Find out more about A New Way Forward and its grassroots efforts to reform our financial system here. William Greider's new book is Come Home, America.
Moral Awakening
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In the Shadow of Hoover
William Greider: Deficit spending is a cure for our troubles, not the cause. If Obama reduces the red ink, the Great Recession could be born again
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Why Not Tax Wall Street?
Corporate Responsibility & Accountability
William Greider: In Washington, big ideas for financial reform are suddenly gaining momentum.
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Charitable Capitalism
William Greider: Goldman and the other big dogs of Wall Street are afflicted with the stink of greed, having harvested swollen fortunes from the calamity they caused for the rest of the country.
These groups could function, not as a third party nor as standard "issue" advocates, but as a mixture of these capabilities. They could act like free-roaming guerillas who educate and agitate; like a political party that selectively destabilizes safe-seat incumbents by entering party primaries or running independent challengers; like a representative organization that can demand political relations through direct confrontations or even civil disobedience. This development sounds implausible, I know, especially in Washington. But our crisis demands a more aggressive response from citizens--something that threatens the power of both parties and makes them insecure.
As it happens, a rough facsimile of what I envisioned is arising now in the politics of financial reform. A network of fourteen community organizations, based in cities from Boston to Washington, DC, and across North America, has come together in alliance and intends to force a moral awakening on the narrow thinking of the status quo. These citizens are developing a political-action agenda around one theme--usury--as the efficient expression of the abuses and injustices associated with banking and finance. These are interfaith organizations affiliated with the Industrial Areas Foundation and composed of citizens who are white and black, affluent and working poor, whose local organizations are based in churches and synagogues, Catholic, Protestant, Jewish, Muslim and others.
Usually, their political action is local and succeeds regularly in building relations with public officials that produce real change in communities. This time, given the crisis, these IAF groups are attempting something they have not done before--building the voice and influence to join the national debate and change its terms. I sat in on one of their organizing meetings near Baltimore and was asked to contribute my views on the shape of the problem.
"Are you ready to be born again? And again? And again? Do you have the imagination? Do you believe it?" The call was from the Rev. Hurmon Hamilton of the Roxbury Presbyterian Church in Boston, and he inspired the 100 or so community leaders. "Faith is the substance of things hoped for," Hamilton declared, "the evidence of things unseen."
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