Catholic bank owned pill sharesBBC News | Page last updated at 21:46 GMT, Sunday, 2 August 2009 22:46 UK The Catholic Church is staunchly against
the use of the pillA Roman Catholic bank in Germany has apologised after admitting it bought stocks in defence, tobacco and birth control companies. Der Spiegel newspaper discovered the bank had invested 580,000 euros (£495,310, $826,674) in British arms company BAE Systems. It also invested 160,000 euros in American birth control pill maker Wyeth and 870,000 euros in tobacco companies.
The bank apologised for behaviour "not in keeping with ethical standards". Pax Bank has previously advertised ethical investment funds, specifically claiming to avoid arms and tobacco companies along with organisations that do not adhere to Catholic beliefs.
Since 1968 the Catholic church has condemned contraception - a view emphatically upheld by current Pope Benedict XVI. In the past he has called birth control a "grave sin".
A spokesman for Pax Bank said: "We will rectify the mistakes immediately without negative consequences for our clients. "Unfortunately in a few internal reviews, the critical investments in question were overlooked - we deeply regret this." The spokesman thanked journalists for bringing the controversial investments to its attention.
http://news.bbc.co.uk/2/hi/europe/8180739.stm">LINK
- Now that we've heard the confession, I'm sure there are some out there who are wondering if they'll just be given a bunch of "Hail Marys" to fix this one.
It's a good thing this is a German bank though. If it had been American bankers, they'd just give themselves bonuses, go to fancy resort hotel for a meeting and hire a bunch of hookers.......==============================================================================
DeSwiss
http://www.atheisttoolbox.com/">The Atheist Toolbox
"The great enemy of the truth is very often not the lie, deliberate, contrived and dishonest, but the myth, persistent,
persuasive, and unrealistic. Belief in myths allows the comfort of opinion without the discomfort of thought." ~ John F. Kennedy (on edit: improved accuracy of subject title)