The Seven Principles (Nguzo Saba) of Kwanzaa are:
- Umoja (oo-MOH-jah): Unity
Success starts with Unity. Unity of family, community, nation and race.
- Kujichagulia (koo-jee-chah-goo-LEE-ah): Self-Determination
To be responsible for ourselves. To create your own destiny.
- Ujima (oo-JEE-mah): Collective work and responsibility
To build and maintain your community together. To work together to help one another within your community.
- Ujamaa (oo-jah-MAH): Collective economics
To build, maintain, and support our own stores, establishments, and businesses.
- Nia (NEE-ah): Purpose
To restore African American people to their traditional greatness. To be responsible to Those Who Came Before (our ancestors) and to Those Who Will Follow (our descendants).
- Kuumba (koo-OOM-bah): Creativity
Using creativity and imagination to make your communities better than what you inherited.
- Imani (ee-MAH-nee): Faith
Believing in our people, our families, our educators, our leaders, and the righteousness of the African American struggle.
being that I’m from NY and have worked on Wall Street with Lehman…I was saddened, and a bit fearful when I saw the headlines.. Then after my prayers,- I know that God is still on the throne and all that is, will not break my spirit. With renewed strength, my prayers are with those whose lives are greatly impacted by the current state of the U.S.
Financial Giants Fall Victim to Mortgage Crisis
Weighed down by losses in the U.S. mortgage crisis, the stability of major financial institutions continues to be shaky. On Monday, U.S. investment bank Lehman Brothers Holding Inc. filed for bankruptcy and Bank of America announced that it would be buying struggling Merrill Lynch.
Lehman’s is the largest casualty, so far, in the past year in the ongoning credit crisis. Lehman filed for bankruptcy on Monday following a failed attempt over the weekend to find a buyer.
Concerns over the stability of other firms also looms, particularly after the U.S. government’s decision not to provide any bailout for Lehman. In March the government provided financial backing for JPMorgan’s takeover of Bear Stearns, the first big bank to fold under the mortgage crisis.
Also on Monday, No.2 U.S. bank giant, Bank of America announced it would be buying Merrill Lynch in a $50 billion deal.
|“Acquiring one of the premier wealth management, capital markets, and advisory companies is a great opportunity for our shareholders,” Bank of America Chairman and Chief Executive Officer Ken Lewis said in a statement. “Together, our companies are more valuable because of the synergies in our businesses.”The buyout is expected to close in the first quarter of 2009.
Source: Reuter News, Ellis Mnyandu (9/15/08) and Associated Press, Madlen Read and Tim Paradis(9/15/08)