This post at Herescope by Pastor Larry DeBruyn titled False Profits & False Prophets captured my attention. It starts this way:
First came WorldCom, and then came Enron. Having created fraudulent reports of illusory earnings, both corporations bilked thousands of naïve investors out of their hard earned life savings. Now, there’s 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 them to other banks. Now many banks stand bankrupted, the Dow has been halved, people’s retirement funds have been pilfered, and the whole nation is looking for the federal government to bail us out of this financial mess, a crisis caused by human greed.
Read the rest here.