Tuesday, July 11, 2006

Gouging with Interest

Nehemiah 5 provides an interesting slant on loan interest. Nehemiah scolded the lenders in Israel, saying,
A great protest was mounted by the people, [saying] ...

"We're having to mortgage our fields and vineyards and homes to get enough grain to keep from starving."

And others said, "We're having to borrow money to pay the royal tax on our fields and vineyards.

I got really angry when I heard their protest and complaints. After thinking it over, I called the nobles and officials on the carpet. I said, "Each one of you is gouging his brother."

"We did everything we could to buy back our Jewish brothers who had to sell themselves as slaves to foreigners. And now you're selling these same brothers back into debt slavery!"

"What you're doing is wrong. Is there no fear of God left in you?"

"I and my brothers and the people working for me have also loaned them money. But this gouging them with interest has to stop. Give them back their foreclosed fields, vineyards, olive groves, and homes right now. And forgive your claims on their money, grain, new wine, and olive oil."

I think of this sort of thing when I think about what happened at the bank this past week. Due to an arithmetic error in the checkbook, and then being away from the Internet on vacation for a week, I'm all of a sudden $180 poorer because of nine overdraft fees. I can understand the bank needing to cover some expense in such a situation, and wanting to discourage overdrafts, but this seems, well, evil, to me.

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