In the daily lectionary for today, from Evangelical Lutheran Worship, the psalm is Psalm 28. It is the cry of one who considers himself to have been wronged, and who is looking to God to give judgment in his favor.
To you, O Lord, I call;
my rock, do not refuse to hear me,
for if you are silent to me,
I shall be like those who go down to the Pit....
Repay them according to their work,
and according to the evil of their deeds;
repay them according to the work of their hands;
render them their due reward.
It is interesting to read this Psalm after reading the coverage of the bailout plan Congress has formulated for the financial sector of our economy. One of the sticking points is how to punish those responsible for the mess, i.e., the top executives who should have provided sound financial and (I would submit, moral) leadership.
At the root of the financial crisis, of course, is sin. The sin of commission is the sin of personal greed. The sin of omission has been ignoring the needs of the community of investors in the companies that are in trouble.
I hasten to say that I'm obviously not smart enough to comment intelligently on all of this. Heck, I'm not even smart enough to understand why so many billions of dollars were loaned to people who did not have the ability to pay the loans back! I'm also not smart enough to understand why the penalties on top executive pay are so weak. According to the New York Times, here's the penalty: "the government would limit the tax deductibility of executive pay to $500,000." Five hundred thousand dollars?! (Of course, the corporate leaders responsible for the mess would receive many times more than $500,000 in annual compensation.)
If I was smart enough to understand any of this, here's what I would suggest. I would suggest that the top executives at the firms which made the loans to people who do not have the ability to pay the loans back would be limited to the salaries of public school teachers who have equivalent seniority in their professions. Or fire fighters and police officers. Or members of the military. Or (dare I say it?) of ELCA pastors. It would still allow them a comfortable life, with health insurance and a pension, and a modest house of a couple thousand square feet, and a couple of mid-priced Toyotas. And the investment firms would then be able to refund millions of dollars earmarked for executive compensation to the government, towards the $700 billion cost of the bailout that will soon become the responsibility of those making the salaries of school teachers and fire fighters and police officers and military members and ELCA pastors.
Of course, the lingering challenge for the years ahead will be this: How can the many be protected from the sinful greed of the few?

