ROBIN HOOD VIRUS

From My Perspective - - -

There is an abundance of commentary in terms of the Financial Markets and Meltdown in our country, as well as in the World Markets. Some of the commentary in this country allows that our current economic collapse is due to dishonesty, greed and mismanagement. Basically, permissiveness began to rule the markets and reality of values was pushed aside. People were permitted to borrow against a floating (ARM) interest rate on housing that had become inflated in value. Thus, the housing boom has become a housing bust.

It is very revealing to read an item in today’s news regarding Bank Of America. The story appears on Financial Times.Com and states: “Bank of America’s request for $20 Billion of government money to prop up its acquisition of Merrill Lynch was a “tactical mistake” that made the bank appear as weak as Citigroup, Ken Lewis, Bank of America’s chief executive told the Financial Times on Monday. Mr. Lewis vowed to stay on as chief executive of the North Carolina-based bank until it paid back the $45 Billion of government money it received under the US Treasury’s bank recapitalization program, possibly within two to three years….In hindsight, it was a tactical mistake because it put us in the same category as Citigroup…We could still have had 8% tier 1 capital after a $15 Billion loss but we wanted a cushion… it would have been better to request only $10 Billion for that purpose…that could have helped to curtail investor fears that further problems were in the offing. The scale of government assistance for Bank of America and Citigroup has helped fuel speculation that outright nationalization could be necessary for one or both banks. The fears have contributed to a 76 per cent drop in Bank of America’s share price since its acquisition of Merrill Lynch closed on January 1…”

A revealing phrase in the above article is – “BUT WE WANTED A CUSHION”! The Robin-Hood-Virus has a way of blinding ones reality factors and allowing for the greed factor to rule. Government Handouts of Billions of Dollars to those who are oriented to Capital Growth and Gain is the wrong remedy for the Robin-Hood-Virus. It seems as though we are bent in the direction of continuing this process and procedure with the soon to be announced Budget. Redistribution of Wealth has just begun! It is not even a clear view of the “tip of the iceberg” in terms of what lies ahead. We are Slouching Toward Gomorrah and Bankruptcy – and – there seems to be no way to slow or alter that momentum. At this rate, Capitalism will succumb to Socialism and the only concern will be – “WE WANTED A CUSHION” – corporately and personally.

Consider these things with me - - - It is never too late to correct ones direction and to get turned around. This is the serious possibility and goal of true HOPE. In the ministry of Jesus Christ, He clearly set before anyone who would follow Him the Cost Factors of doing so. In Luke 14:28-32, Jesus states: “Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, saying, This fellow began to build and was not able to finish. Or suppose a king is about to go to war against another king. Will he not first sit down and consider whether he is able with ten thousand men to oppose the one coming against him with twenty thousand? If he is not able, he will send a delegation while the other is still a long way off and will ask for terms of peace.” The question for this consideration is: “Will he not first sit down and estimate the cost to see if he has enough money to complete it?” The Robin-Hood-Virus is now impacting the Dow Industrial Average and Stock Markets around the world. There is a basic loss of confidence. Investors can no longer trust those who chose to gamble away the investment and retirement funds of countless numbers of people. In this time of concern, or discouragement, or maybe even anxiety, we would do well to remind ourselves of the words from a Worship Chorus: “God will make a way, Where there seems to be no way; He works in ways we cannot see; He will make a way for me! He will be my guide; Hold me closely to His side; With love and strength for each new day, He will make a way, He will make a way! Let your Hope, Trust and Confidence be in the Faithful God Who will make a way, and Who will provide for all of ones needs, according to His riches in glory - by Christ Jesus!