The chickens have come home to roost for our country’s most storied financial institutions, and for our financial regulators. Systemic investment in high-risk securities, left unregulated and under-capitalized, has toppled the banking giants while regulators scrambled to bail them out. This debacle in business ethics has been unique in the degree to which the perpetrators lied to themselves as well as to the public, while regulators looked on in complicity. Leading financial institutions acted against their own self-interest by ignoring not only societal expectations, but the reality of their own financial positions as well. (more…)
Posts Tagged ‘Keely Byrne’
Fabresio’s Farm
Posted by: Administrator
Tuesday, August 19th, 2008
“Yes Ben, I did get a sense of hope from Sostenica and CEPRODEL’s investments. The impact of their work extends beyond the economic and environmental benefits of each loan to include changing the mindset of borrowers. As opposed to government policies or economic trends, this kind of change can only be brought about on the micro level. I saw many examples of how Sostenica and CEPRODEL’s investments affected borrowers’ views both of themselves and the world. Borrowers felt empowered not only to help themselves but to help others as well, and to become more engaged in their communities. (more…)
Community Investing Story
Posted by: Administrator
Monday, August 18th, 2008
“Here is the story of one borrower I met in Nicaragua:
Martinez Medino is a cattle rancher who needs more help on his farm, but his children have all moved to the U.S. or to Nicaragua’s capital city of Managua. His daughter earned a degree from a Nicaraguan university, but couldn’t find work. Determined to stay in the city rather than return to her father’s farm, she is now working in a maquiladora (a factory that is tarriff-free under NAFTA) for $3 a day. This reflects a sweeping trend among youth across Nicaragua and the developing world. (more…)
