Prophecy News Watch – November 9 , 2008 - The Bridge Calvary ...

At Alabama, Lambda Sigma Phi lost about 40 members last year in a split over whetherto become more like a traditional fraternity. "We really stood up against it because wewanted to remain Christian," said Weaver, the president. The group only has about 30members now, which is fine with Weaver and his fraternity brothers. They often feel likethey're under scrutiny for their beliefs, but they say they're not willing to sacrifice theirfaith for parties.Clete Hux, a Presbyterian minister who has two sons in Lambda Sigma Phi, said hehopes the group sticks to its principles. He said he's got a peace of mind that eludesmany parents who send their children off to college. "You know there's not going to beany wild parties going on. They have accountability groups and Bible studies," he said."It's kind of furthering what you as parents instill in your children."9. Other Events To WatchFinancial crisis shifts power to Asia, experts sayhttp://www.jpost.com/servlet/Satellite?cid=1225910045885&pagename=JPost%2FJPArticle%2FShowFullBritish Prime Minister Gordon Brown's whirlwind fundraising tour this week in the GulfStates demonstrates the increasing power of sovereign wealth funds and the shift ofeconomic power to Asia, experts said Wednesday. However they warned that it will takemuch more than a fund-raising trip to the oil-rich Gulf States to help countries like Britainand America cope with the worst global financial crisis since the Great Depression.Brown said he was in search of "hundreds of billions of dollars" to alleviate the crisisthat has hit his country, along with America, particularly hard. "I think there will be moreand more reliance and more of a shift of power toward Asian countries, not only for theoil rich countries, for the Gulf States, it's also true for Singapore, China, Kazakhstan andother countries," said Dan Galai, Professor of Finance at Hebrew University inJerusalem. "Many countries in Asia will continue to accumulate money in sovereignfunds and they will buy ownership in financial institutions that are located in England,Germany, France and the United States."Sovereign wealth funds are state-owned investment funds. They have becomeincreasingly important to troubled financial institutions in the United States and WesternEurope, where some banks have lost up to 80 percent or more of their value due to thefinancial crisis.While these financial institutions will continue to operate in Europe or in the UnitedStates, their ownership will increasingly be in the hands of sovereign funds in Asia,Galai said.