As I stated above, lots of folks are greatly concerned over the economic woes that face our nation. Over the last several years ordinary citizens were being victimized by corrupt and greedy corporate executives in the sub-prime lending industry. Our firm’s first involvement on that front was in litigation against pay-day lenders, the bottom feeders in the sub-prime lending industry, and we learned that this was a multi-billion dollar industry. I must admit that came as a surprise.
We then got into litigation against companies like Citigroup, Countrywide, Morgan Keegan, and many others we soon found that enormous greed and corruption also existed in their board rooms and below. Instead of just affecting low-income citizens, the victims of fraud now include investors who have put their money in what they were led to believe were safe investments, as well as business owners who borrow money for payrolls and capital building projects on a regular basis.
When the fraud at that level started to be exposed, the media really started paying more than just casual attention to the economic problems and hurt to millions being caused by financial institutions. We have learned lots over the past several years concerning how many in Corporate America operate and it has been quite an education.
Certainly, our country is facing tough economic times and things may even get worse. But, I am confident that there are enough smart folks who really care about our country and all of its people to come up with a real plan that will turn our economy around. The worst thing any of us can do right now is to be negative and let worry consume us.
In fact it’s a time when our faith in God is put to the test. I truly believe that God loves us and will never forsake us regardless of how bad things may look. I have been “broke as a haint” in my life and without my belief in God and a faith that made me realize that my God is all powerful and the source of all that is good, I would have been greatly concerned at that time about my future. Those times passed and I survived, for which I am grateful. I am also confident that the current crisis will pass in due time.
My prayer for you and your families is that you will continue to put your faith in God, trust Him and not worry about the economy and what tomorrow may hold for the United States and for you. God has blessed us and if we hold true to our beliefs, and do not become consumed with doubts and worry, God will continue to bless us now and in the future.
Jere L. Beasley
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