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Thou shalt not subprime

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

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Salon Default

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.

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.

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


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