Tag Archives: mortgage crash

Bad Theology and Bad Mortgages

October 25, 2008 – 8:34 pm

How important is good theology? Pretty important. Not only can bad theology give people a wrong picture of God, it can also cause them to do some pretty stupid things in the here and now. Take the “prosperity gospel” and the recent mortgage crash, for example. Time recently reported on the intersection between bad theology [...]

By Joe Martin | Posted in Biblical, Economics | Comments (1)

Blame the Fed?

October 24, 2008 – 8:36 pm

I always like a story that points out how supposedly wise government employees manage to destroy the very thing they’re trying to protect. Today, the Wall Street Journal fingered the Federal Reserve for much of the turmoil of the last year.

But the larger story is that the global economy is fast popping its [...]

By Joe Martin | Posted in Economics, Government | Also tagged | Comments (0)

Did Deregulation Cause the Crash?

September 29, 2008 – 9:43 pm

Many people are blaming the mortgage crash on the repeal of the Glass-Steagall Act — the 1999 Gramm-Leach-Biley Act. But did Gramm-Leach-Bliley cause the crash? I don’t think so.

First, Glass-Steagall created a “wall of separation” between investment banking and commercial banking. Investment banks create and sell securities in the investment markets. Commercial banks earn money [...]

By Joe Martin | Posted in Economics | Also tagged | Comments (0)