by Louis Farrakhan leader of the Nation of Islam about Presidential candidate Senator Barack Obama. Farrakhan says when Obama talks 'the Messiah is absolutely speaking." Last Spring when Barack spoke in Germany many European newspapers called Obama the Messiah.

According to the Websters Dictionary, the word mes·si·ah means "anointed." Definitions include: the expected king and deliverer of the Jews; a professed or accepted leader of some hope or cause.

In Matthew 24:4-5 Jesus warns us with the following words, "Watch out that no one deceives you. For many will come in my name, claiming, 'I am the Christ (Messiah),' and will deceive many.

Jesus confronts the Pharisees in Matthew 22 by asking them, "What do you think about the Christ? Whose son is he?" "The son of David," they replied. He said to them, "How is it then that David, speaking by the Spirit, calls him 'Lord'? For he says, " 'The Lord said to my Lord: "Sit at my right hand until I put your enemies under your feet." 'If then David calls him 'Lord,' how can he be his son?" No one could say a word in reply, and from that day on no one dared to ask him any more questions.

What do you believe about Jesus? If you believe, like Peter did, that Jesus is the Christ, the Son of the living God (see Matthew 16:16), could you give the reasons for this to people who might ask you (see 1 Peter 3:15)?

What do we look for in our leaders especially our President? We want to know what they are basing their decisions on, what governs their thinking. We also want them to be capable of the job entrusted to them.

If elected President, Barack Hussein Obama, says he will bring change. The most reliable indicator of the changes he will bring is to look at his past. With his election and the re-election of Nancy Pelosi in the House and Harry Reid in the Senate we could be looking at a very different America in a very short period of time.

If new Supreme Court judges are put on the bench changing the ideology of the Court we could see the following areas undergo major shifts or changes along with one party in power in the Congress:

• Same-sex marriage in all 50 States and all Territories


• Compulsory gender training in all public schools


• Adoption placements with homosexual couples nationwide


• Medical professionals would have to do compulsory abortions and artificial insemination


• Church buildings would have to be used for all wedding ceremonies


• Churches would lose their exemption to reject certain staff position applicants


• No student Christian activities at school either during or after school hours.


• No church meetings in public schools.


• Dismissal of "don't ask, don't tell policy in the military


• No Pledge of Allegiance to the flag in public schools because of "under God"


• Reversal of Partial Birth Amendment and all abortion restrictions


• Eliminate all restrictions on pornography in public libraries and schools


• Loss of gun ownership or heavy restrictions with new Second Amendment decisions


• Loss of or very limited home schooling availability


• Heavy handed enforcement of single provider government health care insurance


• Re-enactment of the "Fairness Doctrine"to eliminate or restrict conservative talk radio and TV programs


• Restrictions on Christian preaching, books, and education as it relates to same sex marriage as hate speech


• Continued price increases in energy cost as the US does nothing to keep up with demand domestically


• Union-ification of industries and business with no secret ballot which drivies up prices


• Massive budget deficits

And some call him the "Messiah."

We Work Hard for Our Money

We work hard for our money. All of our wages earned through the month of May each year goes to the payment of taxes at all levels of government from the local to the national. Americans are some of the most highly taxed people in the world. We work hard for our money.

Work is part of the fabric of our lives and we use it as a means of identifying who we are. If you ever hear a group of men talking to each other for the first time they usually get around to asking each other what they do for a living. Work becomes a way to identify who we are. If we become unemployed, our lives become a mess. Pressure comes to bear on the family and other relationships. Even if we don't do the right kind of work, we can become frustrated. Work and life go hand in hand.

In two weeks the American people will be going to the polls to elect a new president. I have spent a lot of time reading about the two candidates. One has had a public life for many years and it appears their are few new skeletons in the closet. The other candidate has had a very brief public life and has not been scrutinized by the main stream media to uncover any skeletons (which I believe they have avoided). Both are offering various tax cutting schemes that will effect the taxes we will be paying in the coming years and the amount of work we will have to perform to pay our tax bills. With the current financial crisis many will have to work way beyond their retirement in order to survive.

God's character is associated with work. God has been active in human history from the creation of Adam and Eve. 'All mankind will fear, they will proclaim the works of God and ponder what he has done.' (Psalm 64:9 NIV). The Psalmist tells us that men will tell the stories of God's acts which will cause them to worship Him. God is the God of history. His fingerprints are all over human history. He is in charge. The Psalmist's words remind us that our lives are under God's authority and control. It is God who is directing our circumstances.

As you march down the road of life in these trying times become aware of what God is doing in your life so that you can proclaim His works to others. Reflect on God's history with you. It is our life story being written from God's perspective. This raises an important question: Do you see your work as the hand of God written into your own history? Can you proclaim your work as God's action in your life? It's not about you, is it? Even work is about Him. Trust Him in the days ahead as He continues to write your life story. We work hard for our money.

Times Like This Where Do You Put Your Faith?

The best word in English that we can use in place of "faith" is trust. In these trying times to whom do you place your faith? In yourself, in your abilities, in a higher power, luck, or God. With the full blown worldwide financial meltdown in progress it won't be long and we could begin to see the consequences of this disaster touching you, your friends, family or neighbors. Just to name a few things we could experience:

• Loss of tax revenue to government will cause projects to be delayed or cancelled


• Corporate cutbacks and layoffs


• Business closings


• Inability to retire


• Reduction in government programs


• Churches, para church organizations, and other non-profits suffering from income loss

I hope we do not see a full fledged recession or worse. I can remember going through rough economic times as a small business owner during the Carter Presidency in the 80's. If I remember correctly unemployment was around 10% and interest rates were as high as 21.5%, outrageous personal, corporate, and capital gains taxes. The government officially announced that we were in a recession and it was like someone had flipped a switch and the economy light went out. It wasn't until the Reagan administration made some radical changes in the tax code did the economy begin to pull out of the doldrums. Since the Reagan years we have seen the longest period of economic growth ever experienced by a nation. Many young people today have no idea of what it is like to go through a significant economic down turn.

When God wants us to understand the mystery of suffering, He does not give us an intellectual argument – he gives us the story of Job. After losing everything God restored seven-fold what Job had lost. He has got it all – health, wealth and a loving family – but he loses everything. His friends tell him it is his own fault. He must have sinned or offended God. Job insists that he has not sinned. He questions God. He gets angry with Him. But through it all, he holds on to his belief that God is in control. He puts his faith (trust) in God. If you haven't read Job lately it might be worth taking your time to do so.

God eventually speaks to Job, but does not give him an answer. He just points out that these things are too big for Job to comprehend. And Job is satisfied – because he doesn't really want an answer. He just wants to know that God has not abandoned him. And in the final chapter of Job, God shows him that He is on his side. God reprimands his friends, commends Job and blesses him.

The message of the Bible is that we need to hold on to God in the bad times. As a believer there is no other answer. Of course, we should not let the good times hide Him from us either! Of course many people don't seek God or build on the personal relationship with Him during the good times. They run to Him only when they are affect by the bad times.

Job 42:10 says, "After Job had prayed for his friends, the LORD restored his fortunes and gave him twice as much as he had before".

The Book of Job is a wonderful story of loss, restoration, and faith!

Your Gold and Silver Have Corroded

Today's news continues with the world-wide financial crisis and now I hear that after Wednesday's NY Stock Exchange closing the mega insurance company AIG got another infusion of money from the US Treasury, to the tune of $39 billion. Those are the guys who had the $400,000 meeting days after receiving the $89 billion from the US Treasury I wrote about in a previous blog.

The book of James warns the fat-cat-city-types who get obscene bonuses: such as pop stars, football stars, Wall Street stars, Fannie Mae and Freddie Mac stars, and even AIG stars could be judged, especially if their wealth comes from exploiting others.

Riches are relative when compared with many in the world, to have clean water, food, clothes, a home, education, and access to medical care is to be very rich indeed. There’s nothing wrong with being rich. It's how we get the wealth and what we do with it that matters.

The Book of James gives us two warnings:

1. It won’t last. If we build our lives on material things we have a great shock coming when those things pass away.
   
2. James warns that if our wealth comes from the exploitation of others we will face the judgement of God.

James 5:1-3

Now listen, you rich people, weep and wail because of the misery that is coming on you. 2 Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days.

What do you think?

Are we as a nation paying the price for something that has been going on under our noses and we have said nothing? We have even participated in it. All was well as our home values skyrocketed year after year. We took advantage of those teaser mortgage rates and loans.; you know the no money down, low interest rate, no proof of employment kind. Things were so good we even bought houses and flipped them to make a quick buck.

It is interesting to note that Americans giving has stayed the same over the years and our personal debt has soared. As the Rev. Wright (Retired Pastor of the United Church of Christ Chicago) has been quoted as saying, "The chickens have come home to roost!"

If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land. (2 Chronicles 7:14)

Would we dare fast and pray as believers to save our nation?

The Love of Money

One week after the federal government bailed out American International Group Inc. (AIG), the company sent executives and their top producers on a $440,000 retreat to a exclusive California resort as the company tapped into a $85 billion loan from the taxpayers it needed to stave off bankruptcy.

About 80 people received $5,500 of royal treatment each from the use of the spa to playing the golf course. The retreat didn't include anyone from the financial products division that nearly drove AIG into the dust.

Documents released yesterday by the US House of Representatives Oversight Committee, which is examining the chain of events that caused the government to bail out AIG, disclosed that AIG executives hid the full range of its risky financial products from auditors as losses mounted.

It is difficult not to judge the leadership of AIG and the series of poor decisions they made over the years. I can't blame their top producers for attending an event that rewarded their top people for doing a great job. After all, if you were told if you are one of the top producers for the company and they will pay for a trip to a California resort, as well as, allow hob-nobing with the top executives as an incentive to produce, who wouldn't want to take advantage of it and attend, especially with all expenses paid? A great incentive reward!

However, it was poor judgement in timing on the part of the company decision makers to go ahead with the outing. The event has certainly angered many people and rightfully so. I can remember when I worked for the Xerox Corporation and they had similar incentive programs. If you achieved certain goals it resulted in a great trip with the wife to a plush resort. It was a perk that made all of the time spent on the job and away from the family worth it.

But company executives lied about the financial position of the company, therefore lining their pockets with money that was not rightfully there's. As usual money corrupts. This whole financial mess is about greed and the corruption of people by money.

Money is important and the Bible has a lot to say about it. Two of the passages I am reminded of as I learn about the AIG fiasco.

1 Timothy 6:10 states, "For the love of money is the root of all kinds of evil."

In Matthew 6:21, 24 Jesus says, For where your treasure is, there your heart will be also. No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and Money. "

Show Me the "Pork"

As everyone knows the so called "Bailout Bill" has been signed into law by President Bush. To get it to pass the US House of Representatives it contained a little "pork" to sweeten the pot and help it to pass.

The signed bill is over 447 pages greater and 100 billion dollars bigger and to think it started as a measly 3-page document and a paltry 700 billion dollars only a week ago. Does this tell us something about the bloating of government. Give them an inch and they will take a mile. It is our money that the Congress spends and promises on our behalf. While we waited for the plan to pass our Congress allowed us to stew a little while they added the pork. We are told it needed the "pork" to pass.

Here are some of the "pork provisions" in the law.

• The bill would raise the Federal Deposit Insurance Corporation's current insurance limit to $250,000 per account from $100,000.
• The FDIC also would receive temporary unlimited borrowing authority from the Treasury under the bill.
• Some 24 million middle-class taxpayers would get relief from a one-year fix that shields them from higher tax rates under the ATM (Alternative Minimum Tax).
• It extends tax deductions for state and local sales taxes and allows deductions for state and local property taxes and higher education expenses for taxpayers who do not itemize their tax returns.
• The bill includes $18 billion in tax breaks for clean and renewable energy by continuing production tax credits for wind and refined coal, as well as breaks for solar and plug-in electric vehicles.
• The bill includes extension of favorable business tax provisions, such as tax credits related to new markets and research and development as well as the tax treatment of costs for retail and restaurant improvements.
• The bill would require insurance plans that offer mental health benefits to offer them at the same level as medical-surgical benefits.
• The bill provides for exemption for excise taxes on certain wooden arrows designed for use by children.
• It allows for a more favorable tax treatment of income from litigation over the 1989 Exxon Valdez oil spill in Alaska.
• The bill also gives the Securities and Exchange Commission authority to suspend "mark-to-market" accounting standards to protect investors and the public interest. It also authorizes a study on the advisability of modifications to the practice, which has been blamed for billions of dollars of write-downs by financial services firms, eroding their balance sheets, as they struggle with elusive valuations in an illiquid market.
  

"The government proposal is more accurately described as a 'rescue plan' for the American consumer and taxpayer," said Ric Edleman this week who is listed by Barron's as among America’s 100 top financial advisors.

Visit Ric at http://www.ricedelman.com/.

New York Times article Pressured to Take More Risk, Fannie Reached Tipping Point

The time to be especially wise and dependent, not on ourselves, but on the Lord Himself is now. What does the Word of God have to say about the times in which we find ourselves?

Proverbs 1:20-33

Wisdom's Rebuke

Out in the open wisdom calls aloud, she raises her voice in the public square; on top of the wall she cries out, at the city gate she makes her speech: "How long will you who are simple love your simple ways? How long will mockers delight in mockery and fools hate knowledge?

Repent at my rebuke! Then I will pour out my thoughts to you, I will make known to you my teachings. But since you refuse to listen when I call and no one pays attention when I stretch out my hand, since you disregard all my advice and do not accept my rebuke, I in turn will laugh when disaster strikes you; I will mock when calamity overtakes you-when calamity overtakes you like a storm, when disaster sweeps over you like a whirlwind, when distress and trouble overwhelm you.

"Then they will call to me but I will not answer; they will look for me but will not find me, since they hated knowledge and did not choose to fear the LORD. Since they would not accept my advice and spurned my rebuke, they will eat the fruit of their ways and be filled with the fruit of their schemes. For the waywardness of the simple will kill them, and the complacency of fools will destroy them; but whoever listens to me will live in safety and be at ease, without fear of harm."

Renew your faith and trust in Him who loves and cares for you.

Who Is In Control?

The American economy finds itself in bad-straights and our government is telling us little other than their might be a meltdown of our economy if we don't do something very soon. Today the congress is to debate the 700 billion dollar bailout of the banking industry and vote on it later today.

Their is plenty of finger pointing these days and the blame can be spread around like a little child eating a peanut butter sandwich, the peanut butter is everywhere. Our government and the finance industry are at fault and we the taxpayer will be charged with trying to fix the problem, if it can be fixed.

This morning I heard on the radio a plausible explanation of what happened. The high risk mortgage paper was mixed with low risk paper like a garden salad. The lettuce leaves where shredded into smaller pieces, tossed, and placed in plastic salad containers and sold around the world. Some of the purchasers started getting sick from the tainted (high risk mortgage paper) lettuce in the salad and they told others. Before you knew it no one was buying any salad because they were afraid of getting sick. They also realized they had been buying salads that contained a lot of bad lettuce. They also discovered that some of the lettuce had little nutritional value. With housing values decreasing and the loss of home equity the purchasers finally realized that their salad portfolios were not what they thought they were: tainted lettuce and lettuce of little nutritional (economic) value.

Where is God in all of this? He allows all the schemes of mice and men to ultimately take their course. He carefully weaves all the scenarios and conditions into a plot which assures a victorious outcome for Him in the end. God is not only the author of all things but He is the star of the story.

As God's beloved He weaves the plot so that His children will overcome all situations including financial ones. In the end the perpetrators will get the justice they deserve. Sometimes it is hard to make sense of the situations that we find ourselves. How can we explain the losses, the pain, and suffering today's financial crisis has and will bring to many iinnocent people like those who have worked hard all of their life to find that their pension or savings have been wiped out?

Why is God allowing this and what is He trying to accomplish through this? He allows nations, peoples and individuals to go through difficult situations to bring about character modification or perhaps change in direction, or point our moral or ethical flaws that need addressed. Whatever the reason their is a happy ending with God in Heaven for those who are His adopted children. This is a great time to witness to others as to where you place your trust. No matter how hard the situation is your eyes on the Lord and not on the problem?

No matter how difficult life becomes regardless of the losses endured we should never stop trusting the One who calls us into His loving arms.

I will say of the LORD, "He is my refuge and my fortress, my God, in whom I trust." (Psalm 91:2)

"I will have no fear of bad news; my heart is steadfast, trusting in You the LORD". (Psalm 112:7)

For it is by grace you have been saved, through faith—and this not from yourselves, it is the gift of God— not by works, so that no one can boast. (Ephesians 2:8-9)

A Perfect Storm

Remember the movie "The Perfect Storm?"

It seems we are in a perfect storm, a financial one. While home prices continue to drop and home equity decreases, local governments struggle with revenue losses, credit for new mortgages drying up, and government quarreling over who gets the credit for the Wall Street bailout, we find ourselves on the verge of a total financial meltdown.

Driven by greed, corruption, an ole boy network, and incapacitated with blindness, Wall Street and our Federal government are reaping what they have sown. Drunk on large commissions and profits (and I am not against gain or profit or earning a commission) Wall Street financial houses, brokers, banks, and the likes of Fannie Mae, Freddie Mac, and AIG now hungover from the "Mardi Gras" type atmosphere they have been enjoying over the last few years could walk away with the American taxpayer holding the bag. Follow the money and you will find those who have profited the most from this diseaster.

What has happened to transparency, accountability, principles, and moral character for those on Wall Street, in the halls of Congress, and the Federal bureaucracy? Some of those who are responsible for our current financial catastrophe now want to bailout their friends and drop the results into the laps of the American taxpayer.

Even though it is not expedient and politically correct there is a light shining in the darkness of the backhalls of Congress illuminating free market principles. There are those who are fighting to protect the American taxpayer, their children, grandchildren and great grandchildren from financing the bailout and being on the hook for repayment.

I think of all of those who are involved and I have to ask, "Is it worth it?" I am reminded of how easy it is for us humans to fall so quickly from our principles justifying what we say and do. Jesus was talking to His disciples as recorded in Matthew 16:26 and asked, "And what do you benefit if you gain the whole world but lose your own soul? Is anything worth more than your soul?

I need not say any more!