15 August, 2014
This Pope means business
This Pope means business: One of his rules is that big donors and companies that do business with the church should get no special treatment. Before he took charge in Buenos Aires, the archdiocese was a large shareholder in Argentine banks, and the banks regularly granted their ecclesiastical investor loans on easy terms. As cardinal, Francis denounced the arrangement as a blatant conflict of interest and sold all the archdiocese’s bank holdings. He also refused to attend fundraising dinners, usually regarded as one of a cardinal’s top jobs. His aversion to catering to the wealthy didn’t stop with his ascension to the papacy. It’s a Vatican tradition that the Secretariat of State, which receives donations from the rich on the pontiff’s behalf, would reward big donors by arranging special audiences and masses with the pope. Pope Francis ended the practice.