Much has been written today about Kweku Adoboli, the “rogue trader” who lost £1.3 billion of other people’s money. One fact that has received little attention is that he went to a Quaker school.
Many economic commentators, and those working in banking and finance, thought that the worst of the global economic recession had gone away. They were wrong. It looks to be back with a vengeance.
The Christian Socialist Movement has said that controversies over banking, phone hacking and MPs' expenses all show a failure to exercise power responsibly.
The World Council of Churches has called on world leaders to put impoverished people first, instead of making priorities of big banks and military expenditure.
The Ecumenical Council for Corporate Responsibility and the Church of Scotland are delighted with the response to their recent ‘Banking on Justice’ conference.
Church and fair finance groups are due to meet in Edinburgh to look at what ethical and socially responsible banking and investment can mean for churches and the wider community.
Faith in mathematical modelling looks little more than hubris after the recent economic collapse, says Giles Fraser. The unknown cannot be so easily tamed, as any half-decent theologian would know.