Economic Justice

Robert Jensen on Capitalism v. Christianity: A Tale of Two Cults

Challenging the conventional wisdom of many secular and religious folk. University of Texas at Austin, Professor of Journalism, Dr. Robert Jensen argues that faith in the Cult of Capitalism is irrational and that a commitment to a reformulated Cult of Christianity (along with other religious traditions) is rational as we face up to the corrosive effects of modern life on human nature and the destructive effects of modern life on nature. As inequality and ecological collapse intensify, where do we look for values based on solidarity and sustainability? This talk is part of the First Unitarian Universalist Church’s weekly Public Affairs Forum. Location: First Unitarian Universalist Church, 4700 Grover Ave., Austin 78756 Produced / Edited by Jeffry Zavala. Videography by Grace Alfar, Jeff Zavala, & Michelle Dougherty. An Austin Indymedia Production. http://Austin.Indymedia.org

Interview with Robert Jensen on Capitalism v. Christianity: A Tale of Two Cults

In an interview with Robert Jensen on Capitalism v. Christianity, He challenges the conventional wisdom of many secular and religious folk. University of Texas at Austin, Professor of Journalism, Dr. Robert Jensen argues that faith in the Cult of Capitalism is irrational and that a commitment to a reformulated Cult of Christianity (along with other religious traditions) is rational as we face up to the corrosive effects of modern life on human nature and the destructive effects of modern life on nature. As inequality and ecological collapse intensify, where do we look for values based on solidarity and sustainability?

This talk is part of the First Unitarian Universalist Church’s weekly Public Affairs Forum.
Location: First Unitarian Universalist Church, 4700 Grover Ave., Austin 78756

Produced / Edited by Jeffry Zavala.
Videography by Grace Alfar, Jeff Zavala, & Michelle Dougherty.

An Austin Indymedia Production.
http://Austin.Indymedia.org

Treasury Secretary Lew Brings Jubilee USA Request for Debt Relief for Ebola-Stricken Countries to G20

US Seeks to Move IMF to Cancel $100 Million in Debt for Sierra Leone, Liberia and Guinea.

Debt Payments Dwarf Reconstruction Aid on Philippine's Typhoon Haiyan Anniversary

Religious, Development and Environmental Groups Petition World Bank for Debt Relief

Hedge Fund Seeks Sanctions Against Argentina: Judge Gives Court-Appointed Mediator More Power to Resolve Dispute

 

International Monetary Fund Releases Plans to Stop Predatory Hedge Funds

The International Monetary Fund (IMF) released new proposals for preventing predatory hedge funds and hold-out investors from blocking debt restructurings. The paper proposes a series of reforms to debt contracts, including strengthened collective action clauses and a modification of the pari passu clause that hold-out hedge funds used to sue Argentina.

"In the wake of debt restructurings in Argentina and Greece, the IMF is incredibly concerned about vulture funds," stated Eric LeCompte, the Executive Director of the religious anti-poverty coalition, Jubilee USA Network. "The IMF is advocating a market approach, but we also need a statutory approach. We need to change both the contracts and the laws." 

The reforms would not apply to existing sovereign bonds. The IMF proposal states that there may be a need for action on those bonds as well if the precedent set in Argentina vs. NML begins to impact other countries. The paper comes on the heels of a similar August proposal by the International Capital Market Association to deter disruptive predatory and hold-out behavior. The primary difference between the two proposals is that the IMF paper does not promote establishing creditor committees to reach agreements in the event of disputes.

"It's important that the IMF acknowledges a market approach might not be enough. This suggested approach would need to be comprehensive and won't have an impact for decades," said LeCompte, who serves on United Nations expert groups that seek to tackle these problems.

 www.jubileeusa.org

 

 

 

Argentina Faces US Contempt Hearing

 

OECD Takes Strong Stance on Corporate Tax Avoidance

 

UN Votes for Process to Enact Bankruptcy Treaty and Stop Vulture Funds

 The UN General Assembly passed a historic resolution to begin treaty negotiations to enact a global bankruptcy process and stop predatory hedge funds. The resolution passed by a super-majority vote of 124-11 with 41 abstentions. The US voted no along with 10 other countries.

UN Vote Tuesday Could Create Global Bankruptcy Process, Deter Predatory Funds

 

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