Read an excellent interview regarding the current economic crisis on Justin Taylor’s blog:
David Kotter is the Executive Director of The Council on Biblical Manhood and Womanhood. I’ve found him to be a reliable, insightful voice on the intersection of theology and economics. He has an MBA, has taught economics, served as a finance manager for Ford Motor Company, and has done a lot of thinking on the topic. So I decided to ask him a few questions in an attempt to think biblically about the banking crisis that is currently underway.
What is happening in the present banking crisis?
Last night the federal government committed to lend $85 billion to the insurer American International Group (AIG), on top of the $200 billion of capital promised to keep Fannie Mae and Freddie Mac solvent in July and $30 billion for Bear Stearns in March. In other words, more than $1,000 for every man woman and child in the country has been directed in various ways to resolve the present banking crisis. At this point, you might be wondering why this happened and what benefit you can expect to receive from your thousand-dollar share.
Click here to read the whole thing.
