November 19th, 2010
When it comes to policy change, what should come first: financial regulation or corporate responsibility?
I have argued for corporate responsibility—morality, in fact—before. My conclusion was that corporations, like people, do have the duty to act morally. I argued that there is such a thing as moral behavior when it comes to business and when we, as consumers, should reflect our own brands of morality in our purchasing decisions.
The same thing should be true of investing. And when it comes to these funds, some firms have already led the way with “socially responsible” investment firms. Members...
November 15th, 2010
Global Financial Integrity Applauds Shareholder Initiative
WASHINGTON, DC--Global Financial Integrity (GFI) applauds Harrington Investments, Inc.’s decision to file shareholder resolutions with Citigroup, Bank of American and JPMorgan Chase, calling for the adoption of a policy position addressing the systemic use of the U.S. financial system to both shelter illicit funds and transfer them internationally.
The shareholder resolution follows a difficult year in which we saw Wachovia Bank sanctioned for laundering millions of dollars for South American drug cartels, HSBC agreeing to sanctions from the U.S. Comptroller of the Currency for failure to maintain adequate anti-money laundering programs, and the...