Insight: Pope to review Vatican bureaucracy, scandal-ridden bank

Comments (26)
Roma247 wrote:

I don’t understand. I thought the Bible was quite clear about usury being sinful. How is it that the Vatican itself is lending out money at interest??? This ought to be a very simple question with an even simpler answer…

Apr 02, 2013 10:14am EDT  --  Report as abuse
dubya242 wrote:

Now is a good time to reinstitute the medieval ban on usury as a mortal sin.

Apr 02, 2013 10:41am EDT  --  Report as abuse
Portia27 wrote:

Mark my words…NOTHING will change…MONEY talks…NO one changes The Vatican!

Apr 02, 2013 11:07am EDT  --  Report as abuse
FarmerGiles_ wrote:

If only our own leaders could show the humility and boldness of Pope Francis. I am not a Catholic or even a Christian, yet I continue to be inspired by this man.

Readers, can you even imagine Mitt Romney or Barack Obama lowering themselves to wash prisoner’s feet? Would they ever contemplate closing a bank whose leadership had run amok? Is there any member of Congress who would do so? We all know the answer.

Apr 02, 2013 11:16am EDT  --  Report as abuse
pbgd wrote:

Popes never had banks of their own until 1879, after the establishment of the Italian nation and the separate Vatican State required it.

Apr 02, 2013 11:21am EDT  --  Report as abuse
Galut11 wrote:

Time will tell whether he can sort it all out …

Apr 02, 2013 11:25am EDT  --  Report as abuse
IntellectOne wrote:

The Vatican is a sovereign State and should always have their own bank.
Why shouldn’t they? If the ‘Truth’ be known, the Vatican Bank is just as transparent than any other countries bank. What about using the model that the Swiss Banks use for their banking system? Are they “transparent” and how would anyone know? Also, what about any of the banks in the USA, and look at Greece, do people really know what is going on? The Vatican needs its own bank and should get out of the Euro group, because the Europe Commission refuses to recognize and document the Christian History and all the money and land that was stolen, from The Catholic Church, by the governments in the past and now it appears they even want to steal the bank? Is this to control the movement of the money that has been donated to the Roman Catholic Church so that they can tie their hands and feet?

Apr 02, 2013 12:03pm EDT  --  Report as abuse

The Vatican is no different than any other organization in how it is run and in how it reacts to things affecting it. There are as many corrupt priests as there are businessmen and they daily handle the huge amounts of Vatican? money. Do these people have any idea that they are one of the main reasons why so many Catholics are non practicing Catholics? The joke of infallibility is another reason why so many have given up.

Apr 02, 2013 12:06pm EDT  --  Report as abuse

That’s why John Paul I was killed, for tampering with the IOR. I don’t believe for one minute that this Jesuit cares to fix the problems with the Vatican bank.

Apr 02, 2013 12:31pm EDT  --  Report as abuse
IntellectOne wrote:

To RufulVonDufus2
The ‘Infallibility’, which is a fact, has nothing to do with corrupt priests, religious,cafeteria Catholics,and then there are the corrupt politicians,(the heretics), that call themselves Roman Catholic, in public, but vote and promote evil with their public policies. However, ‘Infallibility’ has everything to do with ‘Doctrine’. The Vatican is not an “organization” it is a Sovereign City State. It must have its own bank, because that is the money that belongs to the See of Peter, The Holy Chair of Peter, the ‘Centre of Catholicism’ which is the Kingdom of God on Earth.

Apr 02, 2013 1:11pm EDT  --  Report as abuse
scythe wrote:

(quote) “could restructure or even close”

if this reporter can only find anonymous sources about “coulds, woulds, shoulds …”

then it’s fiction or a lie

Apr 02, 2013 1:19pm EDT  --  Report as abuse
whimmer4 wrote:

Peter never called himself “Pope Peter”. He never called himself “the Bishop of Rome”. Peter referred to himself as a church elder. In fact, he is gone from the book of Acts quite early on, Paul did not address him in his letter to Rome (shouldn’t he have, if he was the “Bishop of Rome”?). When Jesus spoke of the Rock…the Rock he was establishing the Church upon was Peter’s confession of Christ as Lord and Savior, NOT ON THE MAN PETER! Please recall that right after this establishment, he told Peter “get thee behind me Satan!”. The entire Papacy is an anti-Christian lie. In the True Church, each of us saved souls is a Priest, and Ambassador of Christ on Earth. Have a nice day.

Apr 02, 2013 1:42pm EDT  --  Report as abuse
Harry079 wrote:

It is my belief that Pope Francis will make the changes that need to be made to bring to Vatican back to serving the faithful and the poor of the world.

Apr 02, 2013 1:50pm EDT  --  Report as abuse
Portia27 wrote:

Mr. FarmerGiles: I strongly suggest you take a wait and see attitude…it sounds GREAT…but, when it comes to money, NOTHING ever changes…just wait and see…this Bank will continue on as it always has…NO POPE will change the ways of The Vatican

Apr 02, 2013 2:24pm EDT  --  Report as abuse
Bob9999 wrote:

The Vatican has plenty of ways to get money to replace any benefit it may have received from profits from banking. Just as the bank is neither fundamental, nor sacramental, nor required by dogma, the Vatican is weighted down by many luxurious possessions that are neither fundamental, nor sacramental, nor required by dogma. Indeed, such possession may hinder the efforts of the Vatican to fulfill its original mission. Michelangelo’s David, for example, might fetch as much as $1 billion at auction. That and other works of art could be liquidated, and the proceeds could put the Vatican into a financial position comparable to that of the Gates Foundation.

Apr 02, 2013 2:49pm EDT  --  Report as abuse
Globalman wrote:

As a banker I can state that the compliance regs, laws, standards etc. are confusing and not always clear. They also are constantly changing and not always in a logical way. While I cannot comment on the specifics of the issues surrounding the IOR, it does not mean this bank or any other are always engaged in money laundering or criminal activities. Many of these cases are technical violations in reporting, misunderstanding of the confusing regs/standards. In addition there are many entities putting forth these standards including central banks, governments, legislative bodies, multiple regulators, law enforcement agencies, cross border committees, study groups, global non-profit groups etc etc. So the headline proclaiming a bank is money laundering may not be the case.

Apr 02, 2013 2:52pm EDT  --  Report as abuse
mfm321 wrote:

@Globalman, thank you for your very informative comment! It was very thorough.

Apr 02, 2013 3:08pm EDT  --  Report as abuse

You are a journalist, learn to write.

Apr 02, 2013 3:35pm EDT  --  Report as abuse
xyz2055 wrote:

It just like Glenn Frey described it….”the lure of easy money has a very strong appeal”..even in the Vatican.

Apr 02, 2013 4:10pm EDT  --  Report as abuse
IntellectOne wrote:

To Whimmer4
Jesus changed the Apostle’s name from Simmon to Peter (there are other languages besides English) Peter means ‘Rock’. Jesus said, “upon this Rock I Will Build MY Church”. Not your church or anyone else’s opinion of a church. Jesus gave Peter the Keys to the Kingdom of Heaven.
When Peter was trying to leave Rome, after escaping from Rome’s prison to avoid being persecuted, he was met by Jesus on ‘The Appian Way’. Peter said to Jesus, “Master! Domine, quo vadis?” (“Lord, where are you going?”) And Jesus answered: Eo Romam iterum crucifigi (“I go to Rome to be crucified anew) This made Peter turn around, go back to Rome and face his martyrdom. Peter was crucified up-side-down, upon his request, because he did not feel worthy of being crucified like Jesus Christ. Clearly, Jesus Christ is the Head of the Roman Catholic Church, but gave Peter, His Authority, to be in charge of His Church on earth. Jesus said to Peter, “I will pray for you”. As of today, Pope Francis is sitting in the same Holy Chair of Peter, after more than 2000 years. The Church Stands with all its Treasures and its Magnificence for the ‘Glory To God’ in His Kingdom on Earth.
No, you are a priest with the lower-case ‘p’. The one that receives the Sacrament of Holy Orders is a Priest with the upper-case ‘P’. The seven Sacraments were established by Jesus Christ Himself. Maybe you are missing some books or paragraphs from the Bible; perhaps parts of John’s Gospel. To be a faithful Roman Catholic one must believe in: The Magisterium, Sacred Tradition, and the Holy Bible. Hope and Pray that you also have a nice day.

Apr 02, 2013 4:20pm EDT  --  Report as abuse
ConstFundie wrote:

The Catholic Church is not cleaned of prostitution, rape, or corruption, by handing the podium over to a more ‘huggy’ Pope, or did i miss the crucifixion?

@Globalman, Sure, banks collapsing all over the world, not because of tax fraud, interest fixing, commodity gambles, insurance schemes, and corruption, but ‘probably’ because of ‘confusing’ over-regulation. I suppose this all happened post-2008, when a few common-sense lending regulations were enacted as a ‘compromise’ to bankruptcy? Regulations that were traditional lending policies of responsible banking businesses.

The Banks Regulate if not Own the legislators from Local to Federal levels, especially in the Vatican. The Pope(s)and the Bankers would be gorging on Humble pie if they had any honesty, sincerity, or faith.

Apr 02, 2013 4:53pm EDT  --  Report as abuse
kiwibird wrote:

INTELLECT ONE thank you for your interesting and learned response to the standard ignorance that comes from overly enthusiastic protestants.

Apr 02, 2013 4:55pm EDT  --  Report as abuse
inplainsight wrote:

When Peter was trying to leave Rome, after escaping from Rome’s prison to avoid being persecuted, he was met by Jesus on ‘The Appian Way’. Peter said to Jesus, “Master! Domine, quo vadis?” (“Lord, where are you going?”) And Jesus answered: Eo Romam iterum crucifigi (“I go to Rome to be crucified anew) This made Peter turn around, go back to Rome and face his martyrdom.

could you quote the source for this information?

Also the N.T. is in Greek and two Different words(for rock) are used by the Inspired writer. Early church Fathers writings confirm this.

Apr 02, 2013 7:11pm EDT  --  Report as abuse
IntellectOne wrote:

All the money that comes into the Vatican Bank belongs to the The One Holy Catholic and Apostolic Church; The Bride of Christ.
The money is to preserve Her Treasures and Her beauty. The Church also spends billions of dollars to proclaim, its purpose,as Jesus requested, Peter feed my sheep and spread the Gospel. Feed the poor, cloth the hunger,provide healthcare services and educate mankind for their purpose of existence. This is all so that everybody, by their own ‘Will’, can be in Communion with all the Saints and Live forever and ever and ever…………..

Apr 02, 2013 7:38pm EDT  --  Report as abuse
fniper wrote:

You of little faith. Jesus etablished a church to help the imperfect find forgiveness, those who persecute that Church must promote perpetual guilt, because you have little hope, and little faith in the words Jesus Himself taught us in Lord’s Prayer.

Apr 02, 2013 7:50pm EDT  --  Report as abuse
fniper wrote:

No other institution even approaches the good that the One True Church accomplishes. Feeding the poor, caring for the sick, giving hope to those in prison, establishing justice and providing an unchanging bulkwark which resists the urgings of those who wish to build a godless society where sin and perversion is embraced under the flags of modernism and humanism.

Apr 02, 2013 7:57pm EDT  --  Report as abuse
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