Religious Seek U.S. Financial Reform

Sixty religious denominations and communities have called upon President Obama to appoint a chair for the Federal Reserve who will favor stricter regulation of the banking and nonbanking sectors. The groups favor a re-establishment of the separation between the investment and commercial banking sectors. This shift in policy, the organizations argue, will offer greater protection for the poor and middle class in the United States and around the world. Signers of the letter include Network, the Leadership Conference of Women Religious, the Conference of Major Superiors of Men and Jubilee USA Network. “Deregulation had negative effects on those living in poverty everywhere, including in countries with G.D.P.’s smaller than some Wall Street banks,” said Aldo Caliari, an economist at the Jesuit-sponsored Center of Concern in Washington, D.C.

Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.

Advertisement
Advertisement

The latest from america

Brother Alois Leser, prior of the Taizé ecumenical community in France, is seen before the encounter at the World Council of Churches' ecumenical center in Geneva June 21. (CNS photo/Paul Haring)
“We live in a world of competition, where you have to be the best. This pressure comes even from the families, from society,” said Brother Alois Löser.
Michael J. O’LoughlinOctober 17, 2018
The tête-à-tête between Paul Krugman and Nancy Pelosi in Manhattan was like a documentary about a once-popular rock band. (Rod Morata/Michael Priest Photography)
Speaking in a deep blue stronghold, the Democratic leader of the House calls for “civility” and cautiously hopes that she will again wield the speaker’s gavel in January.
Brandon SanchezOctober 16, 2018
The lecture provoked no hostile reaction from the students who heard it. But a media firestorm erupted.
John J. ConleyOctober 16, 2018
Though the current synod appears to lack the sort of drama and high-stakes debates of the previous two, the role of conscience appears to be a common thread.
Michael J. O’LoughlinOctober 16, 2018