Pope Benedict and his investment team at Body of Christ Capital are steadfastly sticking to their message that you’re all going to burn in hell but the PMs over at the Church of England have apparently had a change of heart. Though Archbishop Rowan Williams just last month expressed discontent that the financial sinners in his flock had yet to repent and last year Archbishop John Sentamu described short selling as “bank robbery,” they’ve decided to go on record saying these hedge fund guys? Not as bad as we thought. In fact, the C of E is now lobbying for the industry, after being tipped off to the fact that proposals to regulate hedge funds might adversely affect their bottom line.
The Church Commissioners, who manage the £4.4 billion assets — down from £5.7 billion in 2007 — of the established Church, have criticised European proposals to regulate hedge funds.
A new European Union directive designed to limit the way hedge funds are managed restricts the Church’s ability to make money, the Church’s investment managers warn.
The letter warned that the new restrictions “will significantly restrict our ability to generate funds to pursue our charitable missions and thus reduce our impact for public good”.
They said there would be “unintended consequences” of the Alternative Investment Directive, which seeks to limit leverage, and to compel investors based in the EU to use only EU-based funds and deposit banks.
The signatories, who have investment porfolios worth a total of about £19.5 billion and spend nearly £1 billion a year on areas that are of “public benefit”, argue that more than nine out of ten global hedge funds are either not domiciled in the EU or have non-EU managers.
“To maximise the returns on our investments, we must have freedom to select the best investment managers, and funds, and to select the investment ideas that best meet our individual needs,” they say.
who hits more underage ass, hf guys or catholics?
@1 tough call
nice tags you sacreligious mynx.
What are the first year purgatory numbers?
@1: neither. I hit the most out of the combined group.
- Dennis Kneale
@5 we’re talking about homo sapiens here, pal, not homo spaniels.
@1 it really depends on who has more candy lying around
Fuck the catholics and I can say that because I’m one of them. Its not just the molesters that have given the church a bad name but, more importantly, the hierarchy that covered up the transgressions of others for decades. I can’t stand trial attorneys but I hope they bankrupt the entire organization, maybe then I’ll be willing to return and throw a few sheckels in the collection basket.
@8 let it out.
Almost mistook it for a Greg post.
@1, Known for their sustained, superb execution (facilitated by advanced grid-based computing), Goldman is the leader, especially in the U.S.
@10 mmm no you didn’t, because it sounds nothing like him.
Short selling is bank robbery eh?
Well then transubstantiation is counterfeiting, asshole.
@13 blow me (please)
-il papa
Isn’t this right out of Henry V, Act 1, Scene 1.
CANTERBURY “My lord, I’ll tell you; that self bill is urged. It must be thought on. If it pass against us, We lose the better half of our possession”
ELY: “But how, my lord, shall we resist it now?”
CANTERBURY “I have made an offer to his majesty, And in regard of causes now in hand, Which I have open’d to his grace at large,
to give a greater sum, Than ever at one time the clergy yet, Did to his predecessors part withal.”
we’ve got to shut these assholes down!
-JM
@8 I’m sure you were so devout before the scandals. Just broke your little heart.