Ethical Markets’ new initiative Transforming Economics Into True Wealth invites investment professionals to build a real economy.
Despite incremental reforms, the Dodd-Frank Act in the USA, Basel III and the 0.1% financial transaction tax now approved by EU finance ministers, the global financial casino is still playing.
Financial lobbying still seeks to block or weaken reforms and floods of money distorting democratic politics, loosed by the Supreme Courts’ 2010 Citizens United decision, are still flowing unchecked. Billions still secretly fund attacks on climate science, social safety nets, teachers and other public employees and their pensions. All these efforts to repeal FDR’s New Deal and a fairer economy continue unabated.
Ethical Markets’ Transforming Finance initiative, launched in 2010 with its firstStatement, emphasizing the bigger picture: finance is a part of the global commons, to serve real economies, not dominate them, and its high-frequency traders and all market players use and rely on taxpayer funded infrastructure: the internet, satellite communications, computers, wireless transmission over public airwaves.
Many high-minded financiers who have co-signed this Statement and later ones are former Wall Streeters. They are pioneers of ethical, SRI firms and are also interviewed on our Transforming Finance TV series, including John Fullerton, Amy Domini, Susan Davis, Karl Kleissner, Alisa Gravitz, Terry Mollner, Katherine Collins, Leland Lehrman, Sarah Stranahan, Michaela Walsh, Ben Bingham and author/lawyer Ellen Brown (available atwww.ethicalmarkets.tv and www.films.com)…