Skip to content

The Religious Case for Moving Your Money Where Your Heart Is

The Religious Case for Moving Your Money Where Your Heart Is

January 11, 2010 SVadmin Comments 0 Comment

by Paul Raushenbush

(First published in Huffington Post January 11, 2011)

In my sermon at the Princeton University Chapel this Christmas, I brought in good, old George Bailey from It’s a Wonderful Life. My reference to It’s a Wonderful Life was to pose the troubling question of which portrait looked more familiar: the bucolic final scene of Bedford Falls, or George’s nightmare of the brutal and callous Pottersville? Which depiction of America was a closer representation of the economic reality as we enter the second decade of the 21st century? One of the questions I asked my congregation to consider was the moral agency each of us possess to do good in this world by fulfilling God’s desire for the economic well being of all humanity.

A week later I heard about the Move Your Money movement, went to the website moveyourmoney.info and coincidentally saw a video that featured George Bailey vs. Potter. The video uses these archetypes to set up the distinction between big banks and community banks. The site encourages us to shift at least part of our money out of the banks that were too big to fail, and are now too big to loan money, and into community banks which are more likely to serve the needs of local people.

Religious people should seriously consider the merits of this growing movement, as the way we treat our money is tied into our spiritual commitments. The connection between religion and money is hotly contested. In one camp, we preach (impractically) that money is the root of all evil and we should rise above it; and in the other camp, we preach (untruthfully) that God blesses the faithful and wants each person to be fabulously wealthy. While money may be difficult to talk about within the religious setting, is not impossible. Indeed, the Hebrew prophets certainly took on the subject of economic justice, and Jesus talks about no subject with more frequency and passion than his concern for the poor.

How we, as individuals and as a country, deal with our money and our economy are moral questions. Rev. Jim Wallis is fond of saying that the United States budget is a moral document, but our national and our personal economic choices are also moral decisions.

Like the terms ecology and ecumenism, the word economy has the root oikos, which is a Greek word that translates as family or house. Any economy should be judged on its ability to provide for the needs of the entire human family it is meant to serve. Banks are an important part of our economy. As part of our economy they should be judged on how well they are serving our community and national family.

And the current answer is — not well.

My great grandfather, Louis D. Brandeis, wrote a series of essays in 1914 called “Other People’s Money, and How the Bankers Use It.” Brandeis warned of the ‘curse of bigness’ in the banks as they orient themselves to the interest of big business at the expense of the individual consumer, and gamble with the collective money of the small investor. One hundred years later, Brandeis’ essays are like a textbook on what went wrong with the banking industry in our recent crisis. We are still cursed by bigness, and as politicians consider financial regulations in the near future they would do well to look at Brandeis’ writings.

The curse of bigness in banks should be a major concern of religious people and their churches, synagogues, mosques and any other religious institution. When banks and corporations get too big they grow indifferent and lose the sense of responsibility to and for the people they are meant to be serving. Just remind yourself of the scene in The Smartest Guys in the Room when the Enron guys in Dallas are messing with the energy in California without a thought for the people whose lives they are destroying.

Bigness has created alienation and disconnectedness in our banking institutions and the result is that they are able to give themselves bonuses to buy a second or third home while refusing to help those in desperate need of financial help to keep one roof. The projection is that one million American households may face foreclosure this year. This turning away from the stranger and the neighbor in their time of need in order to gratify oneself is sinful and should be understood in those terms.

Walter Rauschenbusch, another of my great grandfathers, wrote a remarkable treatise on love and the economy entitled “Dare We Be Christians” in which he warns that, “The severest test and the most urgent task of love today is in the field of business life. Unless love can dominate the making of wealth, the wealth of our nation will be the ferment of its decay.”

We might scoff at the idea of love dominating the field of business. But by love, Rauschenbusch meant ethics and justice. As Dr. Cornel West says: Justice is what love looks like in public.

The big banks were greedy, which was the ‘ferment of their decay.’ They played with our money, and we bailed them out, and now they won’t lend it back to us. It may not be the big banks’ fault. They may just be too big to be able to focus on the kind of community support that we need our economy to provide. So, maybe we should make them a little smaller.

It may be time for us as individuals and as churches, synagogues and mosques to move our money to smaller banks that are connected and responsible to our local communities.

I encourage you in your congregation to consider the following question regarding where you keep your money:

How does my religious tradition view money? What purpose does money serve in the ideal society envisioned by my tradition? Does it matter how our money is made? What is the best way to make my money serve the ethical mandates of my tradition? Does my bank reflect the values that I hold regarding money?

Each of us has many ways to live out our religious convictions. One of those ways is to be conscious and have a conscience about how we make, spend and where we save our money. If you are interested in learning more go to moveyourmoney.info.

Rev. Paul Raushenbush is the Religion Editor for the Huffington Post. He is the Associate Dean of Religious Life and the Chapel at Princeton University. An ordained American Baptist minister, Rev. Raushenbush speaks and preaches at colleges, churches and institutes around the country including the College of Preachers at the National Cathedral in Washington D.C., The Chautauqua Institute in upstate New York, the Center for American Progress, and the New America Foundation. He has appeared on ABC World News Tonight and is a repeated guest on CNN and NPR. He has been quoted in The New York Times and The Washington Post and is a contributing editor for Beliefnet.com. His first book, Teen Spirit: One World, Many Faiths (HCI) was released in the Fall of 2004. He is the editor of the 100th Anniversary edition of Walter Rauschenbusch’s book, Christianity and the Social Crisis – In the 21st Century (HarperOne). His work at Princeton includes strengthening the interfaith community on campus. He is the Co-Director of the Program on Religion, Diplomacy and International Relations at The Liechtenstein Institute on Self Determination at Princeton University.

Print Friendly, PDF & Email

Articles, Economics

Post navigation

PREVIOUS
Earthquake!
NEXT
County Has Viable Alternatives to Library Privatization

Join Our Mailing List

Leave a Reply Cancel reply

Your email address will not be published.

DONATE TO THE FOOD BANK OF NEVADA COUNTY

(CLICK IMAGE)

DONATE TO NEVADA COUNTY RELIEF FUND (click image below)

Erika Lewis, Shaye Cohn, Craig Flory – Got A Mind To Ramble

Jack Kornfield: A Steady Heart in Time of Corona Virus (Part I)

Tara Brach: A Steady Heart in Time of Corona Virus (Part II)

Subscribe to Sierra Voices Journal

Recent Posts

  • How Much Better Off Would America Be if 6 Republican Presidents Hadn’t Stolen the White House?
  • Timothy Snyder: “It was clear to me in October that Trump’s behavior presaged a coup, and I said so in print”
  • The Most Urgent Issue in U.S. Politics is Not Biden or Trump, Not Who is President This Time
  • How can America heal from the Trump era? Lessons from Germany’s transformation into a prosperous democracy after Nazi rule
  • We Need More in Congress Like Jamie Raskin

Recent Comments

  • Douglas Keachie on The Most Urgent Issue in U.S. Politics is Not Biden or Trump, Not Who is President This Time
  • The Most Important Issue in US Politics is Not Biden or Trump, or Even Who is President This Time on How to stop an Insurrection Caucus: These reforms could reduce GOP extremism and save our democracy
  • (Posted by) Don Pelton on GOP Warns Dems About Court Packing (Cartoon)
  • Criminal Incompetence, Malignant Ignorance Will Lead to Hunger and Violence on A Nice Depression Now Benefits the GOP in 2022 and 2024
  • togel singapura hari ini on How Wall Street Has Turned Housing Into a Dangerous Get-Rich-Quick Scheme — Again

Archives

  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • November 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • July 2018
  • June 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • December 2015
  • June 2015
  • May 2015
  • April 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • January 2014
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009

Categories

  • Aging
  • Articles
  • Atlas Obscura
  • Authoritarianism
  • Black Lives
  • Black Lives Matter
  • Blog
  • Buddhism
  • Cartoon
  • Climate Change
  • Constitution
  • Corona Virus
  • Corruption
  • Depression
  • Disenfranchisement
  • Economics
  • Education
  • Election Fraud
  • Environment
  • Farming
  • Fascism
  • Fire!
  • Food Insecurity
  • Foreign Policy
  • Forest Management
  • Gender
  • Health Care
  • History
  • Humor
  • Hunger
  • Ignorance
  • Labor
  • Local
  • Masks
  • Medical Care
  • Men
  • Mental Health
  • Middle Class
  • Mining
  • MMT
  • Modern Monetary Theory
  • Music
  • Native Americans
  • Pandemic
  • Parenting
  • Poetry
  • Police
  • Politics
  • Press
  • Race
  • Reviews
  • Revolution
  • Right-wing terrorism
  • Russiagate
  • Science
  • Technology
  • Trump Virus
  • Tyranny
  • Uncategorized
  • Voting
  • War
  • War on Government
  • Water
  • Watersheds
  • Wildfires

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
© 2021   All Rights Reserved.