Wednesday, June 26, 2013

"Low Expectations for Vatican Bank Commission" by Tom Reese/National Catholic Reporter

..."To me it looks like the traditional Vatican approach to dealing with a PR problem: Appoint a committee, mostly clerics, who have no expertise in the topic under study and ask them to come back with a report.
Sorry, we expect more from this papacy.
To be effective, the papal commission should have been composed of people with expertise in banking, such as accountants, bank board members, and government investigators and regulators. How many people on this commission even know what forensic accounting is? There is no need for any clerics on such a commission. Examining a bank is not a job for amateurs.
I must confess that I hold a minority view. I believe that the Vatican bank problem is on its way toward solution thanks to Pope Benedict’s decision that the Vatican has to observe the standards set by Moneyval, the European agency dealing with money laundering...."

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