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Vatican Suggestions for Financial Reform Debated November 8th, 2011
“Robert A. Sirico’s “The Vatican’s Monetary Wisdom” (op-ed, Oct. 27) correctly praises the analysis of the causes of the financial crisis that was included in the Vatican’s statement on reforming the financial system. His summary dismissal of the suggested responses in the document clearly states that no sovereign or international regulatory authority is up to the task of regulating the major actors in the financial sector. Are we then to believe that they will do it themselves?
Haven’t we just experienced the consequences of deregulation, regulatory arbitrage and the capture of elected officials and assemblies by banks and industry associations? Greater cooperation, coordination and collaboration among sovereign regulators and authorities, as the Vatican suggested, is a step in the right direction if the public is to have a safe, stable and fair financial system that is worthy of their trust and their transactions.”
The Rev. Seamus P. Finn OMI
Re-Occupying Main Street November 2nd, 2011
I believe there are analogies and lessons to be drawn from the responsible citizenship on display by demonstrators across the world, and the responsible ownership practiced by active shareholders in corporations.
Read Fr. Finn’s latest blog on Huffington Post…
Oblate Priest Speaks up for Underpaid Immigrant Workers October 31st, 2011
A new law in Texas (Senate bill 1024) has tried to crack down on wage theft, a serious problem for undocumented workers. The legislation closed a loophole that allowed employers to escape prosecution if they had paid employees only a portion of the wages owed. Fr. Kevin Collins, OMI supports the law, saying that many of the underpaid workers are undocumented immigrants who may not feel brave enough to pursue charges. The new law, if enforced, well will help millions of underpaid workers.
Fr. Collins, OMI, a pastor at Immaculate Conception Church in Houston, Texas, serves as a co-director of the Metropolitan Organization, an interfaith social justice nonprofit group in Houston. Wage theft is a serious concern for the group.
Uphold Human Rights in Guatemala, Groups Urge New US Ambassador October 31st, 2011
Victims of impunity in Guatemala
In a letter to the new US Ambassador to Guatemala from a broad array of human rights and religious groups working on Latin America, the Ambassador was urged to continue the emphasis of his predecessor on upholding human rights and due process. The Rev. Seamus Finn, OMI signed the letter on behalf of the Missionary Oblates.
Read the letter (Download PDF)
Faith Based Investors Welcome Vatican Statement on Financial Reform October 31st, 2011
The Interfaith Center on Corporate Responsibility issued a statement welcoming the recent Vatican proposal and recommendations for reform of the global financial system. The statement reads:
The document, “Towards Reforming the International Financial and Monetary Systems in the Context of Global Public Authority”, released by the Pontifical Council for Justice and Peace, offers a very helpful analysis of the ongoing global financial crisis and makes some sound proposals and recommendations to reduce the probability of meltdowns of such magnitude in the future.
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