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Pope Francis At It Again

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I am pretty sure the editors of the Wall Street Journal would be disinclined to endorse Pope Francis' call for international regulation of markets via state action, to promote impact investment. Yet, that is just what he called for yesterday in speaking to a meeting at the Vatican on the theme "Investing in the Poor," which was organized, in part, by the University of Notre Dame. The pope said:

S. Court Backs Vulture Funds

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The U.S. Supreme Court has rejected Argentina's appeal of a lower court ruling in favor of predatory hedge funds that buy sovereign debt for pennies on the dollar and then seek repayment at full value. JubileeUSA, which had urged the court to rule against the vulture funds, has the story and their response here. This is very bad news and gives the lie to those who claim "rule of law" is sufficient regulation of markets.

The Fascinating Reactions to Paul Griffiths' CTSA Talk

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I confess up front to two difficulties in writing this morning. First, the text of Paul Griffiths’ talk at the recent Catholic Theological Society of America convention is not yet published and I was not in the room. Second, I am not a theologian by training but an historian, and the two enterprises yield different casts of mind to be sure. But, with those caveats stated, the issues raised by Griffiths, and the responses they are generating, are too fascinating to sit this one out.

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September 12-25, 2014

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