Headlines from the New York Times for Wednesday, November 8, 2017
How Business Titans, Pop Stars and Royals Hide Their Wealth
James H. Simons, a reserved mathematician and hedge fund operator from Boston now approaching 80, is a big Democratic donor. Warren A. Stephens, a 60-year-old golf enthusiast once called the king of Little Rock, Ark., inherited a family investment bank and became a booster of conservative Republicans.
But Mr. Simons and Mr. Stephens are both billionaires who have used the services of offshore finance — the trusts and shell companies that the world’s wealthiest people use to park their money beyond the reach of tax collectors and out of the public eye.
Mr. Simons was the main beneficiary of a private trust, never previously described, that was one of the largest in the world. In response to recent questions about the trust, Mr. Simons said that he had transferred his share to a Bermuda-registered charitable foundation.
Mr. Stephens used an opaque holding company to own an approximately 40 percent stake in a loan business accused by the federal Consumer Financial Protection Bureau of cheating working-class and poor Americans. While earning millions from the investment, Mr. Stephens helped finance a political onslaught against the bureau, never mentioning his personal connection to the fight.
Readings from Proverbs for Wednesday, November 8, 2017
The invitation in yesterday’s reading was to love God and to obtain wise direction from him. The alternative is to love self and to obtain direction from people who disregard God’s leadership. Temptation is always enticing, or it wouldn’t tempt us.
Friends in Alcoholics Anonymous encourage us to “play the tape” all the way to the end. They know that giving in to the temptation of self-will ends in disaster. So does the author of Proverbs.
Proverbs 1.10-13 – My son, if sinful men entice you, do not give in to them. If they say, “Come along with us; let’s lie in wait for innocent blood, let’s ambush some harmless soul; let’s swallow them alive, like the grave, and whole, like those who go down to the pit; we will get all sorts of valuable things and fill our houses with plunder;
Proverbs 1.18 – These men lie in wait for their own blood; they ambush only themselves!
Prayers for Wednesday, November 8, 2017
Dear God, please help us to choose to love you and to follow your direction.