The Bailout Plan

As I am sure you have indeed read, the economy has began to take on, as some economists would say, a “recession.” The United States has seen numerous signs of this, the stock market plunge and the fall of the housing and mortgage companies being a just a few of the many issues at hand. The mortgage companies in particular have suffered greatly, most of them being on the edge of bankruptcy.

I simply cannot conclude that giving a 700 Billion dollar bailout to these bank institutions is the correct line of thought. The bankers and mortgage brokers knew exactly the great risk they were taking when they offered loans to people with poor credit/credit characteristics. They willingly handed out thousands of loans to people that could not afford them, knowing they could make money off of the plight of the poorer people in America. The influx of subprime loans within the last ten years, along with the current economic slump has left these bankers and brokers in major debt, and now the average American is left to pay for it. A New York Times article said that

To put the bailout in terms everyone can understand, it will cost every man, woman and child in the United States about $3,300 to finance the package.

That would be an average of about fifteen thousand dollars for a family of five. I cannot see why normal, responsible American tax payers should have to hand out their hard earned money to fix this plight, while those responsible for the mortgage crash to get a figurative pat on the back for their own ineptitude. The L.A. times conducted a poll about the bailout deal, saying that:

Asked whether the government should use taxpayer dollars to rescue financial firms whose collapse could have adverse effects on the economy, 55% of the poll's respondents said they did not believe the government should be responsible for funding a bailout plan.

As the polls are beginning to show, Americans are not going to allow this plan’s blatant disregard for their money. It’s not only financially wrong; it sets a terrible moral example for the business world and politics in general. This sets a precedent that if you abuse the economic system in the hopes of making extra money for yourself, and it backfires, the government will pay your debt, and eventually leaving the final tab with honest people. If we never had to pay for bad decisions in life, we would never learn to make the right ones. The same line of thought applies here.

My solution is synonymous with many solutions of the nation’s top economists, and that is for the companies to declare bankruptcy. I have several reasons for this. Firstly, it would leave the penalty for the crash in the hands of those who created the problem. According to Harvard economist and lecturer Jeffrey Miron, “Bankruptcy punishes those who took excessive risks while preserving those aspects of the businesses that remain profitable.” I think he has a good point. If they were to declare bankruptcy, the mortgage brokers and bankers would have to pay for their wrongdoing, while the business itself would go to the creditors and be taken over by a company better suited to run it. Mortgage companies and banks could continue to run hopefully under the supervision of someone who would not abuse their power.
The first bailout plan has been vetoed, however, the same bill with a few slight changes is going before Congress to be decided upon. Though the bill has been somewhat changed, it still allows for the people responsible to slip away from their problems and the money is still being taken from the American taxpayer. After reviewing the issue, and studying both sides of the argument, I cannot find reason for allowing this bill to be passed.

Tribes and Clubs?

I suppose since most of you are freashmen, you will have been introduced to the tribes and clubs. I, as a freshman, have also been subjected to the many fliers, posters, personal greetings, and meetings for these groups. I am not sure what to think though.

Since I am a guy, I will obviously would join a club, not a tribe. :) I went to the ISEC meeting, and I was somewhat unimpressed, however I am told the fun will "pick up" once rush starts. I am just not sure what to do about joining. The Pro's of joining are (from my understanding):

More Friends
Being part of a "brotherhood"
Having events to go to
Being more involved on Campus
Making an impact on you friends

However I do see some con's. Some of the clubs definitely do not set a good example for anyone. During one of the meetings, I was approached by a member of a club which will go un-named, and was told, and I quote "Dude, we got a house off campus that we can get drunk at and have wild parties." That bums me out a bit I have to say. Also, I don't want to feel like I have to do everything the club does. I play a sport off campus, I play with a music group, and I have alot of friends who are not going to Rush.

I am going to rush, but i am not sure what my decision, if any, will be. Anyone have any comments? Are you going to rush? Why or why not?

2. Christianity?

One major problem I have been thinking about is legalism in the church. Guys, we spend so much time telling each other how to worship, how not to worship, what and what not to say, what not to drink, what not to wear. Its the very thing Jesus spent his entire ministry fighting against. read through the gospels. Its seems as if at every turn, Jesus was dealing with the Pharisees and their concern over religious rules. If your brother in Christ is in sin according to the Bible, by all means, confront him about it. However, if the Bible does not convict it, its none of your business. I overheard a guy on the quad talking about how one of his friends did not have a strong relationship with Christ because he did not lift his hands during praise and worship or ever go to the alter at church. ????? what ????? Don't remember the Bible saying that if you don't go to the alter, you are not a strong Christian. This is a result of legalistic teaching either in a youth group or in a church., and its dividing Christianity into faction-like groups. We are supposed to be a family guys, a single body.

Another thing really upsets me. Yesterday before Bible class here at MC, I overheard a girl saying to her friend " Why do we need to know anything about Biblical History, or archaeology, or any of that 'technichal' stuff? All we need to know is how our personal relationship with Jesus is." I wantedto puke. This is exactly why the world looks at Christianity as big, pompous idiots who preach their belief but can never back it up. So many people make the mistake of thinking their personal relationship and being good are the only parts of Christianity. No! Matthew 28:19-20 clearly tells us to go and make disciples. In the world we live in, we no longer can tell people that Jesus loves them, and hurray, they will believe. We live in a world that wants information, we want to be able to understand something. Technology allows us to do so, we have instant knowledge at our hands (instant communication), and instant communication (phones). As Christians we need to know our faith, need to be able to prove its real, rather than to just say its true "because the bible says it is." There is a plethora of historical and scientific knowledge proving the truth of the Bible and of Christian claims. Why not learn it? I recently watched a fox news video of an atheist debating with a reknowned Christian pastor. The Islam leader said "Prove to me scientifically or historically that your religion is true." and the pastor stared at him and couldn't say anything. This a momumental problem most people don't even realize. If someone comes up to you believing the Bible is untrue, what are you going to say? Can you prove its real?

Guys, I am like everyone else in their Christian walk, trying to figure things out and grow closer to God. I don't have all the answers. I just hate to see so many Christians believing but not being able to show the world what they believe. I would love to hear comments or Criticisms.

mike

p.s. a good resource dealing with the whole catergory of apologetics is a book called "New Evidence that Demands a Verdict" by Josh McDowell

First Blog

This is my first entry. I am very excited to see the feedback I get from this endeavor. As listed at the top of my page, I am going to cover a wide variety of subjects and ideas. I am particularly interested in topics concerning religion, philosophy, ethics, and political discussion. I am open to comments, criticism, and ideas for new blogs. Currently, I am enrolled as a student at MS College, which is a pretty amazing place. If all goes according to plan, I will be majoring in business. Please enjoy yourself, and thanks for your time.

-mike