Catholic bank caught making immoral investments.

Contraceptive pill

The Catholic Church is staunchly against the use of the pill

A 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.

The Catholic Church has historically condemned the use of contraception, for breaking the link between sex and procreation – 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.

Source: BBC

2 Responses to Catholic bank caught making immoral investments.

  • They were overlooked? wtf? didn’t someone place a buy order on that stock to begin with? I mean its not like buying millions of dollars worth of stock is possible without knowing what the company does and what its forecasts are… this was a deliberate investment made knowing full well who the companies involved were…what they done for a living and how much they made doing that…and what their products were used for.

    Overlooked my ass! They got caught….

    This is something akin to noticing a tiny hair sticking out from behind a tree in the forst… it looks innocent enough until you realise its attached to a bear!

    I’d hazard a guess that over the last couple of millenia the catholic church have amassed a few trillion in assets and very little of that would be compatible with the ‘ethical’ accumulation of wealth!

    They are child abusing, immoral scum…lways have been…and it doesn’t look like its about to change.

  • Looks like their true colors are starting to show.

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