nancylebov (nancylebov) wrote,
nancylebov
nancylebov

Jewish law and the financial crisis

Talmud covers a huge range of topics, both current for when it was written and hypothetical. The more exotic stuff (like kashrut) seems to be better known, but there's also a lot of practical ethics like not damaging other people's reputations unless there is a strong positive reason for doing so, even if what you're saying is true.

So, I was wondering how much of what has caused the financial crisis would be against Jewish law. I'm sure that giving good ratings to bad investments would be illegal, as would lying about what's in mortgage contracts, but what about giving bonuses that tempt people to push bad mortgage contracts? Betting money you don't have on things you don't own? Making investments you don't understand? Economizing at a bank by not keeping records? Letting yourself believe that a market can't go down?
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