Pope Francis has apparently been running a hedge fund with the faithful’s donations

I've never been one to follow Vatican intrigue, but I do love forensic accounting and outing clever financial frauds. Pope Francis' Vatican has been a "rich" source of material on both accounts lately. When Pope Francis was inaugurated in 2013, he was widely celebrated for maintaining a modest lifestyle - like his namesake, my patron … Continue reading Pope Francis has apparently been running a hedge fund with the faithful’s donations

The staggering financial cost of predatory priests in the Catholic Church (and a do-nothing pope)

When I left graduate school to work at a major investment bank, I was surprised to learn that, from a financial standpoint, the Roman Catholic Church is essentially a franchise. But you learn that quickly when evaluating bond deals for improving Catholic facilities. Each diocese - and really, each parish - is an independent financial … Continue reading The staggering financial cost of predatory priests in the Catholic Church (and a do-nothing pope)