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Banks and Bailouts, Tom Phelps

ListenDownloadTom Phelps

Tom Phelps of Manatt, Phelps & Phillips, LLP describes how he built his practice serving the banking industry. At one point in the 80's he had 13 clients in trouble with the FDIC, so that gives him some keen insights into the current crisis, "this feels like been there, done that".

What to listen for: From the earliest days when Tom and Chuck Manatt started the firm to the current economic crisis, you'll get a sense of the man and his career. When we switch gears and talk about "Tom Phelps, the man", he begins by telling me "you may be surprised". You may be, too.

Show #212 (51:30)

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Comments

Hi Frank, It sounds like you are raising you're son very well ($200 is a lot of money).

I never thought of legalizing marijuana as a way to devalue other drugs. I thought that was very insightful and a strong argument.

There are spiritual teachings, I think in every religion, that say our good deeds don't matter if we are doing them just because we are supposed to, we must also honestly care for others in our heart. Tom Phelps sounds like he is not just serving Jesus as he claims but also has sincere concern for others.

I don't promote any particular religion, but on the topic of forgiveness I think the story of the Good Samaritan is useful. In the story Jesus says that the Good Samaritan is going to heaven. That religion still exists today, but no one can convert to it as one has to be born into it.

Sometimes humans get hung up on issues that religious texts teach; God is not concerned about. If one believes God is not hung up on it, they may find it easier to forgive.

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