September 26, 2008
Church Leaders Comment on the Market: Oops
Church leaders are using the economic crisis, as are politicians, to air old grievances about trading markets and capitalism. They should all take note of the problems of the Archbishop of Canterbury, Rowan Williams, the head of the Anglican Church, and his fellow Archbishop, John Sentamu of York. Williams took a position on the banning of short selling and Sentamu called traders who profited from falling prices "bank robbers and asset strippers." Both were informed that the Church of England uses both practices when it invests its own assets. The Church loans its stock, for a fee, to short sellers and invests heavily in hedge funds that use shorting in their trading strategies. Tisk, Tisk.
September 26, 2008 | Permalink
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