How to deal with the coming financial crisis

One of the very interesting things about the whole financial debacle right now is that those at the head of many of the big investment firms are Democrats. This comes as something of a surprise to me, as I'd think that those who ought to lead big, free market firms ought to be those who, you know, believe in free markets.

Of course, the solution to my confusion comes when I realize that Fannie Mae and Freddie Mac, and many companies linked to them, are not primarily free market entities, but are rather highly dependent upon government action. Who better than an advocate of governmental growth to lead them, then?

So what we have here is more or less, IMO, is you and I (with little influence in Washington) being subjected to a $700 billion debacle. What do we do about it?

Let's remember Romans 13, especially verse 8. "Owe no man anything"; think about it. All of the entities involved in this financial boondoggle owe their impact to debt.

Let's imagine the Fed's power if you remember "pay cash or drive trash." Let's imagine where Fannie Mae and Freddie Mac would be if homeowners decided to pay off their mortgages instead of upgrading to the new McMansion we know we can't really afford. Let's imagine AIG as people realize that, with adequate investments and plunging mortgage balances, they don't need as much life insurance as they thought they did.

Remember that liberty didn't start in Philadelphia, or Runnymede, Athens, or Jerusalem, or even with Moses in Egypt. It starts as we learn God's word and apply it in our lives.