Power and Profit

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A response to: Holy See on Consequences of the Crisis

Please convey to Archbishop Tomasi that, notwithstanding the role of profit-seekers, a prior cause was a revision of the lending parameters by lawmakers expanding their power over the private sector. Remember Chesterton’s metaphor for the Church’s rules with which he described a plateau surrounded by a fence to prevent anyone from plunging into the abyss. We can thank certain U.S. lawmakers for their enlargement of the lending rules fence that caused over-eager (perhaps greedy) lenders to plunge into the abyss of this crisis. Thus it was first the power-seeker, paving the way for the profit-seeker, that led to this financial debacle. We must now beware that the resolution is not guided primarily by power-seekers whose eagerness to amass greater power leads to an over-correction that inhibits the profit-seeker from performing his vital role in society. Thank You.

Noel Busch

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