Will Church Leaders Join the Fight Against
Foreclosure?
Rev. Jesse Jackson and Marc Morial at Wall Street Protest in New York (Jan. 2009)
gosp e l today | Sep 7, 2 0 0 9
As the foreclosure crisis of Rainbow PUSH, continues to spiral out of successfully led a meeting of
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control, each week in Atlanta, the steps of the city courthouse are populated with homeowners who have defaulted on their mortgage payments. Some are victims of predatory lending, others have lost their jobs and haven’t found a way to save their homes. These citizens watch in helpless horror as buyers stand ready to bid on their homes and capitalize on their misfortunes. Last Tuesday, Rev. Jesse Jackson, founder and president
concerned members of the Atlanta community along with clergy from across the nation. The meeting focused on the need for activism in the wake of the foreclosure catastrophe. Although many in the media are just now focusing on this burgeoning problem, Jackson had warned of an impending “economic tsunami” back in 2007. Back then, during his annual Wall Street Initiative, he led a few dozen marchers to New York’s Wall Street district.
Rev. Jackson called for lenders to restructure loans, immediately put a halt to foreclosures, and stop auctioning the foreclosed homes. Fargo representative from Mr. Stumpf’s office pledged that he would insure that the president’s office would respond and meet with community representatives in a timely manner. One point of contention was the suggestion that lenders should respond to the massive downturn in the economy by reducing the loan amounts. Wells Fargo insisted that to share the burden would only weaken the economy even more. Several members of the audience had experienced long lags in the lender’s decision in various cases. Wells Fargo admitted that out of over 500,000 cases, they were able to actively deal with less than 50%. Jackson called for lenders to restructure loans, immediately put a halt to foreclosures, and stop auctioning the foreclosed homes. Addtionally, Jackson is requesting that churches rally to fight the foreclosure crisis. For more information: www.rainbowpush.org. gt
Sep 7, 2 0 0 9 | gosp e l today
On December, 11, 2007, the New York Post reported, “Most business people strode past picket-wielding demonstrators, nonplussed by the accusations of “predatory lending” and “white-collar crime” being lobbed from the podium inside the metal barricades one block south of the New York Stock Exchange. As one speaker called on “Wall Street to help out the main street," a suited passerby shook his head and muttered, “Yeah, well, don’t buy something you can’t afford.” These days, a more respectful approach is being taken. In fact, Wells Fargo, the top mortgage lender in the country, responded to Rev. Jackson’s invitation and sent local to national representatives to Tuesday’s meeting— although only one representative was from Mr. Stumpf’s office (Wells Fargo’s President). The group agreed and conceded that a solution needed to be found, but that such a solution would require the collaboration of both the lenders, the community and government. The Wells
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Gospel Music Association Restructures Due to Economy President Resigns
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The Gospel Music Association (GMA) will undergo organizational changes to respond to the current economic recession, and the shifting gospel music industry, according to Ed Leonard, president of Daywind Music Group and the new chairman of the GMA Board of Directors. “The GMA, like many other organizations and businesses, has taken hits during this prolonged downturn in our economy,” Leonard said. “It has forced the GMA Board to evaluate our association’s current business model and to acknowledge that in order to meet current obligations and needs of our members, and to ensure GMA’s vitality in the future; we needed to make some significant changes.” As the volunteer governing body of the GMA, the Board of Directors approved a plan to return the association to a more volunteerdriven operation with a scaled down staff that will facilitate and coordinate GMA events and programs. The first step came in
May when GMA eliminated several paid staff positions. The next step occurred last week when John Styll stepped down from his position as president and CEO of GMA which will allow the Board to substitute a managerial level professional to oversee staff at the GMA office. The position has not yet been filled. “There is no way to adequately summarize John’s contributions to GMA, not only in his professional capacity for the last six years, but in the many more years he has served on the GMA Board of Directors, and on which he will continue to serve as a permanent lifetime member. His action of leaving his position for the benefit of the association tells the story better than my words could,” said Leonard. “We’ve been tightening our belts for some time in this economy,” said Styll, “and now we’re at a point where I think it’s wise to take my own salary off the books. I remain a permanent board member of the GMA and look forward to continuing our work.” gt
Pat Robertson Recovering from Heart Surgery By Bishop Andy C. Lewter, D. Min. Less than 40 years ago the idea of Christian television was as remote and unlikely as a river in the desert, However, all of that changed when Pat Robertson revolutionized the concept and approach of Christian television with the Christian Broadcasting Network (CBN), headquartered in Virginia Beach, VA. CBN set a new standard that many Christian broadcasters aspire toward. Recently, the CBN empire shuttered when its founder and board chairman,
Pat Robertson entered the hospital for heart surgery. The visionary leader of the network endured a 10-hour surgical procedure and is in the midst of recovery. According to doctors, an enlarged 6cm appendage to the left side of the heart which was believed to be the cause of artial fibrillation was removed. “ The prayers of thousands of people kept me on this earth” said a grateful Pat Robertson. It is expected that Robertson will return to the fall schedule, in several weeks. gt
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