Hindus and Jews condemn Church of England
Although the Church of England is reportedly a hedge fund investor but, in the past, Williams reportedly said that it was right to ban short selling, while Sentamu described traders who cashed in on falling prices as 'bank robbers'.
HINDUS AND Jews have strongly criticised the Church of England over its “overnight reversal of soul” resulting in it becoming a robust defender of hedge funds and rushing to their rescue. Zed, the president of the Universal Society of Hinduism and Rabbi Freirich said that both the Archbishop of Canterbury, Dr Rowan Douglas Williams and Archbishop of York, Dr John Sentamu strongly criticised the financial system in the recent past but, now the Church which managed about £ 4.4 billion assets, had criticised European proposals to regulate hedge funds in order to increase the Church’s ability to make money. Zed and Freirich pointed out that the Church of England was a member of the Church Investors Group, an ecumenical gathering of 37 investors connected with the Churches of Britain and Ireland launched in 1973, which encouraged members to “formulate policies relating to investment that are based on Christian ethical principles” and which sought to “reflect the moral stance and teachings of our faith in our investment portfolios”. What happened to the Church’s strictly governed ethical investments policy? A conversion seems to have happened with the body's new mission being to save hedge funds instead of “transforming the world” as given on its website. Now the hedge funds, highly speculative financial products charged with inciting instability in financial markets, were claimed to be serving the Church’s compassion cause instead of being a greed source, Zed and Freirich said. Although the holy body is reportedly a hedge fund investor but, in the past, Williams reportedly said that it was right to ban short selling, while Sentamu described traders who cashed in on falling prices as “bank robbers and asset strippers”. Williams said last month that the financial sector failed to repent for the crisis. He had also asked for greater scrutiny and regulation in the sector. The duo have also stated that all the religions condemned greed and Freirich stressed the need to build a new world free from greed. “Greed is a form of pollution. Disappointment is certain if some act is done merely out of greed. Excessive greed blinds the mind,” he added. Zed quoted ancient Hindu scripture, Bhagavad Gita, which says, there are three gates to self-destructive hell—greed, anger, and desire. Abandon these three. A person freed from these three gates of darkness, seeks what is best and attains life’s highest goal. Saint Augustine (Letter 211) also said, “It is better to need less than to have more.” Alleging double standards, Zed and Freirich urged the Church of England to “walk the talk”.
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