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FRIDAY, SEP 26, 2008| 2 comments

Church accused of short-selling

The Church of England has been accused by a think-tank of using short-selling tactics to maximise profit on its Â£5 billion investments.

Jonathan Bartley, co-director of Ekklesia, said: "The archbishops should be extremely careful when attacking city 'bank robbers' for short-selling and speculation. The Church has benefited significantly from the speculation that has underpinned rising oil and commodity prices such as gold and copper.

"By its own admission it has also hedged against a fall in the value of sterling, and set up a currency hedging programme in 2006, effectively short-selling sterling in the currency markets." ...

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9/27/08 12:03 PM

Pikestaff

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""The archbishops should be extremely careful when attacking city 'bank robbers' for short-selling and speculation. The Church has benefited significantly from the speculation that has underpinned rising oil and commodity prices such as gold and copper."

The spiritually bankrupt, such as the C of E, need to raise funds somehow, since clearly providence is not going to come their way.

9/27/08 1:29 AM

33k

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A reminder as well, from not so very long ago, for those with an appreciation for irony.

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