3.9% interest

by indahsempurna 23 Replies latest watchtower scandals

• 

  Pistoff

  I was never comfortable with the Society lending money.

  Is it done in other religions? I have no idea.

  It seems like a conflict of interest; I have heard of areas where the CO pushes halls into big remodel projects, or new halls, using Society money. (Locally they are trying to sell the current property for a profit, and rebuild next to it. The original hall was built in mid 80's, quick build. They are having a hard time selling it for what they were told it was worth; they have already bought the lot next door.)

  And I really hated the self insured policy; you CAN'T collect on it. We tried. I moved that we go elsewhere, but that was viewed as untheocratic.

  Go figure.
• 

  Paralipomenon

  I remember a bit more recently, in my father's congregation they got a quote from the WTS for their new hall. One of the elders got a cheaper quote from a bank.
  
  There was alot of grumbling and the WTS matched the lower rate.
• 

  IP_SEC

  The interest bothers me not.

  What used to bother me back when I gave a care was that: A congo borrows money from the society to build a hall, then they pay the money back. Then when they sell the hall, they give the proceeds to the WTS and borrow more money to a new one. Its a perpetual scam with the WTS as beneficiary.
• 

  BabaYaga

  ...erggggg!!!!
  
  Get free money, loan the money back with interest, and walk away with the deed...
  
  ...uhm...
  
  ...wow.
  
  In a sense, you gotta hand it to 'em. That's a BEAUT. And legal and it has worked so well for so many years...
  
  Okay I think I'm going to be sick.
  
  ...
  
  (no wonder they have such a busy legal department.)