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Missionary Oblates of Mary Immaculate  United States Province

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News Archives » commodities reform

Oblates Join Broad Coalition in Call for Reform of Financial Markets February 8th, 2010

big-boardCommodity Markets Oversight Coalition and Americans for Financial Reform Call for Reforms that Could Have Prevented Economic Crisis and Commodities Bubbles

The Missionary Oblates, long active in shareholder advocacy, have been pressing for major reforms in derivatives trading and commodity speculation in their dialogs with major banks and other financial services institutions. Recently, the Oblates joined a broad coalition calling for needed reform of the financial system to prevent a repeat of last year’s financial meltdown.

Advocates for financial reform have formed a powerful partnership with business interests ranging from heating and motor fuels retailers to cotton marketers, and trucking companies to airlines, and this new alliance is calling on Congress and Federal Regulators to bring derivatives out of the shadows and into the daylight.

Read the Coalition’s “Joint Statement of Shared Principles for Needed Reforms in the Futures/Derivatives Markets.”

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House Passes Wall Street and Consumer Protection Act December 11th, 2009

House_Financial_Services_CommitteeThe House of Representatives just passed important legislation designed to reign in the abuses that led to the recent financial meltdown. H.R.4173, the Wall Street Reform and Consumer Protection Act of 2009 tightens regulation of Wall Street and the financial sector. It creates a new agency with oversight of consumer lending, establishes new rules for transactions – like derivatives – that contributed to the meltdown, and seeks to reduce the threat that one or two huge companies on the verge of collapse could bring down the economy (too big to fail).

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