Thou shalt not subprime

Fall on your knees! Faith-based investors claim they saw the mortgage meltdown coming, 15 years ago.


Andrew Leonard
September 9, 2008 9:03PM (UTC)

The folks at the Interfaith Center on Corporate Responsibility seem like a nice enough group of well-meaning liberal believers. Among the issues they work on: eliminating sweatshops, reversing global warming, halting the proliferation of genetically modified foods, and seeking more reasonable executive pay.

But the news advisory that a P.R. agency working for the group just sent out alerting me that I could call into a press conference on Sept. 10, in which ICCR would explain how "faith-based investors" had prophesied about the dangers of subprime loans way back in 1993, is just ridiculous.

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TO PARTICIPATE: You can join this live, phone-based news conference (with full, two-way Q&A) at 1 p.m. EDT on Wednesday, September 10, 2008 by dialing 1 (800) XXX-XXXX. Ask for the "prophetic warning from faith-based investors" news event.

Ask for the prophetic warning from faith-based investors? I'm sorry, I have my dignity, and I simply refuse to look for more insight into the ongoing mortgage foreclosure crisis by expressly seeking out prophetic warnings. That's just silly.

Unless the ICCR is being intentionally funny. In which case, I'll consider offering them my worship.


Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.

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