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Blackburn church leader hits out at ‘obscene’ bonuses

CRITIC Mr Armstrong CRITIC Mr Armstrong

A TOP churchman has slammed bankers who receive high bonuses as “obscene”.

But the Dean of Blackburn, the Very Rev Christopher Armstrong, said that life for people will continue despite the hardships of the economic crisis even if there has to be a “limit of trips to the pub or golf course”.

Mr Armstrong said: “Life in all its fullness will continue and may almost certainly be enhanced by the stripping away of some of our smart possessions.

“We still have life, talents, dignity, humour sometimes and generosity as well as hope.”

He said that another outcome of the credit crunch was that there will would be a “growing parity” in wages.

Mr Armstrong added: “It is appalling that some of our leading bankers will be carrying off huge bonuses hey have ‘achieved’ while simultaneously standing in the way of small businesses who desperately need a loan.

“I’m glad that strident voices have objected to that intention.”

Comments(5)

akon says...
4:44pm Wed 11 Feb 09

I suggest you look at why your congregation's are dwindling & why you dare not speak out about the islamification of our country,I find you & the church of England's silence on this matter OBSCENE !

jackthelad says...
6:10pm Wed 11 Feb 09

the should be protests out side every bank in the country. to many fat cats but the tories seem to support them. the great thing done in this country as been done by the working class and that includes the fighting and winning of wars. WE HAVE TO SORT IT OUT EVERY TIME

Joseph Yossarian says...
9:24am Thu 12 Feb 09

Typically Hypocritical of the God-Squad

What's also a scandal is the amount of money earned by the church and how little tax they pay. The tax dodging antics of the church of england and their reluctance to pay their way (water charges, clergy pension safeguards etc etc ....) makes the banking industry seem almost angelic.

Meanwhile CofE vicars with criminal convictions will contintune to get their pensions.....

The Dean seems to chastise banks for losing money and then chastise them for restricting lending to small businesses in recession. This shows only his complete ignorance in such matters.

The Dean also fails to mention that a leading director of one of the biggest banks in the world is also....a CofE preacher!


The Dean is thowing stones around in his own big glass house and shouldn't be surprised if a few things break.

Maybe the church losing money from its billions invested in the stock market has something to do with it. Old fashioned sour grapes.

Then again, the church could free up some of its 5,600,000,000 in net assets to help small businesses. They already act as a lending bank (the irony of that!) to property developers so why not small business too?

(answer: Self interested crooks, that's why not)

Joseph Yossarian says...
10:50am Thu 12 Feb 09

PS the CofE directly contributed to banks bonus culture.
At the end of 2007 the Cof had about £340m invested in shares in the banks and was quite happy to take the profits in the good times and shout about how good their investment returns were.


Now it's all gone pear shaped, the dean's masters have lost (1st guess) about 250million of church money through investing in banks. One of which included a CofE preacher as a director.
(That 60m invested in RBS now worth about 1m......)

Glass house etc etc etc etc

The offspring says...
5:05pm Thu 12 Feb 09

Could it be that there is no need for relgion in modern society?

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