Howard Friedman looks at what could happen for church-state relations if the government's proposed bailout is approved.
The bailout would give the government powers to purchase mortgage related assets (residential or commercial mortgages) from any financial institution with headquarters in the United States. Friedman points to an article by The Deal, which reports that several churches are short in their mortgage payments and face foreclosure.
Friedman writes:
"In many cases the mortgage holders are not financial institutions, but instead holders of church bonds. But where the mortgage lender is a bank, is the draft bailout legislation broad enough to permit purchase of shaky church mortgages by the Treasury? If so, are there any church-state problems with the federal government essentially owning an interest in church buildings?"
Posted by Sarah Pulliam Bailey on September 22, 2008 4:45PM
Comments
I'm WAY more concerned with the government admitting with it's actions that they don't trust capitalism completely.
Posted by: Daniel G at September 22, 2008
As Christians, can any of us trust capitalism completely?
Posted by: Scott at September 23, 2008
I'm a firm believer that we should not bring the Church into debt, whether for church building, maintenance, paying salaries, etc.. As each member of the Body of Christ contributes we should function on a cash only basis. Don't tell me it can't be done. I've participated in this sort of stuff on many occasions both as a missionary in Korea snd here for the last 38 years as a missionary in the U.S..
The Church in America has never trusted government in the past, whether while being ruled by Britain, or the U.S..
Our trust needs to be in The God of Glory rather than in the bank! Have we come so far as to forget the lessons of the circuit riding preachers of the past?
Posted by: Robert Christopulos at September 23, 2008
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