The Parable of Fannie Mae •• Some Blog Site

The Parable of Fannie Mae

Aug

2011

This might make more sense if you’re familiar with the news story that picked up steam last week about Fannie Mae. If you haven’t been paying attention to the news, read this article or this article to get up to speed, then come back here and continue.

And you should also be familiar with the parable found in Matthew 18:23-35. If you are not, go read the parable of the ungrateful servant, then come back here and continue.

Therefore is the kingdom of heaven likened unto a certain president, which would take account of his agencies.

And when he had begun to reckon, one was brought unto him, which owed $317,000,000,000.

But forasmuch as it had not to pay, the president commanded it to be sold, and its officers, and all that it had, and payment to be made.

The agency therefore fell down, and pleaded with him, saying, “Mr. President, have patience with me, and I will pay thee all.”

Then the president of that country was moved with compassion, and bailed out the agency.

But the same agency went out, and found one of its mortgagors, which owed it $5,000: and it laid hands on him, and took him by the throat, saying, “Pay me what you owe!”

And the homeowner fell down at its doors, and besought it, saying, “Have patience with me, and I will pay thee all.”

And it would not: but went and foreclosed the house, till it should be sold at auction.

So when the other mortgagors saw what was done, they were very sorry, and came and told unto the president all that was done.

Then the president, after that he had called the agency, said unto it,
“O thou wicked bureaucracy, I forgave thee all that debt, because thou desiredst me:
Shouldest not thou also have had compassion on thy debtors, even as I had pity on thee?”

And the president was wroth, and delivered it unto bankruptcy, till it should pay all that was due unto him.

In case you had trouble following the story:
Original version:
king forgives servant,
servant does not forgive other servant,
king gets mad at first servant.

USA version:
Fannie Mae gets bailed out so that it can help people stay in their homes,
Fannie Mae keeps its money and continues foreclosing on people,
President/Congress gets mad at Fannie Mae.

For a nice ending to the story, we would see some oversight of the quasi-governmental agencies such that the bailout money is used for its intended purpose.

Even better, the bailout money could be taken from them and given directly to the people – cut out the middleman. In which case tax money is taken from the people and then given back to the people. Might as well just not tax ’em.

So likewise shall my heavenly Father do also unto you, if ye from your hearts forgive not every one his brother their trespasses.

Matthew 18:35