Magazine article The Spectator

The Church Is Culpable Too

Magazine article The Spectator

The Church Is Culpable Too

Article excerpt

Sir: Will Rowan Williams start his call for 'fresh scrutiny and regulation in the financial world' ('Face it: Marx was partly right about capitalism', 27 September) by glancing at the institution he heads? I am told that the 2007 Church of England target for its investment arm was 6 per cent above Bank of England base rate. It should have been clear to the Archbishop that this could not be achieved without the Church getting involved in the murky world of City finance.

The Church of England was made to look even more ridiculous when the Archbishop of York called short-sellers 'bank robbers and asset strippers'. Are these people not just parasites making good out of an overpriced economy which all, including the Church of England, have enjoyed for the past 15 years?

If Christianity teaches us one thing it is that none is without sin. The far-reaching consequences of the global stock-market crash has brought this into sharp focus. …

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