Greed: the opportunity for spiritual deception.
“But there were false prophets also among the people, even as there shall be false teachers among you, who privily shall bring in damnable heresies, even denying the Lord that bought them, and bring upon themselves swift destruction. And many shall follow their pernicious ways; by reason of whom the way of truth shall be evil spoken of. And through covetousness [in their greed, NASB] shall they with feigned words make merchandise of you: whose judgment now of a long time lingereth not, and their damnation slumbereth not.” 2 Peter 2:1-3a, KJV
First came WorldCom, and then came Enron. By creating fraudulent reports of illusory earnings, both corporations bilked thousands of naïve investors out of their hard earned life savings. Then came Fannie Mae and Freddie Mac, federal lending agencies that doled out billions of dollars in mortgage loans to borrowers who had little chance of repaying them. “Fannie and Freddie” proceeded to sell the bad loans to banks that in turn pawned them off to other banks that yet again, resold the bad loans other banks. Banks were bankrupted, the Dow was halved, people’s retirement funds were pilfered, and the whole nation looked to the federal government to bail the nation out of the financial crisis, a mess which in essence, was the result of human greed. So to refill the coffers of the bankrupt banks, the President and Congress created a federal “stimulus package” of trillions of dollars that further mortgaged America’s future. We’re paying off one credit card by borrowing on another. With such a monetary policy, the American dream may well turn into an American nightmare. It’s craziness to think that anyone, including the federal government, can borrow itself out of debt. But there’s more . . . Greed’s also rampant in our economy’s private sector.
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