ENI: Christian thinkers in ‘financial capital’ urge return to basic banking

Posted by Kendall Harmon

Calls for a return to basic banking and an economy propelled by values other than greed have been made in London, one of the world's financial capitals, at a conference of Christian thinkers examining the current economic crisis.

"We face today a choice between a political economy based on greed and consumption and a way of life which is based on a sustainable and just relationship with our neighbor," the Rev. Bob Fyffe, general secretary of Churches Together in Britain and Ireland, declared.

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Filed under: * Culture-WatchReligion & Culture* Economics, PoliticsEconomyThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* International News & CommentaryEngland / UK

Posted January 25, 2009 at 2:27 pm

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1. Terry Tee wrote:

All this ‘bash the banks’ thing makes me feel queasy, and the sickly reference to HSBC having been saved by having a priest at the helm increases the nausea.  Let’s be honest:  churches have enormous amounts tied up in investments, including, of course, pension funds.  When the going was good we were only too keen to pocket the dividends and rarely asked how they were obtained.  I suspect that even an ethical audit of investments would not have tripped over the derivatives side of things:  it would have been focussing on arms, alcohol and gambling.  So yes, the bankers need to hang their head in shame - but surely there should be a moment of penitence for us too?

January 25, 6:19 pm | [comment link]

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