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Investors Alarmed by Senate Interference with Dodd-Frank Rules on Derivatives July 11th, 2013
Thirty-eight faith-based and socially responsible institutional investors sent a letter to Senators who recently asked Treasury Secretary Jacob Lew to delay the implementation of important Dodd-Frank derivatives regulations. The Rev. Seamus Finn, OMI (Missionary Oblates of Mary Immaculate, and Board Director, the Interfaith Center on Corporate Responsibility) organized the letter, which expressed dismay and disappointment at the Senators’ action.
Read the letter (download PDF)…
It is vital that the over-the-counter derivatives market be regulated, and soon. Derivatives are complex financial instruments used to hedge risk, and were largely responsible for the 2008 financial crisis.
In the lead up to 2008, large financial institutions bought and sold trillions of dollars worth of over-the-counter derivative instruments linked to subprime mortgage securities, which instruments would trigger a payout in the event of default. “This particular type of OTC derivative, known as a credit default swap (CDS), fomented the mortgage crisis and subsequent credit and economic crisis by offering purported “insurance” to people investing in subprime securities. This insurance fueled excessive risk-taking, demand, and expansion of the subprime market.” (Ref.: The Role of Derivatives in the Financial Crisis, Univ. of MD website)
Kevin McLaughlin OMI Joining Ecological Education Initiative in Ireland June 14th, 2013
An Tobar Retreat Centre, Co Meath, Ireland
Fr. Kevin McLaughlin OMI, a former intern at the JPIC Office in Washington, DC, has joined an Ecological education initiative in Ireland. The initiative is located at the An Tobar Retreat Centre owned by the Spiritan congregation just outside of Dublin, Ireland.
Fr. Kevin will join the staff, and hopes to develop an ecological ministry by setting up an ecological reflection group and preparing courses on the New Story and other themes in ecology and spirituality.
Some of the upcoming projects include starting a kitchen garden, offering allotments to people who would like to garden, developing a nature trail, restoring the woodlands, planting trees, cleaning out the polluted pond and developing.
View Fr Kevin’s photos of An Tobar: An Tobar (the Well) is a place of reflection, rest, welcome and hospitality.
UN Survey for Post 2015 Agenda March 5th, 2013
The United Nations is conducting a global survey asking you to choose your priorities for a better world. Our VIVAT International is a partner in this endeavor, and has asked us to make this available to you. our readers. Results of the survey will be shared with world leaders in setting the next global development agenda. Please go to this link for the survey tool: http://www.myworld2015.org/?partner=VIVAT
You can choose your own language. Contact the VIVAT staff if you have any question, problem or difficulty in accomplishing the survey. Thanks!
Important Anti-Trafficking Legislation Passed March 3rd, 2013
Last Thursday, Congress passed the Trafficking Victims Protection Reauthorization Act (TVPRA), as part of the Violence Against Women Act. President Obama is expected to sign this legislation soon. The TVPRA is a critically important tool for protecting human trafficking survivors and stopping the perpetrators of violence, exploitation and enslavement. The bill authorizes millions of dollars for human trafficking services and programs and encourages distribution of the National Human Trafficking Hotline by federal agencies.
In addition, Governor Matt Mead of Wyoming last week signed his state’s first law that outlaws human trafficking, making Wyoming the 50th state to make human trafficking a crime. Wyoming’s laws now offer some of the strongest legal protections and support for survivors of human trafficking in the country.
Click here to read more »
Ecumenical Advocacy Days 2013 February 28th, 2013
“Those who gathered much had nothing over, and those who gathered little had no shortage; they gathered as much as each of them needed.” (Exodus 16:18)
“When you give a banquet, invite the poor, the crippled, the lame, and the blind. And you will be blessed, because they cannot repay you, for you will be repaid at the resurrection of the righteous.” (Luke 14:13-14)
Sign up today to attend the EAD 2013 gathering in Washington, DC scheduled for April 5-8. The theme for this year is “At God’s Table: Food Justice for a Healthy World”
Join 1,000+ Christian advocates at the 11th annual Ecumenical Advocacy Days to seek Food Justice for a Healthy World! In a world that produces enough food for everyone, EAD will explore the injustices in global food systems that leave one billion people hungry, create food price shocks that destabilize communities everywhere, and undermine God’s creation. At God’s Table, all are invited and fed, and the poorest in our midst are given a special place. Together we will seek the abundance and equality that we find reflected in the biblical image of God’s great banquet table (Exodus 16:16-18 & Luke 14:12-24). Inspiring speakers will offer a faith-based vision for fair and humane food policies and practices, along with grassroots advocacy training, all culminating with Monday’s Lobby Day on Capitol Hill.
