Thursday, November 05, 2009

Profit "Not Satanic" Barclays Says, After Goldman Invokes Jesus

“The injunction of Jesus to love others as ourselves is an endorsement of self-interest,” Goldman Sachs' Griffiths said Oct. 20, his voice echoing around the gold-mosaic walls of St. Paul’s Cathedral, whose 365-feet-high dome towers over the City, London’s financial district. “We have to tolerate the inequality as a way to achieving greater prosperity and opportunity for all.”

The Death of Usury or The Disgrace of Usurers from 1594 England

We won't be talking about religion on this blog but the insanity and rationalization of banksters knows no bounds. I don't know about you but I grew up in an environment that embraced spirituality as a virtue. Not that I have always upheld those ideals. But, then I believe most of us aspire to be better than we are. I never could imagine anyone in my family ever uttering the twisted words above. Ever. That's a pretty narcissistic and self-serving interpretation of Jesus Christ as a rationalization for morally bankrupt behavior. I thought Jesus Christ spoke of selflessness, compassion and kindness. Especially for those in society who were unable to defend themselves. Or those we disagreed with. Not condescending selflessness or kindness either. But as someone who was another equal. Democratic selflessness.

This Bloomberg story has to literally be one of the most bizarre I have ever read. Even more bizarre is that Wall Street mobsters are heading to churches to rationalize their behavior. Actually, if the men quoted in this article knew anything about many religions, they would realize that profits are not Satanic but usury is.

Do we need a refresher course in Canon Law? Usury was once punishable by ex-communication.

Ezekiel 18:13 He lends at usury and takes excessive interest. Will such a man live? He will not! Because he has done all these detestable things, he will surely be put to death and his blood will be on his own head.

Sharia (Muslim) Law forbids the acceptance of interest for lending.

The United States used to cap interest rates at 6% and anything beyond that was usury.

In early England the punishment for usury was forfeiture of property.

A public banking system would not be concerned with profits or screwing our fellow citizens out of their often meager earnings. But would be concerned with the democratic development of humanity, the creation of jobs and attempting to enable citizens with the opportunity for a life of self-determination. It would serve the common good and serve democracy. It would serve society democratically. It would not serve those who are most willing to exploit society without conscience. Or those who will do anything to rewrite our laws to steal our money.
posted by TimingLogic at 9:15 AM