Archive for March 2019
Wells Fargo CEO Tim Sloan steps down as bank struggles to get past scandals
The word mammon comes from the Greek word mammonas. Similar root words exist in Hebrew, Latin, Aramaic, Chaldean and Syriac. They all translate to “money, wealth, and material possessions.” In biblical culture the word mammon often carried a negative connotation. It was sometimes used to describe all lusts and excesses: gluttony, greed, and dishonest worldly gain. Ultimately, mammon described an idol of…
Read MoreJPMorgan’s Role in Nigerian Oil Deal Has Come Back to Haunt It
It’s important to realize that there is a difference between self-interest and selfishness. All people have self-interests which can operate in ways that are not selfish. For example, it is in our self-interest to get a job and earn an income so that we can support our family. We can do that in ways that…
Read MoreIs This a Warning Sign,Bancorpsouth Bank (NYSE:BXS) Downgraded by ValuEngine
Greed is a strong and selfish desire to have more of something, most often money or power. There are many warnings in the Bible about giving in to greed and longing for riches. Jesus warned, “Watch out! Be on your guard against all kinds of greed; a man’s life does not consist in the abundance…
Read MoreSecond ex Barclays banker convicted in London Euribor re-trial
It is the love of money, and not money itself, that is the problem. The love of money is a sin because it gets in the way of worshipping God. Jesus said it was very hard for rich people to enter the Kingdom of God. When the rich young ruler asked Jesus what he should…
Read MoreMichael Avenatti fraud case shines a light on bankers, lawyers and money in Biloxi
Why is the love of money a root of all kinds of evil? To help us answer this, we must look at the passage in its greater context. Near the end of the letter (1 Timothy 6:2–10), Paul is exhorting Timothy regarding the need to “teach and urge these things” to his congregation, “these things”…
Read MoreWells Fargo is the smallest of the four giants that now dominate the U.S. commercial banking business
But it has surpassed its larger counterparts in the extent to which it has been embroiled in a series of scandals involving reckless lending practices and customer deception. Cheating is a selfish act that gives us an advantage over others who are facing the same challenge. As Christians, we should seek to help others fairly and justly…
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