I have been watching coverage of the demonstrations that started in New York City and are now spreading to other cities. The target is often referred to as Wall Street greed. There is ample evidence to suggest that a major cause of the economic downturn was the result of risky investments, particularly in sub-prime mortgages that were bundled as “investment grade” opportunities. This is well-documented. We also know that a government bailout was necessary to keep some of the major banks and investment firms from becoming insolvent. The result is a precarious economy in which more than 9% of Americans are unemployed, and at least 16% are underemployed. Unemployment rates among the young are particularly high, as are the rates for African-Americans. So, with all of these factors, it is very easy to point the blame at Wall Street. Wall Street is a convenient symbol for our economic malaise, and it does deserve some of the blame, along with corporate America, which is holding onto record amounts of cash, rather than using it to expand their work forces. While I am moved by the passion of the demonstrators, I feel a need tostep back and reflect.
This is not a simple or straightforward issue that lends itself to easy solutions. The reality is that nearly all of us with retirement plans are relying on Wall Street to provideus with the bulk of our income when we retire. We cannot escape this reality, unless we revert to making individual loans (i.e., micro-lending) to finance our retirements and to help our regular savings grow rather than remain under the proverbial mattress. One can even refer to this as micro-capitalism because it is taking place on a small, local or “micro” level. I actually know someone who, after losing a windfall when the tech bubble burst, took another windfall and bought his daughter and son-in-law a house, for which they are repaying him, rather than going through a bank. It is a “win-win” situation for his family, but few of us can put our hands on somewhere in the range of half a million dollars; and even fewer of us can afford to put that much into one investment.
So, as much as we decry “Wall Street” or “capitalism,” the reality is that we are dependent on it. This is not to say that we cannot change the way that business is being done. This is where my heart is with the (mostly) young people who are taking to the streets.
Something is desperately wrong with a system in which failures such as the outgoing chief executive officer of Hewlett-Packard will receive over $14 million dollars in severance pay for being fired after 11 months on the job. Something is also wrong with a system that bails out large banks and investment companies while funds for the long-term unemployed are removed by so-called fiscal conservatives. In a purely capitalist system, the shareholders of the banks would have lost their investments.
The reality is that we do not live in a “pure” economy. It combines what we hope will be the best possible mix of free market capitalism and democratic socialism. We depend on Wall Street, and we also depend on programs such as Medicare and Social Security. Furthermore, some of us also depend on Medicaid.
As I keep saying, “we are all in this together.” Watching the HBO movie “Too Big To Fail” with one of my economist sons was a lesson about just how convoluted and interdependent all of this really is. It did not leave me with sympathy for Wall Street, but it confirmed my own sense of why we need a more inclusive and wide-ranging discussion of how to fix the economy. There was money for Wall Street, but there also needs to be money for those who are just plain “out on the street.
The time has come to “bail out” the millions who are unemployed or underemployed with a viable jobs program. To keep the debacle from happening again, perhaps a significant number of people should be employed in oversight positions looking over the large banks and investment firms so that this does not happen again. Perhaps a portion of every publicly traded company’s profits/expenses could go towards paying for fiscal overseers. If companies have trouble finding this money, I would suggest they start by looking at theirexecutive compensation. I am sure that the stockholders of Hewlett-Packard would agree that part of their former CEO’s $14 million severance package would have been better spent looking out for shareholder interests.
Peace,
The Rev. Dr. Stan Sears, Minister
Some of you know that I recently undertook the task of a lifetime - dealing with my weight and fitness. Thanks to Laura Martin Reed for recommending Mark Briggs CSW and hypnotherapist - with 40 years of experience in CNY, Mark has found an effective multiple level reprogramming method in conjunction with Scott McFall of Indiana to address the addictive brain patterns that become increasingly entrenched as we age. In my prescreening interview, Mark asked me about my family history with addiction, and I shared about my mother's alcoholism. Given this, and my own conviction that this was an addiction, Mark recommended an Overeaters Anonymous group in Manlius that I have been attending every Tuesday night. What a blessing and a transformation this program and the hypnosis has wrought! As I work through Step 3 of the 12 steps, I have come to realize that there is a conflict in me over the concept of 'surrender' - whether to God or anyone else!! When I was in my late 20s I had a conversion experience and became a devout fundamentalist (charismatic) Christian - I spoke in tongues, waved my arms and danced at services (with GREAT music, btw), went to church at least 3 times/week, read and studied the bible for hours each day, and prayed. I surrendered every part of myself in the process; as belonging to such a church did not allow for much free thinking. I realize in retrospect that my willingness to surrender completely was actually a 'contract' I made with God - surely he would guide me into a life of fulfillment and joy. When instead I found myself in a marriage with a young man who was an alcoholic and drug abuser, who ended up stealing money from me - I dissolved the marriage and my relationship with my Old Testament God and church community. My sense of self was completely undermined. I had been someone who had unflagging faith in myself - if I wanted to do something, I just did it. I had no doubts that I could achieve it. This unbelievable lack of judgement in choosing a mate pulled the rug out from under me, and stripped me of what faith I had in that God and in myself. Since then, I have developed a more mature faith, and I know this is a lifelong process of discovery of who I really am, who/what 'God' is, and forgiving myself for being human. I don't know if I am really ready tosurrender everything in my life to God, but in OA they just say - try it and see. So I got on my knees this morning, and asked for God's guidance and love - it is an act of faith to do this, and I know that I don't need to surrender my logic when I am doing it - the idea is to give myself a moment a few times each day when I am facing a choice and listen to whatever is inside or outside - reflect on the moment, and then act on the guidance that shows up, whether it is intuitive, instructive, or observed. This does not rob me of the creative power that I am, the surrender simply acknowledges in the moment that my human brain does not know everything. And I am a conduit to the power that created the universe, me, you, and all the insanely wonderful food that surrounds me!!!
Namaste, Katherine Potter
The Rev. Dr. Stanley Sears, Minister
Auburn Unitarian Universalist Society
Submitted to the Auburn Citizen for October 2, 2011
Perhaps the most important topic for all clergypersons to address is what I will call “the fragility of life.” All of us face it multiple times in the course of our careers. We experience it when we are called to a home following a fatal auto or hunting accident, or when a “too-young” person, seemingly in excellent health, suddenly drops from a heart attack. As a widower, I am well-acquainted with the hollowness, the void, the feeling of emptiness that accompanies the death of a loved one. Although I have found new love and joy, I accept the presence of grief at weddings, graduations, and all of the family events that we expected to share together. What has changed over the years is that I accept grief’s presence, but not its total debilitation. I was fortunate because, before she died after nearly six years of fighting breast cancer, my wife pretty much ordered me to find someone new. She loved me enough to not want me spending the rest of my days grieving and feeling miserable. It was, perhaps, the greatest gift and act of love that she could have given me.
I realize that not every widow, widower, or surviving family member has the luxury of time to speak about death, let alone to make plans or bless future relationships. My late wife’s brother was killed by a pair of drunken teenage drivers when he was 27. His widow and I have discussed the vast differences in how we were thrown into widowed futures. This is one of the reasons why I encourage couples to have wills prepared—no matter how old they are—if only because it forces them to speak about the unthinkable. Do they want to be buried or cremated? If there are children, who should raise them if both people die together? All of us are a drunk driver or a cardiac event away from death. Both of my sons, who are in their young twenties, have already lost classmates or childhood friends.
As a minister, perhaps the greatest privilege or honor comes when I am invited into a family home following a death. I call it an honor because it is a time when individuals and families are most vulnerable. It is a time when healthy families come together, and unhealthy families feud. In those moments, I am called upon to mediate, either the divine, or whatever power will sustain people through the agony of loss.
We also learn that life is not fair. It is capricious. Some truly rotten people never get caught, and some really good people get caught short in the lifetime sweepstakes. We also learn that grief is cumulative. That part of our souls that serves as the vulnerable spot for all of our losses becomes more sensitive from the thud and pounding which accompany each new loss. I tend to think that anyone who tells you that death becomes easier to accept after repeated experiences is suffering from a calloused soul. While we may learn something about how to navigate our way through Grief’s troubled seas or through the thickets of its forests, each new loss creates its own waves, and leaves a distinct imprint that will remain with us, both consciously and unconsciously.
I have become attentive to this, and gained a greater appreciation for the fragility of life. It has led me to savor the moments that I have with those I love; to make extra efforts to either speak to, or, spend time with the people who matter to me; and, to tell people how much they mean to me. After all, we never know when someone we know or love will suddenly die.
This was brought home to me following a pair of recent family deaths. One was anticipated; the other was sudden. One was particularly poignant because it was a cousin who was my age, and we had shared numerous family celebrations during childhood, as well as family reunions when we, ourselves, were parents.
It is not my intention to write a morbid column, or to leave you feeling sadness or even self-pity. Once we become attentive to the fragility of life we learn to savor its joyous and celebratory qualities. We learn that time is meant to be lived and spent, rather than hoarded or banked away, as though we can reach the moment of death and say “Hold on, I took a nap and didn’t spend 20 minutes on a sunny day when I was 15,” or, “I want credit for all those mornings that I overslept on weekends!”
It is precisely the fragility of life that calls upon us to embrace those we love more closely, and to strive to deepen our relationships. This is also the time of the Jewish New Year, Rosh Hashanah, and Yom Kippur, the Day of Atonement, or, “at-one-ment.” In other words: becoming one with those with whom we have fallen out of healthy or positive relationship. No matter how long we live, we will all experience loss. It is part of the human condition. Cherish the time that you have, and truly spend the moments that you are able to share with those whose lives are integral to yours. Life is too fragile, and time is too valuable to live otherwise.
Some of you know that I recently undertook the task of a lifetime - dealing with my weight and fitness. Thanks to Laura Martin Reed for recommending Mark Briggs CSW and hypnotherapist - with 40 years of experience in CNY, Mark has found an effective multiple level reprogramming method in conjunction with Scott McFall of Indiana to address the addictive brain patterns that become increasingly entrenched as we age. In my prescreening interview, Mark asked me about my family history with addiction, and I shared about my mother's alcoholism. Given this, and my own conviction that this was an addiction, Mark recommended an Overeaters Anonymous group in Manlius that I have been attending every Tuesday night. What a blessing and a transformation this program and the hypnosis has wrought! As I work through Step 3 of the 12 steps, I have come to realize that there is a conflict in me over the concept of 'surrender' - whether to God or anyone else!! When I was in my late 20s I had a conversion experience and became a devout fundamentalist (charismatic) Christian - I spoke in tongues, waved my arms and danced at services (with GREAT music, btw), went to church at least 3 times/week, read and studied the bible for hours each day, and prayed. I surrendered every part of myself in the process; as belonging to such a church did not allow for much free thinking. I realize in retrospect that my willingness to surrender completely was actually a 'contract' I made with God - surely he would guide me into a life of fulfillment and joy. When instead I found myself in a marriage with a young man who was an alcoholic and drug abuser, who ended up stealing money from me - I dissolved the marriage and my relationship with my Old Testament God and church community. My sense of self was completely undermined. I had been someone who had unflagging faith in myself - if I wanted to do something, I just did it. I had no doubts that I could achieve it. This unbelievable lack of judgement in choosing a mate pulled the rug out from under me, and stripped me of what faith I had in that God and in myself. Since then, I have developed a more mature faith, and I know this is a lifelong process of discovery of who I really am, who/what 'God' is, and forgiving myself for being human. I don't know if I am really ready tosurrender everything in my life to God, but in OA they just say - try it and see. So I got on my knees this morning, and asked for God's guidance and love - it is an act of faith to do this, and I know that I don't need to surrender my logic when I am doing it - the idea is to give myself a moment a few times each day when I am facing a choice and listen to whatever is inside or outside - reflect on the moment, and then act on the guidance that shows up, whether it is intuitive, instructive, or observed. This does not rob me of the creative power that I am, the surrender simply acknowledges in the moment that my human brain does not know everything. And I am a conduit to the power that created the universe, me, you, and all the insanely wonderful food that surrounds me!!!
Namaste, Katherine Potter
I have been watching coverage of the demonstrations that started in New York City and are now spreading to other cities. The target is often referred to as Wall Street greed. There is ample evidence to suggest that a major cause of the economic downturn was the result of risky investments, particularly in sub-prime mortgages that were bundled as “investment grade” opportunities. This is well-documented. We also know that a government bailout was necessary to keep some of the major banks and investment firms from becoming insolvent. The result is a precarious economy in which more than 9% of Americans are unemployed, and at least 16% are underemployed. Unemployment rates among the young are particularly high, as are the rates for African-Americans. So, with all of these factors, it is very easy to point the blame at Wall Street. Wall Street is a convenient symbol for our economic malaise, and it does deserve some of the blame, along with corporate America, which is holding onto record amounts of cash, rather than using it to expand their work forces. While I am moved by the passion of the demonstrators, I feel a need tostep back and reflect.
This is not a simple or straightforward issue that lends itself to easy solutions. The reality is that nearly all of us with retirement plans are relying on Wall Street to provideus with the bulk of our income when we retire. We cannot escape this reality,
unless we revert to making individual loans (i.e., micro-lending) to finance our retirements and to help our regular savings grow rather than remain under the proverbial mattress. One can even refer to this as micro-capitalism because it is taking place on a small, local or “micro” level. I actually know someone who, after losing a windfall when the tech bubble burst, took another windfall and bought his daughter and son-in-law a house, for which they are repaying him, rather than going through a bank. It is a “win-win” situation for his family, but few of us can put our hands on somewhere in the range of half a million dollars; and even fewer of us can afford to put that much into one investment.
So, as much as we decry “Wall Street” or “capitalism,” the reality is that we are dependent on it. This is not to say that we cannot change the way that business is being done. This is where my heart is with the (mostly) young people who are taking to the streets.
Something is desperately wrong with a system in which failures such as the outgoing chief executive officer of Hewlett-Packard will receive over $14 million dollars in severance pay for being fired after 11 months on the job. Something is also wrong with a system that bails out large banks and investment companies while funds for the long-term unemployed are removed by so-called fiscal conservatives. In a purely capitalist system, the shareholders of the banks would have lost their investments.
The reality is that we do not live in a “pure” economy. It combines what we hope will be the best possible mix of free market capitalism and democratic socialism.
We depend on Wall Street, and we also depend on programs such as Medicare and Social Security. Furthermore, some of us also depend on Medicaid.
As I keep saying, “we are all in this together.” Watching the HBO movie “Too Big To Fail” with one of my economist sons was a lesson about just how convoluted and interdependent all of this really is. It did not leave me with sympathy for Wall Street, but it confirmed my own sense of why we need a more inclusive and wide-ranging discussion of how to fix the economy. There was money for Wall Street, but there also needs to be money for those who are just plain “out on the street.
The time has come to “bail out” the millions who are unemployed or underemployed with a viable jobs program. To keep the debacle from happening again, perhaps a significant number of people should be employed in oversight positions looking over the large banks and investment firms so that this does not happen again. Perhaps a portion of every publicly traded company’s profits/expenses could go towards paying for fiscal overseers. If companies have trouble finding this money, I would suggest they start by looking at theirexecutive compensation. I am sure that the stockholders of Hewlett-Packard would agree that part of their former CEO’s $14 million severance package would have been better spent looking out for shareholder interests.
Peace,
The Rev. Dr. Stan Sears, Minister
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