1929 to 1939 marked what was a very trying period in American history. It was the time of the Great Depression. It was during this time that many establishments fell, companies failed and businesses just couldn't take off. A lot of banks went under because there were many runs on the bank as there would be rumors that a particular bank was running out of money. Everybody would go there and withdraw their money and the banks couldn't cover that withdrawal. This would contribute to the falling even though they were quite healthy before the run; they fell because of the rumor.
In 1933, two senators, Carter Glass and Henry Steagall, came up with an Act called 'The Glass-Steagall Act'. Basically what they did was introduce a firewall between commercial banks and investment banks, and so prevent this run on banks. It also led to the FDIC – the Federal Deposit Insurance Corporation – coming in and guaranteeing a certain amount of money that they would cover the banks for. They hoped that, with this Act, there would be more confidence that people would have in the banking system.
It worked well for many decades. But as the economies changed and corporations changed and the way of doing business changed – banking itself has changed dramatically and drastically over the years – there have been many dialogues about whether the Glass-Steagall Act was really relevant to the time. Finally, in 1999, the Clinton administration replaced it with what they called the Gramm-Leach-Bliley Act. This was a tweak of the original bill, but was brought in to be more relevant to the times. Many financial experts and economists believe that the removing of the Glass-Steagall Act was one of the main contributors to the 2008 financial crisis that America and the world went through. But the jury is still out on that. In 2009, the Volcker Rule was introduced with the Dodd-Frank reform bill that was again brought in to make sure that the banking institutions had the freedom to invest and yet, created a safe place for people to their money in as well.
Why do I bring this up? As I looked at this whole story right from 1933 to the current time, there have been very healthy debates. Out of these debates have come good ways and means of structuring the financial systems that have been around. It is because there have been many voices, that the financial systems have been good. It reiterated once again the fact that debate is very healthy in a democracy, very healthy in any area where there are voices for and against and a good discussion takes place. And out of that crucible come good things.
I started thinking about how being able to voice one's opinion is so needed in today's world. Each one of us especially in the corporate spaces, we have and must use the voice that is given us. Because if your voice is not heard, then some of the things that you are good at, will never get put on that anvil. You will never get heard. And what may ultimately come out could be less than what is the best for the situation or for the company or the process that is being ironed out.
Lord Tennyson wrote these famous lines in 'The Passing of Arthur'. He said: The old order changeth yielding place to new. And God fulfills himself in many ways. Lest one good custom should corrupt the world. Comfort thyself.
I like that because what he was saying is that good customs can be there but they have a lifespan. After that they can corrupt the process. Sometimes, we just accept some of the things because it's been there for many, many years without questioning it, without wondering if it is still relevant, effective or an efficient way of doing things. That's why I think debate is good. But debate cannot happen without voices. Maybe the voice that is missing in the debate in your office is your voice. You have an opinion but you've not voiced it. You're sitting back and thinking, "This could have been better if I had said this," but for some reason you've not been confident of doing it.
And I want to challenge you today. You're there not by any chance. You're there because God has given you the right to be there. That's your space, a sacred space. And your voice must be heard. You must be able to challenge existing norms and try to make them conducive to the times, to what's going on in the office. You must bring your intelligence to bear. You must continue to look at some of the old systems that you've inherited and tweak them if necessary or dispense with them if needed. You need to deal with what's not working. You need to speak up about issues that you know about.
Somebody once said, "Silence isn't always golden; sometimes it's just plain yellow." Very true, isn't it, once we say 'Ouch' to that arrow to our heart? Keeping quiet sometimes is really not the best option, maybe just because we're fearful. And yet, when we allow that fear to win, then the whole process is less than what it should have been. Also, learn to speak at the right time. "The right word at the right time is like custom-made jewelry," says the Bible. There is a right time to speak.
I well remember a few years ago, I had boarded a flight to Singapore. By the time I got off at Singapore, I had a raging fever. I went to the hotel and just crashed. I didn't know what to do – a new place, didn't know any doctors. I was supposed to speak the next day. I called the organizers who took me to a doctor. I told him, "I am speaking tomorrow. You've got to do something." He told me that he would give me something for that day but I would have to see my doctor when I returned home. He took out a syringe and filled it some medicine. He inserted the needle into my arm and started injecting the medicine. He casually asked me, "Are you allergic to anything? Do you have any relevant history?" I replied, "Yes, I am allergic to this. I am a diabetic. I've had an angioplasty." All of a sudden, his hands stopped with the plunger halfway in and he looked at me and said, "These are things that you should have told me right at the beginning." I'll never forget that moment.
True, isn't it? There are some things that need to be spoken. First, we need to be able to know the right time. But I want to encourage you today. Be able to speak and to speak up. You have to speak, because that is expected of you. Terry Tempest Williams says, "Choosing with integrity means finding ways to speak up that honor your reality, the reality of others, and your willingness to meet in the center of that large field. It's hard sometimes." But, integrity is being willing to speak up, to honor the reality that you're in.
Glenn Llopis, writing in Forbes, says, "6 Reasons Employees Must Speak Up to Thrive at Work". He says:
i. It enables the organization. That's why you are there, because the organization knows that you have something to bring to the table.
ii. It challenges the status quo and cultivates innovation,
iii. inspires those that don't have a voice. Sometimes we think it's only about ourselves. It's not! Other people may look at you and say, "Okay, I too can talk.
iv. Increases their market relevancy and value
v. Provides leadership and earns trust from the industry they serve.
People see that you are able to talk and talk good things, then the chances of people up the ladder hearing that and saying, "Okay, maybe we can entrust this to this person" increases.
But here's my challenge for you. If you've always thought – I could have said something that would have changed things – maybe today's the day to start doing that. Let people around you hear your voice. It's a voice that God has given you. God has given you the intelligence, the intellect. He's placed you there. You're wonderfully, fearfully made – as the Bible says. You need to own that space because your voice is important to the processes. So, if you've always been quiet, remember that silence isn't always golden; sometimes it can just be plain yellow. It could be just being scared, and that needs to be confronted. Fear is never a good thing to bring into the equation of our lives.
Let me pray with you. Almighty God, help each one of us to be who you want us to be in our spaces of work. Lord, give us the courage to speak when we ought to speak, knowing Lord, that you will give us the wisdom, the right words at the right time to be able to say that. Help us to own the places that we are in and to be contributors to the processes that are being hammered out. We ask for your blessing upon each one of us and we ask it in the name of Jesus. Amen.
• Anisha Sekar, "The Glass-Seagall Act Explained." http://www.nerdwallet.com/blog/banking/glass-steagall-act-explained/
• Alfred Tennyson, "The Passing of Arthur," https://www.goodreads.com/quotes/404311-the-old-order-changeth-yielding-place-to-new-and-god
• The Great Depression, http://www.history.com/topics/great-depression
• Terry Tempest Williams Quote, http://www.goodreads.com/quotes/tag/speaking-out
• Glen Llopis, "6 reasons Employees must Speak up to Thrive at Work," http://www.forbes.com/sites/glennllopis/2012/03/19/6-reasons-employees-must-speak-up-to-thrive-at-work/2/
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