ICCR Press Release: NEW YORK CITY /// September 10, 2008 /// A full dozen years before some Wall Street experts and regulators reluctantly started to accept the possibility in 2005 of an impending subprime mortgage debacle in the U.S. More»
Nobel Peace Prize winner Muhammad Yunus, known as the “banker to the poor” for making small loans in impoverished countries, is now doing business in the center of capitalism. More»
www.glopolis.org Reported here by: SPMG, 10 April 2009
The crisis is a deep, systemic crisis of the economic and political model dominating the world for the past three decades, for which working people, the poor and the vulnerable have no responsibility but suffer most from their impacts. More»
G20 leaders met at the London Summit against a backdrop of rapidly shrinking global capital and trade flows. More»
Galbraith fears the economy is in terminal condition requiring much more intervention than already prescribed. He believes government “doctors” are engaged in a lot of “happy talk” about recovery based on a “fundamentally flawed model,” hinged on the idea the economy is self-healing and only needs a booster shot before it “naturally” returns to trend growth and unemployment in the 5% range. More»
Father Larry Snyder is an ambitious man - not for himself, but for the poor and often voiceless Americans whom he serves as president of Catholic Charities USA. Facing the worst challenge to the U.S. and world economy since the Great Depression, he said, in an interview with NCR, that maybe with this opportunity to remake our economic system we can correct some of its shortcomings (that existed) before… He still sees it is possible to reduce U.S. poverty significantly in the next decade…
President Barack Obama’s proposed federal budget, which would result in a massive transfer of wealth, received rave reviews March 2 from representatives of a number of religious groups, some of which have long ministered to the poor and are among the first to witness firsthand the widespread effects of the current economic crisis. More»