Last week I attended a meeting with staff members from Speaker Pelosi’s office. One of their requests was for people’s stories of the specific impacts of the economic crisis on their lives and their communities. I turn to you for help with this.
Boston Globe – sent by Sr. Helen Wright
By James Carroll
October 13, 2008
THE WORD “meltdown” came naturally to the lips last week, referring to the collapse of financial markets. But what about a real meltdown? The word came into popular usage to describe the melting of fuel rods in a nuclear reactor, a result of out-of-control overheating, leading to a dangerous release of radiation. But before that, meltdown defined not the accident of a power plant but the purpose of a nuclear bomb – the liquefaction through intense heat of metal, glass, and everything else caught in an atomic blast. Meltdown is the point.
Continue reading Preventing the other meltdown
Interfaith Center on Corporate Responsibility
NEW YORK CITY, NY//Sept 26, 2008// For the past three decades, members of the Interfaith Center on Corporate Responsibility (ICCR) have worked with financial institutions to address the needs of the poor to obtain access to capital for: sustainable development, affordable housing in the U.S. and responsible lending in developing countries. ICCR is a coalition of nearly 300 faith-based institutional investors, representing over $100 billion in invested capital. Continue reading Faith-based Investors Issue Statement on the Financial Market Failure
Rabbi Arthur Wascow
If you listen to the hard-headed people who presumably keep us prosperous, Biblical and Quranic economics are, of course, quaint and unrealistic. They’re based on romantic ideas about benefiting the poor, the landless, the outcast. Good for motivating open-hearted charity; bad for making hard-headed decisions necessary to run a successful economy. Continue reading Sacred Economics — Is it Silly? Hard-headed Economics — Is it Breaking our Heads?