Tuesday, January 26, 2010

God moves in mysterious ways…

Church of England counts cost of New York property deal

The Church of England has suffered a £40 million loss on a disastrous investment in a New York apartment complex that was acquired by a consortium in 2006 for $5.4 billion — the biggest single residential property deal in the United States. A spokesman for the Church Commissioners said that it had written off the entire value of its investment and added that the commissioners were “looking carefully” at the lessons to be learnt.

Posted by cornishman @ 10:08 AM (1547 views)
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6 thoughts on “God moves in mysterious ways…

  • Why did the CofE not think to invest its funds in the UK where at least it could have housed UK homeless – even if it lost some money on the deal?

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  • Better send the collection plate round twice this Sunday!

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  • Why didnt they learn from past mistakes – not the first time they have fallen foul of Concentration Risk.

    cornishman said…Why did the CofE not think to invest its funds in the UK – this is where they had their fingers burned last time – maybe they thought it would turn out different in the US (LOL)

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  • charlie brooker says:

    Its what Jesus would have wanted.

    @cornishman: Agreed. The hypocrisy of the Church could hardly be better highlighted than by showing that it engages in these kind of activities; investing in luxury apartments in the very capital of world greed.

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  • A man warned us about hypocritical money changers. It was the only time he ever got violent.

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  • God will banish you all to eternal burning hell for saying that, but he loves you.

    BTW, How old is earth?

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