On ‘Fixing the Moral Deficit’ (part 1)

The Consumerist brings us the entertaining story of a New Mexico man who picked the wrong restaurant to dine-and-dash: We certainly don’t condone the act of dining-then-dashing. It’s illegal and, more importantly, just plain rude to the people that prepared and served your meal. It’s especially rude when the servers are law enforcement officers working [Read More…]

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Jubilee would help

Call it debt forgiveness, principle reduction, or restructuring, a hair-cut or a cram-down — call it whatever you like, but it increasingly seems as though some measure of Jubilee would be an immensely practical step for borrowers and for lenders and for the economy as a whole. At this point the idea of such a [Read More…]

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Banks behaving badly

Cora Currier: “Banks Colluding with Insurers to Rip Off Homeowners, Lawsuit Alleges“ A federal judge in Miami on Tuesday opened the door to a class action against Wells Fargo. More than 20,000 Florida homeowners can now sue Wells Fargo and an insurance company, QBE, for allegedly overcharging for insurance. More than $50 million in insurance [Read More…]

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Bank-transfer season 2012

The New Bottom Line project says “Bank Transfer Season 2012 Kicks Off in San Francisco“: Yesterday, clergy in San Francisco announced plans to divest $10 million from Wells Fargo. 40 clergy from across San Francisco gathered outside the headquarters of Wells Fargo to call on the bank to put an immediate freeze on all foreclosure [Read More…]

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C.S. Lewis and Occupy Wall Street

Here’s a bit more from David Graeber in the Boston Review: [Debt: The First 5,000 Years] came out of the strange moral power that debt has over people. So many times you’re talking to people about the depredations of the International Monetary Fund in the third world, telling these horrible stories about the thousands of [Read More…]

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Jubilee: Proclaim the year of the Lord’s favor

Internet Monk just celebrated “Jubilee Week: All Grace All the Time!” Jubilee is one of my favorite things. Debts are cancelled. Slaves are set free. Olly olly oxen free. What could be better? First thing that Jesus talked about in his public ministry? Jubilee. It pervades his parables. It’s right there in the prayer he [Read More…]

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#Occupy the trailer parks

Stimulus plan: Government-backed low-interest loans for manufactured home communities to allow homeowners to purchase the land beneath them. These people pay their rent, so they can afford the loan payments. When you own a not-so-mobile home but rent the land it sits on, you face the prospect of imminent upheaval, homelessness and the loss of [Read More…]

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Ross Douthat’s utopia exists, in Haiti

If only “the government” would get out of the way, then private charities could step in, step up, and fix all of our problems. This is not a serious suggestion, but it’s a popular one, perennially put forward by people who insist we should take them seriously. New York Times columnist Ross Douthat offers a [Read More…]

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