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Dr. Rowan Williams, the Bishop of Canterbury and head of the Church of England (of which I’m a very lapsed member) ripped into the moneychangers in the temple the other week.

Asked if the City was returning to business as usual he said: “I worry. I feel that’s precisely what I call the ‘lack of closure’ coming home to roost. It’s a failure to name what was wrong. To name that, what I called last year ‘idolatry’, that projecting of reality and substance onto things that don’t have them.”

Full story here

Now that the C of E has noticed that European Union is quite serious about regulating hedgefunds, there’s been a rapid about-face.

You see, the church’s investments have dropped from £5.7bn to a mere £4.4bn in just over a year and they NEED THOSE HEDGEFUNDS to get their wealth back to where it was and a bit further, if you don’t mind.

Hypocritical bastards