----- Forwarded Message -----
From: John Fullerton <[email protected]>
To: Robert Searle <[email protected]>
Sent: Monday, 16 July 2012, 22:30
Subject: Off-Grid Financing
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Off-Grid Financing
The ramifications of the Libor scandal--what Warren Buffett glibly called a can
of worms that affects the whole world--grow by the day. Criminal indictments
of individuals, even if firms are too big to indict, appear to be in the making
as the tsunami’s shock waves are about to spread to many of the usual suspects.
One can only imagine the trial lawyers licking their chops. Has there ever
been a class action lawsuit on behalf of the whole world?
Central bankers and regulators, understandably panicked at the height of the
crisis, may have been complicit in some of the distortions in an effort to
create the pretense of financial system stability. However, like the
so-called “war on terror,” we find the war on financial system collapse is
filled with ends-justifying-the-means moral and legal questions.
Read more at The Future of Finance.
Evergreen Cooperatives Launch New Website and Are Featured in Brancaccio
Documentary
The Evergreen Cooperatives, the subject of a Capital Institute Field Guide to
Investing in a Resilient Economystudy published last year, are profiled, along
with other community-wealth-building projects, in the newly revised documentary
Fixing the Future by David Brancaccio. To attend one of the screenings that
will be held in many American cities on July 18th and 19th visit thissite.
Also pay a visit to The Evergreen Cooperatives’s enhanced websitefeaturing
videos and the latest Evergreen news.
________________________________
Another Summer Visit to the Capital Institute Archives
In June 2010 we posted a profilewith More for Mission’s then director Lisa
Hagerman to find out how the organization, launched in 2007 by the Annie E.
Casey
Foundation, the Meyer Memorial Trust and the F.B. Heron Foundation, was working
to help foundations better align their investments with their underlying
mission.
Since we posted our profile in June 2010, the organization grew to a total
membership of 96 foundations. In May 2012 M4M and Program Related Investment
Makers Network (PRI) combined to form the Mission Investors Exchange.
The merger of the PRI Makers Network and More for Mission was the end result of
a long-standing relationship between the two organizations that were initially
focused on different areas of the mission-investment spectrum.
Read more at This Week at Capital Institute.
________________________________
John on GritTV
Laura Flanders’s interview with John Fullerton on making finance safe for the
planet went live online last week. In it, Flanders asks penetrating questions
about the Newtonian groundings of neoclassical economics and finance, reaching
full employment without economic growth, and the role of dematerialization in a
sustainable economy. John’s responses detail the underlying theme of Capital
Institute’s work: structuring a financial system that helps us stay within
biophysical limits and puts us on a path toward a fairer distribution of wealth.
The video has since been distributed on Laura Flanders’s siteas well as
numerous other outlets including CurrentTV, The Nation, and Truthout.
Watch the video at This Week at Capital Institute.
What We're Reading
One-third of all counties in the United States are part of a USDA declared
natural disaster area, but almost no one in political office is willing to say
why: climate change. An article from The Atlantic outlines all the facts.
U.S. Declares the Largest Natural Disaster Area Ever Due to Drought
________________________________
Comment of the Week
"[A] consequence for any complex system is that entropy increases whenever the
folly of our hubris in thinking we are in control becomes evident."
-Geoff Chesshire, Economics as if the Laws of Thermodynamics Mattered
________________________________
Quote of the Week
“How do we appreciate the good without letting it be the enemy of the perfect?
How do we keep a step in the right direction from becoming a stopping point?
How do we get beyond shades of insipid light green?”
-Donella Meadows
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