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in hock, propter hoc

By Diogenes (articles ) | Apr 22, 2008

CBS News Palm Springs reports that the LA Archdiocese is putting up half a dozen high schools as security on a loan intended to pay a fraction of the buggery bill.

(AP) - The Roman Catholic Archdiocese of Los Angeles is using its school properties to help pay $660 million to alleged victims of clergy sex abuse.

Spokesman Tod Tamberg says the diocese has put up six high schools as collateral on a $50 million loan to go toward the settlement.

He says 5 of the schools are in no danger of closing because of the action.

The meaning of that last sentence, I confess, is a mystery. Perhaps the sixth school is in danger of closing because of the inaction. Please stand for the Creed.

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  • Posted by: - Apr. 23, 2008 6:38 PM ET USA

    Ex Cop: Spokesman Tod Tamberg says the diocese has put up six high schools as collateral on a $50 million loan to go toward the settlement.He says 5 of the schools are in no danger of closing because of the action. They are St. Bernard, St. Bonaventure, Bishop Amat, Bishop Conaty-Loretto and Bishop Montgomery. Put up as collateral and already announced to be closing in June is Daniel Murphy. That only leaves $610 Million to pay

  • Posted by: - Apr. 22, 2008 8:47 PM ET USA

    Perhaps this is a naive question, all right, it is a naive question but aren't the laity of the Archdiocese of LA entitled to an itemized listing of who is receiving how much, for what offense, and who the perpetrators are. Afterall, it is their $660 million dollars.

  • Posted by: - Apr. 22, 2008 7:25 PM ET USA

    I wonder if, in any way, the note to the Irish bank will be carried indirectly or even directly by the people who pay tuition at those schools. Presumably their original construction loans have been paid. I wonder if the Cardinal has indicated how he will raise the money to cover the $660 mil. homosexual debt. I remember that when our home mortgage was paid off we put our money into having the roof fixed.

  • Posted by: - Apr. 22, 2008 6:45 PM ET USA

    Look for the 5 not slated to close to do so within several years. When they are forced to close and sell them they have an "excuse" other than the one they would have used w/o the loan. Anyone know which specific high schools are now collateral?

  • Posted by: - Apr. 22, 2008 2:44 PM ET USA

    Stranger and stranger--- the lender for the loan is Allied Irish Bank. Why is that? Perhaps no California bank would take the risk. Hypothecating the assets of the church to pay this current expense is like taking a 30 year loan to buy groceries. This is a bad decision but then who is surprised. The only thing surer than the Cardinal's weak Catholicism is his bumbling incompetence (thank God for the incompetence of the modernists)

  • Posted by: - Apr. 22, 2008 9:15 AM ET USA

    diogenes, if you read the clip you'll notice his rogerness has already announced the sixth school is to be closed. where is he going to get the rest of the money?

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