Ellen Brown

Why all the robo-signing? Shedding light on the shadow banking system

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Whether massive robo-signing occurred is no longer in issue. The question that needs to be investigated is why it was being done. The alleged justification—that the bankers were so busy that they cut corners—hardly seems credible given the extent of the practice. The robo-signing largely involved assignments of mortgage notes to mortgage servicers or trusts representing the investors who put up the loan money. Assignment was necessary to give the trusts legal title to the loans. But assignment was delayed until it was necessary to foreclose on the homes, when it had to be done through the forgery and fraud of robo-signing. Why had it been delayed? Why did the banks not assign the mortgages to the trusts when and as required by law?

After the nuclear disaster, Japan considers a green future

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Last March, a 9.0 magnitude earthquake and subsequent tsunami left nearly 20,000 dead or missing and destroyed 125,000 buildings in the Tohoku region of Japan. The two disasters also caused three reactors at the Fukushima Daiichi nuclear power plant to melt down, which released dangerous levels of radiation into surrounding areas and led to national power shortages. Tokyo’s iconic neon signs were switched off as rolling blackouts spread across the country. Faced with the greatest reconstruction task since World War II, Japan is asking difficult questions about the future of its energy supply and just what sort of society should emerge from the ruins.

Democratizing capital

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While a great many commons seek to develop alternatives to conventional businesses – and even to bypass markets altogether – the struggle to democratize capital should not be lost in the shuffle. Popular ownership of capital assets and business enterprises is still a great strategy for building the commons and advancing the public good. Fortunately, there’s a growing enthusiasm for this approach.

Changing the social logic through design

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In Prosperity Without Growth, the seminal book by Tim Jackson, he concludes that our social logic must change: “The social logic that locks people into materialistic consumerism as the basis for participating in the life of society is extremely powerful, but detrimental ecologically and psychologically. An essential pre-requisite for a lasting prosperity is to free people from this damaging dynamic and provide opportunities for sustainable and fulfilling lives.”

Article in Nature: “Oil’s tipping point has passed”

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The prominent scientific journal Nature has just published an article that supports what we in the peak oil world have been saying for years.

James Murray of the University of Washington and David King of the University of Oxford say that global oil production peaked in 2005 at about 75 million barrels a day.

The “supply of cheap oil has plateaued,” said King. “The geologists know where the source rocks are and where the trap structures are,” according to Murray. “If there was a prospect for a new giant oil field, I think it would have been found.”

(Excerpts from news articles about the article.)

The myth of the machine

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The strategy discussed in last week’s post–that of walking away from energy-intensive lifestyles before the waning of the age of abundant energy brings them grinding to a halt–is a viable response to the crisis of our age, but it’s also a great way to poke a stick at some of the most deeply entrenched of the modern world’s dysfunctional habits of thinking. Suggest it in public, for example, and you’ll very quickly learn why all that talk about saving the planet has turned out to be empty air: everyone’s quite willing to watch someone else make sacrifices for the good of the biosphere, but ask them to make sacrifices themselves and you’ll see just how far their love of the planet extends.

Green economy and growth: Fiddling while Rome burns?

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“Fiddling while Rome burns” may seem a stale analogy, but when talking of “green growth” and “green economy” (GGE, for short), it is appropriate. Despite assertions to the contrary, the only thing innovative about the GGE concepts is the buzz that surrounds them. Getting excited about them when they are hardly new or creative notions blithely ignores their critical limitations for dealing with the social and ecological challenges facing us today.