Why the US Catholic Church Loves Irish Bank ...

[rizlaplus]

.. and vice versa.

The Catholic Church in the U.S. borrowed more than $400 million from Allied Irish Banks (AIB) to compensate American victims of clerical sex abuse. The huge compensation sum was paid from loans to the Church from the now state-owned Irish bank in 2007. A new book entitled "Render Unto Rome: The Secret Life of Money in the Catholic Church" outlines the full extent of the dealings between the Church and Allied Irish Banks. The $400 million borrowed was used to compensate clerical abuse victims in America and led to AIB becoming known as the Vatican’s banking arm in U.S. legal circles.' http://www.irishcentral.com/news/US-Church-borrowed-at-least-400-million-from-Irish-bank-to-pay-American-abuse-victims-128145603.html

WTF! Didn't AIB know that Catholic Dioceses were filing Chapter 11 bankruptcy in the US since 2004? As impenetrable as Catholic theology, doctrine and dogma is to me, the way Irish Banks do business is even more impenetrable!