Power, Money, and Corruption in the Vatican Bank

The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid, with many millions going to dioceses that have paid huge settlements or sought bankruptcy protection because of clergy sexual abuse cover-ups.

From its inception in the early 300’s in Rome, the Roman Catholic Church has always been about the money. They invented the concept of Purgatory, a hold place where souls go while awaiting Heaven, so they could then sell indulgences to their bible illiterate followers to buy their loved ones out. As recently as 2018, Pope Francis was busy selling these indulgences to Catholics who remain woefully ignorant of what the bible teaches. But their money heist in 2020 is one to break the bank, literally.

“How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow. Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her.”

 Revelation 18:7,8 (KJB)

How laughable it is that Roman Catholic priests take a ‘vow of poverty’ while all the while living like kings. In New York City alone, the Roman Catholic Church took $28,000,000 just to finance its top executive officers, how does that line up with your ‘vow of poverty’? The amount that the church collected, between $1.4 billion and $3.5 billion, is an undercount. The Diocesan Fiscal Management Conference, an organization of Catholic financial officers, surveyed members and reported that about 9,000 Catholic entities received loans.

And how much money did you receive from the coronavirus stimulus bailout? Bless me father, for I have sinned…and they laugh themselves all the way to the bank.

AP: Catholic Church lobbied for taxpayer funds, got $1.4B

FROM THE AP: The church’s haul may have reached — or even exceeded — $3.5 billion, making a global religious institution with more than a billion followers among the biggest winners in the U.S. government’s pandemic relief efforts, an Associated Press analysis of federal data released this week found.

Houses of worship and faith-based organizations that promote religious beliefs aren’t usually eligible for money from the U.S. Small Business Administration. But as the economy plummeted and jobless rates soared, Congress let faith groups and other nonprofits tap into the Paycheck Protection Program, a $659 billion fund created to keep Main Street open and Americans employed.

By aggressively promoting the payroll program and marshaling resources to help affiliates navigate its shifting rules, Catholic dioceses, parishes, schools and other ministries have so far received approval for at least 3,500 forgivable loans, AP found.

THE ARCHDIOCESE OF NEW YORK, FOR EXAMPLE, RECEIVED 15 LOANS WORTH AT LEAST $28 MILLION JUST FOR ITS TOP EXECUTIVE OFFICES. ITS ICONIC ST. PATRICK’S CATHEDRAL ON FIFTH AVENUE WAS APPROVED FOR AT LEAST $1 MILLION.

In Orange County, California, where a sparkling glass cathedral estimated to cost over $70 million recently opened, diocesan officials working at the complex received four loans worth at least $3 million. And elsewhere, a loan of at least $2 million went to the diocese covering Wheeling-Charleston, West Virginia, where a church investigation revealed last year that then-Bishop Michael Bransfield embezzled funds and made sexual advances toward young priests.

Simply being eligible for low-interest loans was a new opportunity. But the church couldn’t have been approved for so many loans — which the government will forgive if they are used for wages, rent and utilities — without a second break.

Religious groups persuaded the Trump administration to free them from a rule that typically disqualifies an applicant with more than 500 workers. Without this preferential treatment, many Catholic dioceses would have been ineligible because — between their head offices, parishes and other affiliates — their employees exceed the 500-person cap.

“THE GOVERNMENT GRANTS SPECIAL DISPENSATION, AND THAT CREATES A KIND OF STRUCTURAL FAVORITISM,” SAID MICAH SCHWARTZMAN, A UNIVERSITY OF VIRGINIA LAW PROFESSOR SPECIALIZING IN CONSTITUTIONAL ISSUES AND RELIGION WHO HAS STUDIED THE PAYCHECK PROTECTION PROGRAM. “AND THAT FAVORITISM WAS WORTH BILLIONS OF DOLLARS.”

The amount that the church collected, between $1.4 billion and $3.5 billion, is an undercount. The Diocesan Fiscal Management Conference, an organization of Catholic financial officers, surveyed members and reported that about 9,000 Catholic entities received loans. That is nearly three times the number of Catholic recipients the AP could identify. READ MORE

A fast-paced exposé of the money and the cardinals-turned-financiers at the heart of the Vatican, by an acclaimed journalist.

by Geoffrey GriderJuly 10, 2020NOW THE END BEGINS SHARE:Facebook208TwitterMeWeRedditEmailShare

The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid, with many millions going to dioceses that have paid huge settlements or sought bankruptcy protection because of clergy sexual abuse cover-ups.

From its inception in the early 300’s in Rome, the Roman Catholic Church has always been about the money. They invented the concept of Purgatory, a hold place where souls go while awaiting Heaven, so they could then sell indulgences to their bible illiterate followers to buy their loved ones out. As recently as 2018, Pope Francis was busy selling these indulgences to Catholics who remain woefully ignorant of what the bible teaches. But their money heist in 2020 is one to break the bank, literally.

“How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow. Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her.” 

Revelation 18:7,8 (KJB)

How laughable it is that Roman Catholic priests take a ‘vow of poverty’ while all the while living like kings. In New York City alone, the Roman Catholic Church took $28,000,000 just to finance its top executive officers, how does that line up with your ‘vow of poverty’? The amount that the church collected, between $1.4 billion and $3.5 billion, is an undercount. The Diocesan Fiscal Management Conference, an organization of Catholic financial officers, surveyed members and reported that about 9,000 Catholic entities received loans.

And how much money did you receive from the coronavirus stimulus bailout? Bless me father, for I have sinned…and they laugh themselves all the way to the bank.

AP: Catholic Church lobbied for taxpayer funds, got $1.4B

FROM THE AP: The church’s haul may have reached — or even exceeded — $3.5 billion, making a global religious institution with more than a billion followers among the biggest winners in the U.S. government’s pandemic relief efforts, an Associated Press analysis of federal data released this week found.

Houses of worship and faith-based organizations that promote religious beliefs aren’t usually eligible for money from the U.S. Small Business Administration. But as the economy plummeted and jobless rates soared, Congress let faith groups and other nonprofits tap into the Paycheck Protection Program, a $659 billion fund created to keep Main Street open and Americans employed.

By aggressively promoting the payroll program and marshaling resources to help affiliates navigate its shifting rules, Catholic dioceses, parishes, schools and other ministries have so far received approval for at least 3,500 forgivable loans, AP found.

THE ARCHDIOCESE OF NEW YORK, FOR EXAMPLE, RECEIVED 15 LOANS WORTH AT LEAST $28 MILLION JUST FOR ITS TOP EXECUTIVE OFFICES. ITS ICONIC ST. PATRICK’S CATHEDRAL ON FIFTH AVENUE WAS APPROVED FOR AT LEAST $1 MILLION.

In Orange County, California, where a sparkling glass cathedral estimated to cost over $70 million recently opened, diocesan officials working at the complex received four loans worth at least $3 million. And elsewhere, a loan of at least $2 million went to the diocese covering Wheeling-Charleston, West Virginia, where a church investigation revealed last year that then-Bishop Michael Bransfield embezzled funds and made sexual advances toward young priests.

Simply being eligible for low-interest loans was a new opportunity. But the church couldn’t have been approved for so many loans — which the government will forgive if they are used for wages, rent and utilities — without a second break.

Religious groups persuaded the Trump administration to free them from a rule that typically disqualifies an applicant with more than 500 workers. Without this preferential treatment, many Catholic dioceses would have been ineligible because — between their head offices, parishes and other affiliates — their employees exceed the 500-person cap.

“THE GOVERNMENT GRANTS SPECIAL DISPENSATION, AND THAT CREATES A KIND OF STRUCTURAL FAVORITISM,” SAID MICAH SCHWARTZMAN, A UNIVERSITY OF VIRGINIA LAW PROFESSOR SPECIALIZING IN CONSTITUTIONAL ISSUES AND RELIGION WHO HAS STUDIED THE PAYCHECK PROTECTION PROGRAM. “AND THAT FAVORITISM WAS WORTH BILLIONS OF DOLLARS.”

The amount that the church collected, between $1.4 billion and $3.5 billion, is an undercount. The Diocesan Fiscal Management Conference, an organization of Catholic financial officers, surveyed members and reported that about 9,000 Catholic entities received loans. That is nearly three times the number of Catholic recipients the AP could identify. READ MORE

How Much Power Does The Vatican Have?

Power, Money, and Corruption in the Vatican Bank

A fast-paced exposé of the money and the cardinals-turned-financiers at the heart of the Vatican, by an acclaimed journalist.