Mr [Ken] Costa, the chairman of the St Paul’s Initiative, established by the Church to open up a debate on ethical capitalism, said the clergy’s response to the ongoing protests outside St Paul’s Cathedral must not turn into a “reheated Faith in the City”.
In his first public comments since his appointment, Mr Costa insisted that a flourishing banking sector was “essential to any successful economy” and that financial incentives are “both valid and effective”.
He also said that stiffer regulation of financial services was not necessarily the solution to the global economic crisis, saying, “you cannot regulate into existence a culture of honesty, integrity, truthfulness and responsibility”.
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(Telegraph) Church of England 'must curb its attacks on the City'
Mr [Ken] Costa, the chairman of the St Paul’s Initiative, established by the Church to open up a debate on ethical capitalism, said the clergy’s response to the ongoing protests outside St Paul’s Cathedral must not turn into a “reheated Faith in the City”.
In his first public comments since his appointment, Mr Costa insisted that a flourishing banking sector was “essential to any successful economy” and that financial incentives are “both valid and effective”.
He also said that stiffer regulation of financial services was not necessarily the solution to the global economic crisis, saying, “you cannot regulate into existence a culture of honesty, integrity, truthfulness and responsibility”.
Read it all.