Credit Crunch Does For The Church
DO you hear bells?
Cathedral officials have denied accusations of financial mismanagement after admitting that a £103,000 bequest to pay for new bells had lost two thirds of its value in the credit crunch.
The legacy, consisting of shares thought to be in a high street bank, has lost £67,950 in value in the 18 months since it was made.
Posted: 2nd, August 2008 | In: Broadsheets, Credit Crunch, Money, Twitterings Comments (2) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
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August 2nd, 2008 at 8:18 pm
“The cathedral has at all times acted on the advice of its professional investment and financial advisers.”
Never a good idea…
August 2nd, 2008 at 8:04 pm
But think of the benefit to the Cathedral mice…poor things