I guess you could look at the collapse of our financial institutions in one of two ways: it’s either A) a revisit to It’s a Wonderful Life, or B) the countdown to Armageddon. Let’s look at the second bailout bill, Emergency Economic Stabilization Act of 2008, just passed by Congress.
The first bailout bill’s defeat in the House sent “the Dow Jones industrial average plummeting almost 778 points, its worst one-day point loss on record.”
“One possibility being considered is a process known as a reverse auction, in which the winners would be the financial firms willing to sell their assets for less money to the government, say 50 cents on the dollar instead of 60 cents.”
“The legislation that Paulson sent Congress two weeks ago was only three pages long. It grew to 110 pages during negotiations with key lawmakers who objected to giving the administration sweeping authority with no congressional oversight.”
“It will be our job to enact—and I think it will be comparable to what Franklin Roosevelt and the Congress did in the New Deal—a set of regulations for all of the financial industry,” said House Financial Services Chairman Barney Frank, D-Mass.
“Leaders promised the biggest changes in government regulation of financial companies since the 1930s.”
Interpretation A
The stock market collapse creates a run on the banks leading to the Great Depression. George Bailey (Jimmy Stewart), CEO of the Bailey Building and Loan attempts to calm nervous account-holders.
“I just came from the bank (let’s call this bank the predatory mortgage lender),” an excited man tells the frightened crowd. “Potter’s paying 50 cents on the dollar!”
“Are you going over to Potter?” one man asks another.
“Now wait a minute, here. Wait a minute,” George pleads. “Don’t you see what’s happening here? Don’t you see? Potter isn’t selling, he’s buying. If he gets hold of this building and loan (let's call this Freddie and Fannie) there won’t be another decent home built in this town.”
Interpretation B
The financial collapse is seen as just one more sign of the End of Days. The collapse leads to a takeover by government authorities which will lead to the government owning millions of homes and properties and business which will lead to a one world government and a one world financial system, setting the stage for the entrance of the AntiChrist.
“And he causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.
Revelation 13:16,17