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Moyers & Company / Banking on Greed / The Problem with Genetically-Modified Seeds

Just when you think the reputation of banks couldn’t get any worse, comes word that we’ve seen nothing yet. As many as 20 banking institutions, including Barclays Bank, Deutsche Bank, Citigroup, JPMorgan Chase, UBS and HSBC, are reportedly under investigation for illegal and unethical practices toward protecting their profits at all costs and letting others pay for their mistakes. In this episode, financial expert Sheila Bair talks with Bill about the lawlessness of our banking system and the prognosis for meaningful reform. Bair was appointed in 2006 by President George W. Bush to chair the FDIC. During the 2008 meltdown, she argued that in some cases banks were NOT too big to fail — that instead of bailouts, they should be sold off to healthier competitors. Now a senior adviser to the Pew Charitable Trusts, Bair has organized a private group of financial experts including former Fed chairman Paul Volcker, former Senators Bill Bradley and Alan Simpson, and John Reed, once the chairman of Citicorp, to explore ways to prevent the banking industry from scuttling reforms created by the Dodd-Frank Act.

Sheila Bair: Banking on Greed

Bill talks to scientist and philosopher Vandana Shiva, who’s become a rock star in the global battle over genetically modified seeds. These seeds — considered “intellectual property” by the big companies who own the patents — are globally marketed to monopolize food production and profits. Opponents challenge the safety of genetically modified seeds, claiming they also harm the environment, are more costly, and leave local farmers deep in debt as well as dependent on suppliers. Shiva, who founded a movement in India to promote native seeds, links genetic tinkering to problems in our ecology, economy, and humanity, and sees this as the latest battleground in the war on Planet Earth.

Vandana Shiva on the Problem with Genetically-Modified Seeds

Full Show: Banking on Greed | Moyers & Company | BillMoyers.com.

The Sharp, Sudden Decline of America’s Middle Class

They had good, stable jobs – until the recession hit. Now they’re living out of their cars in parking lots.

Photo: Mark Seliger

Janis Adkins lives in her van at the Goleta Community Covenant Church in Santa Barbara.

Every night around nine, Janis Adkins falls asleep in the back of her Toyota Sienna van in a church parking lot at the edge of Santa Barbara, California. On the van’s roof is a black Yakima SpaceBooster, full of previous-life belongings like a snorkel and fins and camping gear. Adkins, who is 56 years old, parks the van at the lot’s remotest corner, aligning its side with a row of dense, shading avocado trees. The trees provide privacy, but they are also useful because she can pick their fallen fruit, and she doesn’t always­ have enough to eat. Despite a continuous, two-year job search, she remains without dependable work. She says she doesn’t need to eat much – if she gets a decent hot meal in the morning, she can get by for the rest of the day on a piece of fruit or bulk-purchased almonds – but food stamps supply only a fraction of her nutritional needs, so foraging opportunities are welcome.

Prior to the Great Recession, Adkins owned and ran a successful plant nursery in Moab, Utah. At its peak, it was grossing $300,000 a year. She had never before been unemployed – she’d worked for 40 years, through three major recessions. During her first year of unemployment, in 2010, she wrote three or four cover letters a day, five days a week. Now, to keep her mind occupied when she’s not looking for work or doing odd jobs, she volunteers at an animal shelter called the Santa Barbara­ Wildlife Care Network. (“I always ask for the most physically hard jobs just to get out my frustration,” she says.) She has permission to pick fruit directly from the branches of the shelter’s orange and avocado trees. Another benefit is that when she scrambles eggs to hand-feed wounded seabirds, she can surreptitiously make a dish for herself.

By the time Adkins goes to bed – early, because she has to get up soon after sunrise, before parishioners or church employees arrive – the four other people who overnight in the lot have usually settled in: a single mother who lives in a van with her two teenage children and keeps assiduously to herself, and a wrathful, mentally unstable woman in an old Mercedes sedan whom Adkins avoids. By mutual unspoken agreement, the three women park in the same spots every night, keeping a minimum distance from each other. When you live in your car in a parking lot, you value any reliable area of enclosing stillness. “You get very territorial,” Adkins says.

Each evening, 150 people in 113 vehicles spend the night in 23 parking lots in Santa Barbara. The lots are part of Safe Parking, a program that offers overnight permits to people living in their vehicles. The nonprofit that runs the program, New Beginnings Counseling Center, requires participants to have a valid driver’s license and current registration and insurance. The number of vehicles per lot ranges from one to 15, and lot hours are generally from 7 p.m. to 7 a.m. Fraternization among those who sleep in the lots is implicitly discouraged – the fainter the program’s presence, the less likely it will provoke complaints from neighboring homes and churches and businesses.