News Archives » Economic Justice
Oblates Join Broad Coalition in Call for Reform of Financial Markets February 8th, 2010
Commodity 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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IMF Loan Changed to a Grant January 20th, 2010
Under pressure, the IMF has changed its US$100 million loan to a grant. Dominique Strauss Kahn, the head of the IMF, has called for a major multilateral aid plan to rebuild the shattered Caribbean island of Haiti where the rescuers are still struggling to save lives after last week’s devastating earthquake.
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House Passes Wall Street and Consumer Protection Act December 11th, 2009
The 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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Climate Justice for a Changing Planet December 8th, 2009
Climate Justice for a Changing Planet: A Primer for Policy Makers and NGOs shines a light on the important intersection of equity and justice in the context of the current climate change debate. This new publication from the United Nations Non-Governmental Liaison Service (UN-NGLS) explores climate justice as an emerging concept and as a key to understanding the global debate. The book demonstrates that climate justice is not only an ethical imperative, but also an economic and social one.
Learn more and access a PDF of the publication.
In an effort to further highlight the issue and to develop further understanding of the concept, NGLS has also launched a series of guest articles and interviews with climate justice experts and advocates. This series will continue through January of 2010. The series and more information can be found at www.un-ngls.org/climatejustice
Immigration Reform Can Wait No Longer – Archbishop José Gomez of San Antonio December 1st, 2009
In September 2009, Archbishop José Gomez of San Antonio, Texas, representing the U.S. Conference of Catholic Bishops, led a delegation of Hispanic Bishops to the United States Congress where they met with House and Senate legislators from both sides of the aisle. The delegation discussed a variety of issues such as health care, immigration and education, but also principles of Catholic social teaching that could help inform the current debates.
An important topic raised by the Bishops in the meetings with legislators was the need for immigration reform. Writing in the San Antonio Archdiocesan paper, Today’s Catholic, Rev. Jose H. Gomez says “Immigration reform can wait no longer.” The article is also available in Spanish: Por qué una reforma migratoria no puede esperar mas
