Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

sandensea

(22,850 posts)
Mon Dec 28, 2020, 05:22 PM Dec 2020

Pope Francis Strips Powerful Vatican Office of Its Financial Assets

Pope Francis has stripped the Vatican’s most powerful office of its significant financial assets, the Vatican said Monday, after dubious investments squandered millions of euros in church donations, sparking an embarrassing scandal and prompting an ongoing corruption investigation.

A new law enacted by the pope orders the secretariat of state, the diplomatic and administrative arm of the Holy See, to transfer all its financial holdings and real estate assets to another office, the Administration of the Patrimony of the Apostolic See, which administers the Vatican’s finances, by Feb. 4.

The changes, included in a law made public Monday, follow a Vatican investigation into the mismanagement of funds at the secretariat of state.

One of the most prominent investments made by the secretariat of state involved the purchase of a London property that was bought in part with money donated by the faithful.

At: https://www.nytimes.com/2020/12/28/world/europe/pope-francis-vatican-finances.html



Pope Francis confers with Vatican Secretary of State cardinal Pietro Parolin.

The powerful Secretariat of State - whose leader is often referred to a "deputy pope" - will be under investigation for alleged mismanagement of billions in investment funds.
3 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Pope Francis Strips Powerful Vatican Office of Its Financial Assets (Original Post) sandensea Dec 2020 OP
Religion is big business. procon Dec 2020 #1
Well said. They're definitely not rendering unto Caesar what is Caesar's sandensea Dec 2020 #2
You might want to read the C & O statement of purpose up top. And maybe share this story in the shrike3 Dec 2020 #3

procon

(15,805 posts)
1. Religion is big business.
Mon Dec 28, 2020, 06:06 PM
Dec 2020

If the church is so flush with real cash asserts that they can dabble in the real estate market and send millions gambling in financial investments, how are they any different than a multi billion dollar mega corporation?

Start with no taxes. This is the biggest, longest running scam in history. What do all those poor people get when they add their hard earned pennies to the collection bucket?

 

shrike3

(5,370 posts)
3. You might want to read the C & O statement of purpose up top. And maybe share this story in the
Tue Dec 29, 2020, 04:11 PM
Dec 2020


Religion forum. Better place for your comment and or the kind of discussion you'd like to have.
Latest Discussions»Alliance Forums»Catholicism and Orthodox Christianity»Pope Francis Strips Power...