Archbishop with egg on his face

  Algerian peter ™ 22:12 25 Jul 13
Locked

his pension is invested in Wonga.

click here

  spuds 00:18 26 Jul 13

Like most pension funds, I doubt if any of the subscribers to a pension company actually knows where or how the monies being invested. Most people are only concerned with the returns, and the pension they are receiving or due to receive.

  Quickbeam 06:36 26 Jul 13

It'll probably have a positive effect in forcing pension fund managers to try to find ethically acceptable investments, and possibly a rush to dump Wonga from existing investments.

That alone would be the first step towards bringing about the downfall of the super high interest rate rip-off loan sharks. PCA recently mentioned that they have a policy of not carrying those sort of ads.

  morddwyd 06:50 26 Jul 13

Wasn't there something about moneylenders in the Temple?

  Quickbeam 07:21 26 Jul 13

It's nothing new then.

  Aitchbee 07:50 26 Jul 13

Holy Pension Pot

...never made it, on to Robin's list 1]: [click here

  fourm member 08:03 26 Jul 13

'The fund claims to have a strong ethical investment policy that bans firms involved in payday lending.'

From the opening link.

I actually feel a little sorry for Justin Welby. After all the talk about him coming from a real world background, it turns out he's just as naive as someone who has spent his whole life in a cathedral close.

The payday lender discussion occupies just two paragraphs of a very long interview that is supposed to help with improving the church's position in society. And he doesn't talk about 'forcing' Wonga out of business.

He clearly didn't realise that the rest of the media would have latched onto that one small item and that could explain why he didn't think to check that the church didn't have any embarrassing links to the payday lenders.

  alanrwood 09:48 26 Jul 13

Still does not invalidate what he has suggested which I support even as an atheist.

  flycatcher1 09:57 26 Jul 13

Is this an Archbishop pretending to be a Banker or a Banker pretending to be an Archbishop?

I would have thought that there were plenty of in-house problems in the Church of England to be sorted out before their leader ventured outside his remit. An Established Church with no equal opportunities for Women and Gays does not give it the right to find fault with others.

Archbishop Welby has, at least, tried to divert attention from the glaring drawbacks in his own organisation.

I do not agree with an Established Church whose Bishops have the right to sit in the House of Lords and play a part in law making.

  morddwyd 10:51 26 Jul 13

"I do not agree with an Established Church whose Bishops have the right to sit in the House of Lords and play a part in law making."

They have as much right to be there as hereditary peers (which in my view is none at all, but that's a different story!).

  alanrwood 11:08 26 Jul 13

Hi Flycatcher1

I have some sympathy for what you say however it is not unusual to try and tackle more than one problem at a time and at least tackling loan sharks is a positive step. The rest of the items ie Gay and Women priests is not my concern as I said I'm an athiest although I do see some hypocrisy there

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