How does the financial system affect the poorest of the poor? Watch the June 7th issue of the Nightly Business Report for a segment on faith-based investors and efforts to rein in the derivatives market – a cause of the recent instability that has affected nearly everyone.
In an interview with Darren Gersh, Seámus Finn, OMI clearly draws the connections between decisions made by bankers and the lives of the poor. Fr. Finn talks about the need for greater disclosure of derivative risk – disclosure that a significant number of other shareholders have favored in recent Resolutions with Citibank, JP Morgan Chase, and Goldman Sachs. Up next is legislation on Capitol Hill that could force banks to spin off their derivatives business.