News Archives » Homepage News
Watch: Fixing the Future! July 25th, 2012
- The Oblate-sponsored Community Supported Garden at La Vista is a good example of the community based economic alternative highlighted in Fixing the Future.
Fixing the Future is both a film and a project to help communities across America become aware of the sustainable, community-based economic alternatives developing everywhere in the US.
Host David Brancaccio, of public radio’s Marketplace and NOW on PBS, has traveled across the country to visit people and organizations that are attempting a revolution: the reinvention of the American economy. The film features communities using sustainable and innovative approaches to create jobs and build prosperity. Fixing the Future highlights effective, local practices such as: local business alliances, community banking, time banking/hour exchange, worker cooperatives and local currencies.
The Imploding Banking Sector July 24th, 2012
Read Fr. Finn’s latest blog on Huffington Post – his commentary on the latest implosion of the banking sector. It begins…
Summer months here in Washington, D.C. are generally characterized by the slower pace that is associated with southern cities and the rush of Congress and government employees to get in some vacationing with their families before Labor Day. Even the traffic reporters usually sprinkle their reports with comments about the decreased traffic flows or the early exits for the eastern shore that usually start on Thursday afternoon.
Unfortunately, if you are on the House Financial Services Committee or the Senate Banking committee or one of the regulators for the numerous corporations that operate in the financial services sector, there has been very little down time since the famous early May JPMC announcement about the huge trading loss in their Chief Investment Office in London. Since then the amount of the loss has more than doubled and numerous investigations into the actions of individuals involved in the loss have been opened. All of these activities promise to keep a number of folks at their desks for longer than expected.
Oblates Attend HIV-AIDS Conference in Washington, DC July 24th, 2012
Oblate JPIC Staff, George Ngolwe and friends at the 2012 Washington DC AIDS Conference
Fr. Ashok Stephen OMI at the 2012 Washington AIDS Conference. Novartis is fighting an 'anti-evergreening' provision of the law in India.
Female AIDS Activists at the Washington DC AIDS Conference
Fr. Ashok Stephen OMI with Advocates for the Robin Hood Tax marching in Washington, DC
Marching with AIDS activists near the White House
Italian Constitutional Court Blocks the Privatization of Water July 23rd, 2012
In an important ruling, the Italian Constitutional Court has declared unconstitutional the privatization of water and local public services. In a ruling issued July 20, the Court ruled against Article 4 of the Decree Law 138 of August 13, 2011, by which, the Berlusconi government re-introduced the privatization of local public services. This ruling also blocks all subsequent amendments, including those of the Monti government.
The ruling strongly confirms the citizens’ will, expressed in the referendum of 12 and 13 June 2011. On those dates, a nationwide popular referendum was held in Italy on four questions, two of which concerned the privatization of water. Turnout was reported to be high, reaching 56.9%, with clear majorities of 94.6% to 96.1% in favor on all questions. The Vatican has come out strongly in favor of the human right to water, and opposed the efforts to privatize the vital resource. Cardinal Turkson, head of the Pontifical Council for Justice and Peace, said water distribution should be a service provided by governments to their citizens as part of their role in protecting the common good.
Victory Against Vulture Funds! July 23rd, 2012
Jubilee USA Stopped Vulture Funds in New York State; Courts Stopped Them in the UK
In June, Jubilee USA – of which OMI JPIC is a member – launched a campaign to stop vulture fund legislation from passing in the New York State Legislature. Vulture funds were attempting to get Bills through that would have promoted and protected vulture funds in New York State courts, making it easier for vultures to litigate against poor countries.
Jubilee mobilized more than 4,000 New York Jubilee members to take action, calling and writing their Assembly Members and Senators to stand with the poor and not with the hedge funds.
The Wall Street Journal’s Jacob Gersham wrote how important this work was: “The path became trickier for Elliott on Friday, when an alliance of religious groups that supports debt relief for developing nations, Jubilee USA Network, entered the fray by issuing a mass alert about the bill. It said the proposed law could be wielded in poorer regions and “litigate poor countries into submission.” Read the full article in the Wall Street Journal.
UK Courts Rule Against Vulture Funds, Support DR Congo
In a surprise decision in the Jersey Isles, the UK’s Privy Council overturned a prior ruling, siding with the Democratic Republic of Congo against vulture fund FG Hemisphere. FG Hemisphere was seeking $100 million from the DRC for a debt the vulture fund bought for just $3 million. While having initially lost the case, the DRC has won on final appeal. While the UK passed a law in 2010 limiting the amount a vulture fund could claim from impoverished countries, it did not apply to crown protectorates, like Jersey, where vultures funds could still pursue cases. This decision was pleasantly unexpected and a cause for celebration.
