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Rediscovering Values: On Wall Street, Main Street, and Your Street

2 Ratings: 1.0
A book by Jim Wallis

"Jim Wallis argues persuasively that the financial crisis is also a moral crisis. A vivid storyteller and prophetic voice, he shows how the worship of markets has led us astray -- and how repairing the economy requires a moral awakening and a new commitment … see full wiki

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Author: Jim Wallis
Publisher: Howard Books
1 review about Rediscovering Values: On Wall Street, Main...
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Finally - a great spiritual read that isn't about converting your friends.

  • Apr 12, 2011
Rating:
+5
People need to read this book, seriously. I first heard about it while watching Jon Stewart years ago during the financial crisis, and finally picked  it up when I was looking for a new book to start on. It talks a lot about VALUES -- and draws up an argument as to how the recent financial crisis that America went through started when we lost sight of right and wrong; that it was more than just the market, banks that were too big to fail and left v. right politics. 

Everybody has something to say about the big bailout that happened. Everybody has somebody they are pointing the finger at. But this book really challenged me to look further than rhetoric, and actually look at my own character. After reading some of the first few chapters, the book made me really think about myself and my impact on today's society/culture.  

The book leans left a bit, but for the most part - feels far from a book about politics. That is interesting  because the author, Jim Walis is an evangelical writer/political activist. But this book isn't really about how you need to convert your non-Christian friends, or how this government should be run on Christian principles -- or my favorite, how Islam is tearing apart America. None of that. It's a true challenge to the reader to think about the financial crisis and a deeper/more spiritual way of how we'll recover from it. 

Two great things about the book that I enjoyed. 

1) The chapter on Detroit. He really puts some light on the motor city. You can feel some deeper attachment since the author is from there. Check out this chapter, it'll really open your eyes on genuine optimism. 

2) The 20 moral exercises. At the end of the book, you'll find a set of exercises that incorporate a lot of the points that led us to our great crisis. These are simple exercises that can really help get your mind in check about what's important to you, and I highly recommend running through some of them often. 

This book won't really sell you on liberal vs. conservative, Christian vs. non-Christian or big businesses vs. small businesses. What it will do is sell you on the need to take a look at YOURSELF before running your mouth about anybody else.

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February 13, 2012
1) The chapter on Detroit. He really puts some light on the motor city. You can feel some deeper attachment since the author is from there. Check out this chapter, it'll really open your eyes on genuine optimism. 2) The 20 moral exercises. At the end of the book, you'll find a set of exercises that incorporate a lot of the points that led us to our great crisis. These are simple exercises that can really help get your mind in check about what's important to you, and I highly recommend running through some of them often.


My Analysis: (1) Detroit had been postponing any meaningful response to customer needs and ways of operating for decades. Finally, the crash forced changes and the stocks are just now returning albeit slowly to the former values.

(2)  We need better governance over derivative transactions, a strengthening of margin requirements and a reform of the Uniform Commercial Code to include derivative transactions as to the rights, duties, obligations and recourse of the parties. We need to tighten mortgage lending and at the same time increase funding for Section 8 Housing. We need to institute more stringent excess consumption taxes on vices of every kind. This alone
should reduce the increasing demand for health care
services of every kind. What is in place is a disease
management system- not a health and wellness system.
 
May 20, 2011
Awesome review, Angelo. Adding this to my to-read list.
 
April 12, 2011
This sounds like a compelling read that everyone would benefit from. I especially like how it's not about some of the old arguments you keep hearing on the news. It makes me think of the following quote: "Why do you look at the speck of sawdust in your brother's eye and pay no attention to the plank in your own eye?" Matthew 7:2-4.
 
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