Oregon Struggles . . . because of Wall Street
Oregon's Link To The Fate Of Wall Street's Fortunes
By Randall Edwards, Oregon State Treasurer
The Oregonian
September 30, 2008
As Oregon's treasurer and fiduciary to billions of state assets, I'm growing more and more alarmed about the developing financial crisis on Wall Street, Congress' inaction and the impact it is having on Oregon.
Congress has failed to pass a bipartisan financial market intervention plan to rescue the troubled credit markets. This package would have insulated Main Street from the meltdown on Wall Street. It would have also paid back taxpayers and reformed how business is done on Wall Street. Failure to pass the rescue plan is a great disappointment for Oregon, and Monday brought the single-greatest point drop in the Dow Jones industrials index.
Without a bill, the ability for Oregonians to be able to get credit for buying a home or a car, or for small businesses to get loans for operations, will dry up. What's more, stock market returns this year have already been tough on families. With the market dropping, their savings and nest eggs are shrinking even more and could take years to grow again.
Oregon is already feeling the effects of the slowing economy with unemployment growing and home values dropping. The state's revenues had fallen nearly $120 million before the Wall Street crisis. Any deepening or lengthening of this recession could have catastrophic consequences on the vital services the state provides its citizens.
Oregon is also feeling the impact in other ways.
The various funds I oversee have lost value because of the fall in the market, and that will bring new challenges to the state. For example, the common school fund pays out tens of millions of dollars to schools in Oregon. Its earnings have dropped, leaving less money for schools and putting more pressure on the general fund to make up the difference.
The bond market is a mess. I've stopped selling bonds for Oregon because there is too much uncertainty and because interest rates have skyrocketed. These bonds are critical investments in Main Street and pay for affordable housing, energy efficiency, education facilities, roads and bridges.
The financial package before Congress is the starting point to get the markets going. Given the magnitude of the remedy, it's essential that there is appropriate oversight and transparency of the investment that taxpayers are being asked to make. But time is of the essence and Congress must act now to bring certainty and liquidity to the markets.
Delay and inaction are proving far worse.
Randall Edwards is treasurer of Oregon.
What to do in an Earthquake !!
Lynn Heatley, R.N., Emergency Services Consultant
May I recommend a few things that could be very important and possibly life saving in the event that we might experience a major earthquake sometime in our lifetime. Here is a quick link that is a fun quiz that tests our "readiness" of what to do in an earthquake. It takes about a minute to do and has a great list of resources at the end:
http://www.nwcn.com/sharedcontent/features/flash/quake/during.htmlAlso, here is a wonderful 40 page handbook (in pdf form) that I would recommend you to print out (or at least save it on your computer), it is extremely valuable and would help you walk through things after an earthquake.
http://lafd.org/eqbook.pdfPraying you are doing well and that the Lord will grant us wisdom and protection if disasters do occur and that the Lord would help us to shine for Him, whether it is in the midst of a storm or in the place of peace.
Here to serve you . . .
Lynn Heatley R.N.
Prayercntn@aol.com
Mayor's leadership brings a blessing upon his city
Click HERE and listen to Mayor Langford
By Donna Russell
CBNNews.com
April 16, 2008
CBNNews.com - Birmingham Mayor Larry Langford addresses the City Council to report on his recent Family Summit and his next step - a call for prayer and repentence. He says it's the latest in an effort to see the hearts and souls of Birmingham residents changed in order to bring peace to the city.
Langford believes city-wide repentence and prayer will bring the miracle the Magic City needs from God to see murder and others crime decline. Click on the player to watch more of what he said to city leaders.
The Mayor has strong words for residents including Christians and non-Christians alike regarding the root of Birmingham's problems.
RELATED STORY:
Crime Ridden City Called to Prayer
Life and Character of Civil Institutions in USA
The Christian Life and Character of the Civil Institutions of the United States
"I was debating an ACLU attorney at Christmas on an NPR station. I pulled out a Xerox copy of The Christian Life and Character of the Civil Institutions of the United States and said to her: "Until you answer this book, the ACLU can't make a case against America's Christian founding." She was shocked when she saw it. She asked where I had gotten it. The only thing that gave her relief was the fact that the book was not in print. BUT NOW IT IS!
"Be afraid ACLU. Be very afraid. Benjamin F. Morris packs The Christian Life and Character with page after page of original source material making the case that America was founded as a Christian nation. The evidence is unanswerable and irrefutable. This 1000-page book will astound you and send enemies of Christianity into shock." Hardback, 1060 pages
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CD-ROM contains searchable/printable edition of The Christian Life & Character. It's great for cutting and pasting into articles and research papers!
Pray for Your City/State Jeremiah 29:1-13
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ABOUT 7X7 - National Day of Prayer May 1, 2008Are you willing to commit to pray for our country seven days a week? Are you able to set aside time in your car, during your coffee break, or before bedtime? We want to challenge you make this prayer commitment.
7x7 involves praying for seven centers of power seven days a week: Government, Military, Media, Business, Education, Church and Family. By remembering these specific prayer points, we can cover all Americans with God's power.
Together, we will see positive change!
REMEMNBER Also the Global Day of Prayer - May 17 - 26
GDoP - PRAYER GUIDE
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