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.
August 2nd, 2008 at 8:04 pm
But think of the benefit to the Cathedral mice…poor things
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…