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Trading Short-selling’ church leaders accused of failing to practise what they preach

Discussion in 'Shares' started by Tropo, 26th Sep, 2008.

  1. Tropo

    Tropo Well-Known Member

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    Short-selling’ church leaders accused of failing to practise what they preach

    The Church of England was accused last night of having used short-selling to maximise profit on a £5 billion investment hours after its archbishops criticised banking practices.
    After the call from the archbishops of Canterbury and York for tighter regulation of the markets, the liberal think-tank Ekklesia said that the Church was implicated in stock market speculation.
    It said that in 2006 the Church Commissioners, which manages the Church of England’s investments, set up a currency hedging programme against a fall in the value of sterling, effectively short-selling the pound to guard against rises in other currencies.
    It also criticised the Church for its shareholdings in oil and mining companies.
    more ....Short-selling’ church leaders accused of failing to practise what they preach -Times Online

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