How The Catholic Church Shielded Billions From Its Bankruptcies

[@business]

Check out Josh Saul's full story here: www.bloomberg.com/news/features/2020-01-08/the-catholic-church-s-strategy-to-limit-payouts-to-abuse-victims

[@noirto2]

oh wow, pay no tax as church and still allowed to file bankruptcy..

[@MrPromerican]

As a catholic myself..it pains me to see this. I hope those victims would recover from pain and suffering. As for the church...no more donations from me....

[@timfronimos459]

THIS VIDEO DESERVES AN AWARD!

[@FinancialShinanigan]

The Church forgets that Jesus toss all the merchants and money changers out of the Temple

[@zurinarctus1329]

Because Paul the Apostle created the whole mess.

[@davidf7076]

I like your Christ, I do not like your Christians, Your Christians are so unlike your Christ- Gandhi

[@vondahe]

Transferring funds and assets prior to bankruptcy is considered serious fraud in my country.

[@SpeedFranklin]

I'm so glad some victims and business managers are brave enough to come forward like this, even if their careers, communities, sometimes even lives are on the line. I grew up in Santa Fe and know Christine; she is a wonderful person with tremendous faith. So when she says she has to come forward to expose an organization she has dedicated her life to building up, you know it has to be a deeply held conviction. Thank you!!

[@HarryToeface]

How are you able to file bankruptcy when you never paid any taxes? Those things should be reserved for tax payers only.

[@KS1776]

Isaac thank you for sharing your story.

[@IsaacCasados]

Thank you. It needs to be shared.

[@charlesgallagher1072]

You will make a huge difference and hopefully protect some future children. The heart of what attracts these people to the church, where they are protected, is the issue.

[@AM-er9oi]

If this was a mosque it would be more on main stream media, people protesting to start closing mosque, muslim bans. I feel for the victims, people need to be held accountable.

[@ShaudaySmith]

Bloomberg has some great in-depth stories on these events. Great video

[@ubadahoop]

The victims deserve better than this. The Catholic Church needs to properly address these clearly systemic issues.

[@livingroomtv9591]

Imagine, an institution devising a strategy to avoid responsibility from an issue they are aware of. A religious institution that is.

[@Dalisu87]

Government should step in, why isn’t the FBI on this?

[@coreytaylor447]

because its the IRS's jurisdiction and they dont like to talk to the press a lot

[@gidd]

Religious institutions need to start getting taxed!

[@MBisFrenchy]

Agreed and those hiding in Vatican need to be held accountable and imprisoned.

[@esgee3829]

red herring. that doesn't prevent recurrence. better oversight by a more informed laity who demand transparency and governments who demand the same are the answer.

[@moodist1er]

As a corporation, the catholic church gives less than 0.001% of its income to charitable causes. And it's income from investing alone is significant af.

[@Bezbroj]

where did you get that percentage?

[@moodist1er]

@@Bezbroj its from a few years ago when I compared their income to their charity costs.

[@jusmecatalina]

Each parish is responsible for their own accounting. When in the deep red, they close and sell the real estate.

[@moodist1er]

@@jusmecatalina eh, when people talk about "the catholic church" vs "a catholic church" , they're talking about the Holy See.

[@nullfield6514]

Tax the church

[@hartdr8074]

Keep up these amazing content. GJ bloomberg woooo

[@PresidentialWinner]

19:20 Corrupt churches protected by corrupt courts

[@abcqer555]

Thank you for making and sharing this. Shining a light onto the morally corrupt behaviours of organized religion is hugely helpful.

[@eduardm1301]

Where are those people claiming that there Catholic religion is the church of Jesus Christ's established? When infact, their act is evil.

[@carademarcus]

What’s messed up is those people were some of the same people giving money to the church their whole lives

[@konrad1126]

Can someone clarify? So the church had an increasing number of lawsuits being made against them. Instead of continually paying out settlements to the victims they shifted assets and then claimed bankruptcy. The shifting of assets would reduce that particular church organisation's worth, therefore it would lower the amount it has to pay out to the victims?

[@criticalthinker3855]

Do the right thing, pay the damages to the victims!!!

[@AlTorresFineArt]

I wish the church would follow the true teachings of Christ. and not the all mighty dollar!

[@jakev8510]

Really amazing reporting. This is incredible

[@Phlegethon]

The solution is don’t believe in people selling you fairy tales

[@Xenon-4300]

Sounds more like a business than anything else to me. That's how I felt when I was in a fraternity.

[@AbinAnjalise]

Thank you guys for this video! The world needs to know the true devils among us!

[@gidd]

This is the sad thing about religion

[@saelbaloch6892]

Sad thing about *Catholic...not all religions support or do such an evil act

[@oxdoc]

Should the question not be about why the abuse is happening in the first place? The Catholic Church as an organisation has a problem that needs to be sorted out from the source.

[@jagrutbrahmbhatt733]

Albuquerque and a lawyer named Saul....hmmm rings a bell

[@naftalianderson146]

You are pursing justice in the civil courts is really a criminal matter.

[@jeffreycarmody429]

More evidence is required in criminal court. It has to be proven "beyond a reasonable doubt," which can be difficult if there is no tangible evidence of abuse. It is easier to get some retribution in civil court.

[@skylinecyber3538]

People offering and tithes are being used to cover misdeeds, rome should fund them.

[@GroovyVideo2]

is Anyone surprised

[@bhobg]

Happy ex Catholic here. There is much good in the church but so much has to change

[@namanchauhan245]

churches are weird. if you believe in god then you don't have to go to a seperate building or follow some people to connect with God. Pray wherever you are and that's it..

[@xandercorp6175]

Photos of loved ones are weird. If you really loved them, you'd remember what they looked like.

[@patw.6567]

The church is greedy sadly. stop the greed

[@pijakthuum1395]

There has to be more law specifically made to protect victims from churches and other religious sect, it's disgusting

[@TheLegionofReason]

Cardinal Dolan did this in 2007, so we know this kind of thing was going on. But the scale of the asset protection is probably still larger than we know. So much for occupying the moral high ground.

[@Hunter-nr5iu]

Thanks for sharing. This is very important.

[@adhityachandraputera8338]

They follow what churches say, not what their holy book say. This is why knowledge and faith need each other

[@jordankriss2440]

I also want to point out, it's despicable what those priests did...the majority of priests and nuns are not. Most of them, day in and out, work help others, help people to find meaning in their life and work in every corner of the earth where help is needed. Are you going to trash those priests and nuns as well just because there were some pedophile in the church?

[@secondcityr7331]

At the time, some idiots who said same shit just like you wrote above, From 'SOME' become to 'MANY' And after news come to public, They never regret it and other people who should support victims is helping them to protect their image.

[@testcorecom]

They are part of a broken system they are helping to maintain. So yes. Fuck those people as well "all that is need for evil to prosper is for good men to do nothing"

[@stenbak88]

Bc the Holy See is the owner of all of it

[@gorinapkins]

Why don't they just let the priests pay?

[@MBisFrenchy]

They should be demolished and the properties sold back.

[@pietrotentor7548]

the cristian religion in general is an organization who try to take as much money possible for themself.

[@daveed467]

wait im confused..is this moral or financial?

[@Metacognition88]

Religion is wack

[@viscousgoo2021]

*It's the smart thing to do* . What most people don't realize is that this isn't the _church_ doing this. It's their legal team. And, it's a rational thing to do. Money doesn't fix the problems of the past. The reputation damage is done and no amount of money would mitigate that. Any lawyer would have done the same in any other circumstance.

[@awol_ab]

Smh

[@MrDeltaNoir]

If only these guys would stop pumping money and spreading hatred about 'heathens' in India and other developing countries. You are sowing mistrust and blind faith

[@jaxstax2406]

Trump used the same tactic lol

[@xandercorp6175]

What a hit job lol.