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More Connected Than We Think

by Jim Wallis 03-05-2009 | 3:30pm
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Last Friday, I met a vice president for the insurance giant AIG. While I try to be a gracious person, senior management for a giant corporation highly culpable for our current crisis and currently eating up billions in public funds wasn't my top choice for grace that day.

She was worried and convinced that on Monday she would be out of a job. For 20 years, she explained to me, she had worked hard and with meticulous care watched and monitored the investments in the portfolio she managed. Sometimes it bothered her that others were posting higher profits more quickly, but she stuck to her strategy and most years was successful. And now, her retirement savings were almost gone. All the stock she owned of her company that just 18 months ago was worth over $70 a share is now under 50 cents a share.

With AIG back in the headlines this week, the purpose of this post is not to argue for or against continued bailout money, or whether it's in the form of purchasing preferred stock or buying up bad assets. What struck me during this conversation is that by her own description, she had done exactly what she was supposed to do. She had evaluated businesses and invested capital into the places where she thought it could be best used. As a result, her portfolio experienced slow and steady growth. Unlike many of her colleagues, she was not obsessed with quarterly profits, gambling with other people's money or leveraging at unbelievable rates to turn quick profits, but she now was in the same boat as those who did.

In today's global economy, we are connected more than we realize. Our own well-being is connected to the well-being of others across the globe that we do not know and will probably never meet. In the same way, our own irresponsibility affects much more than just ourselves. I obey the speed limit (most of the time) not just for the safety of my family, but for the safety of all those with whom I share the road. Police officers enforce the limit not just for my safety, but for the safety of all those on the road.

While we evaluate our own response, our local churches' response, and our government's response to this economic crisis -- we must remember that we are more connected than we think.

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by: Capfan4ever

03-05-2009 @ 9:11pm

An article in the Winter 2009 issue of Yes! magazine gives us an example of neighborhoods joining together to form a trust. By joining together they strengthen the bonds of community and provide a stable environment that protects its neighbors from the current turmoil. The article cites that of 3,115 land trust homeowners sampled, only two went into foreclosure. By forgoing the quest for profit and invest in the common good, these trusts provide us with an example of sustainability.

by: xfree9

03-05-2009 @ 9:58pm

I think all of us from any perspective would do well to remember Jim's words here. Jim, I rarely find where we agree on "social" things, and maybe the level of "connection" we believe exists across the world is where we differ, but kudos on the anecdote.

by: commonsense247

03-06-2009 @ 2:04am

Well said, Jim. Those who lump all corporations and CEO's into the evil category are understandably upset and disillusioned, but are too quickly drinking the koolaid offered by those who promote class warfare and a government to be become 'he that giveth and taketh away'.
We need to be focused on a complete overhaul in our mindset as a country... that ethics and responsibility be applied to every position, person, company, CEO, celebrity, politician, professional sports player, retail worker, etc.. and in a consistent manner.
Only then will trust and respect return to the way people view each other and deal with one another, and the boundaries and clarity will give true hope to our youth - not rhetoric during a campaign that is trampled once in office.

by: jonabark

03-07-2009 @ 7:34am

So commonsense247, by those who promote class warfare do you mean the "freemarketeers/neocons/ war sluts and just plain cons who rigged the entire country to benefit a few? Cuz that is definitely some bad koolaid.

Did this person blow the whistle about those at AIG insuring scam derivatives by the billions? The global economy was sitting on a house of sand and the rains are falling and the winds are blowing.

by: coffeeguy50

03-05-2009 @ 5:20pm

Well said Jim...we are all in this together. The same can be said for those who did not over leverage their homes and now are impacted by foreclosures in their neighborhoods. They have seen their home prices fall not because of tehir actions, but the actions of others. This is a very difficult challenge. Which is why it worries me about such a rush to throw money at the problem without truly understanding how connected all this is.

by: scat

03-09-2009 @ 4:04am

I am still amazed at professionals in the banking/investment /insurance business who complain about their losses, that they didn't see this coming. My sister was an amateur real estate and stock investor and at least 8or 9 years ago she predicted just what is happening today. How is that people who are professionals in these businesses have no shame about claiming ignorance? Were they blinded by greed? Was it incompetence? At the very least, they should be put in retraining for a job with less responsibility and should not be the ones running the companies we are now bailing out.

by: jonabark

03-09-2009 @ 7:59pm

The sad thing is that the people who did see this coming and predicted its nature and extent fairly accurately (Nouriel Roubini, Danny Schecter, Jim Kunstler, Nomi Prins, Naomi Klein, Ellen Brown) have no greater voice in the Main Stream Media. Same with the Iraq War. The country is drowning in propaganda. We still don't know the actual solvency of the big banks and so far Obama is caving to Goldman Sachs and the bankers, caving to big Coal and the outrageous lie of clean coal, caving to HMOs, preventing the release of prisoners despite no evidence, and wafflling on his tax promises. Where's the change?

by: Capfan4ever

03-05-2009 @ 9:11pm

An article in the Winter 2009 issue of Yes! magazine gives us an example of neighborhoods joining together to form a trust. By joining together they strengthen the bonds of community and provide a stable environment that protects its neighbors from the current turmoil. The article cites that of 3,115 land trust homeowners sampled, only two went into foreclosure. By forgoing the quest for profit and invest in the common good, these trusts provide us with an example of sustainability.

by: xfree9

03-05-2009 @ 9:58pm

I think all of us from any perspective would do well to remember Jim's words here. Jim, I rarely find where we agree on "social" things, and maybe the level of "connection" we believe exists across the world is where we differ, but kudos on the anecdote.

by: commonsense247

03-06-2009 @ 2:04am

Well said, Jim. Those who lump all corporations and CEO's into the evil category are understandably upset and disillusioned, but are too quickly drinking the koolaid offered by those who promote class warfare and a government to be become 'he that giveth and taketh away'.
We need to be focused on a complete overhaul in our mindset as a country... that ethics and responsibility be applied to every position, person, company, CEO, celebrity, politician, professional sports player, retail worker, etc.. and in a consistent manner.
Only then will trust and respect return to the way people view each other and deal with one another, and the boundaries and clarity will give true hope to our youth - not rhetoric during a campaign that is trampled once in office.

by: jonabark

03-07-2009 @ 7:34am

So commonsense247, by those who promote class warfare do you mean the "freemarketeers/neocons/ war sluts and just plain cons who rigged the entire country to benefit a few? Cuz that is definitely some bad koolaid.

Did this person blow the whistle about those at AIG insuring scam derivatives by the billions? The global economy was sitting on a house of sand and the rains are falling and the winds are blowing.

by: scat

03-09-2009 @ 4:04am

I am still amazed at professionals in the banking/investment /insurance business who complain about their losses, that they didn't see this coming. My sister was an amateur real estate and stock investor and at least 8or 9 years ago she predicted just what is happening today. How is that people who are professionals in these businesses have no shame about claiming ignorance? Were they blinded by greed? Was it incompetence? At the very least, they should be put in retraining for a job with less responsibility and should not be the ones running the companies we are now bailing out.

by: jonabark

03-09-2009 @ 7:59pm

The sad thing is that the people who did see this coming and predicted its nature and extent fairly accurately (Nouriel Roubini, Danny Schecter, Jim Kunstler, Nomi Prins, Naomi Klein, Ellen Brown) have no greater voice in the Main Stream Media. Same with the Iraq War. The country is drowning in propaganda. We still don't know the actual solvency of the big banks and so far Obama is caving to Goldman Sachs and the bankers, caving to big Coal and the outrageous lie of clean coal, caving to HMOs, preventing the release of prisoners despite no evidence, and wafflling on his tax promises. Where's the change?

by: coffeeguy50

03-05-2009 @ 5:20pm

Well said Jim...we are all in this together. The same can be said for those who did not over leverage their homes and now are impacted by foreclosures in their neighborhoods. They have seen their home prices fall not because of tehir actions, but the actions of others. This is a very difficult challenge. Which is why it worries me about such a rush to throw money at the problem without truly understanding how connected all this is.

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by: coffeeguy50

03-05-2009 @ 5:20pm

Well said Jim...we are all in this together. The same can be said for those who did not over leverage their homes and now are impacted by foreclosures in their neighborhoods. They have seen their home prices fall not because of tehir actions, but the actions of others. This is a very difficult challenge. Which is why it worries me about such a rush to throw money at the problem without truly understanding how connected all this is.

by: coffeeguy50

03-05-2009 @ 5:20pm

Well said Jim...we are all in this together. The same can be said for those who did not over leverage their homes and now are impacted by foreclosures in their neighborhoods. They have seen their home prices fall not because of tehir actions, but the actions of others. This is a very difficult challenge. Which is why it worries me about such a rush to throw money at the problem without truly understanding how connected all this is.

by: Capfan4ever

03-05-2009 @ 9:11pm

An article in the Winter 2009 issue of Yes! magazine gives us an example of neighborhoods joining together to form a trust. By joining together they strengthen the bonds of community and provide a stable environment that protects its neighbors from the current turmoil. The article cites that of 3,115 land trust homeowners sampled, only two went into foreclosure. By forgoing the quest for profit and invest in the common good, these trusts provide us with an example of sustainability.

by: Capfan4ever

03-05-2009 @ 9:11pm

An article in the Winter 2009 issue of Yes! magazine gives us an example of neighborhoods joining together to form a trust. By joining together they strengthen the bonds of community and provide a stable environment that protects its neighbors from the current turmoil. The article cites that of 3,115 land trust homeowners sampled, only two went into foreclosure. By forgoing the quest for profit and invest in the common good, these trusts provide us with an example of sustainability.

by: xfree9

03-05-2009 @ 9:58pm

I think all of us from any perspective would do well to remember Jim's words here. Jim, I rarely find where we agree on "social" things, and maybe the level of "connection" we believe exists across the world is where we differ, but kudos on the anecdote.

by: xfree9

03-05-2009 @ 9:58pm

I think all of us from any perspective would do well to remember Jim's words here. Jim, I rarely find where we agree on "social" things, and maybe the level of "connection" we believe exists across the world is where we differ, but kudos on the anecdote.

by: commonsense247

03-06-2009 @ 2:04am

Well said, Jim. Those who lump all corporations and CEO's into the evil category are understandably upset and disillusioned, but are too quickly drinking the koolaid offered by those who promote class warfare and a government to be become 'he that giveth and taketh away'.
We need to be focused on a complete overhaul in our mindset as a country... that ethics and responsibility be applied to every position, person, company, CEO, celebrity, politician, professional sports player, retail worker, etc.. and in a consistent manner.
Only then will trust and respect return to the way people view each other and deal with one another, and the boundaries and clarity will give true hope to our youth - not rhetoric during a campaign that is trampled once in office.

by: commonsense247

03-06-2009 @ 2:04am

Well said, Jim. Those who lump all corporations and CEO's into the evil category are understandably upset and disillusioned, but are too quickly drinking the koolaid offered by those who promote class warfare and a government to be become 'he that giveth and taketh away'.
We need to be focused on a complete overhaul in our mindset as a country... that ethics and responsibility be applied to every position, person, company, CEO, celebrity, politician, professional sports player, retail worker, etc.. and in a consistent manner.
Only then will trust and respect return to the way people view each other and deal with one another, and the boundaries and clarity will give true hope to our youth - not rhetoric during a campaign that is trampled once in office.

by: jonabark

03-07-2009 @ 7:34am

So commonsense247, by those who promote class warfare do you mean the "freemarketeers/neocons/ war sluts and just plain cons who rigged the entire country to benefit a few? Cuz that is definitely some bad koolaid.

Did this person blow the whistle about those at AIG insuring scam derivatives by the billions? The global economy was sitting on a house of sand and the rains are falling and the winds are blowing.

by: jonabark

03-07-2009 @ 7:34am

So commonsense247, by those who promote class warfare do you mean the "freemarketeers/neocons/ war sluts and just plain cons who rigged the entire country to benefit a few? Cuz that is definitely some bad koolaid.

Did this person blow the whistle about those at AIG insuring scam derivatives by the billions? The global economy was sitting on a house of sand and the rains are falling and the winds are blowing.

by: scat

03-09-2009 @ 4:04am

I am still amazed at professionals in the banking/investment /insurance business who complain about their losses, that they didn't see this coming. My sister was an amateur real estate and stock investor and at least 8or 9 years ago she predicted just what is happening today. How is that people who are professionals in these businesses have no shame about claiming ignorance? Were they blinded by greed? Was it incompetence? At the very least, they should be put in retraining for a job with less responsibility and should not be the ones running the companies we are now bailing out.

by: scat

03-09-2009 @ 4:04am

I am still amazed at professionals in the banking/investment /insurance business who complain about their losses, that they didn't see this coming. My sister was an amateur real estate and stock investor and at least 8or 9 years ago she predicted just what is happening today. How is that people who are professionals in these businesses have no shame about claiming ignorance? Were they blinded by greed? Was it incompetence? At the very least, they should be put in retraining for a job with less responsibility and should not be the ones running the companies we are now bailing out.

by: jonabark

03-09-2009 @ 7:59pm

The sad thing is that the people who did see this coming and predicted its nature and extent fairly accurately (Nouriel Roubini, Danny Schecter, Jim Kunstler, Nomi Prins, Naomi Klein, Ellen Brown) have no greater voice in the Main Stream Media. Same with the Iraq War. The country is drowning in propaganda. We still don't know the actual solvency of the big banks and so far Obama is caving to Goldman Sachs and the bankers, caving to big Coal and the outrageous lie of clean coal, caving to HMOs, preventing the release of prisoners despite no evidence, and wafflling on his tax promises. Where's the change?

by: jonabark

03-09-2009 @ 7:59pm

The sad thing is that the people who did see this coming and predicted its nature and extent fairly accurately (Nouriel Roubini, Danny Schecter, Jim Kunstler, Nomi Prins, Naomi Klein, Ellen Brown) have no greater voice in the Main Stream Media. Same with the Iraq War. The country is drowning in propaganda. We still don't know the actual solvency of the big banks and so far Obama is caving to Goldman Sachs and the bankers, caving to big Coal and the outrageous lie of clean coal, caving to HMOs, preventing the release of prisoners despite no evidence, and wafflling on his tax promises. Where's the change?