AIG scapegoats: Collective culpability

A lot of outrage, including threats of physical violence, has been directed at executives of the American International Group and other financial-services firms. The executives are perceived as having triggered the world wide economic crisis by their reliance on subprime mortgage–backed securities and on credit default swaps (something few people understand even after hearing them explained). And they are seen as having escaped the crisis unscathed—and in some cases with millions of dollars in bonuses.

Keyword tags

Wilderness of uncertainty: Forgotten virtues to relearn

Theologian N. T. Wright says that even when you are in the Promised Land you are never far from the wilderness. I’m not the only preacher who has pondered how our nation has gone so quickly from the promised land of abundance to a wilderness of economic uncertainty. This recession is a new place for most of us. We had come to assume uninterrupted economic growth and the safety and stability of our investments and of the institutions we treasure and support—churches, seminaries, colleges, hospitals.

Keyword tags