Welby and Wonga

Discussion in 'News and Current Affairs' started by PeteXXX, 15 Sep 2018.

  1. PeteXXX

    PeteXXX Cake or ice cream? The choice is endless ...

    Justin Welby, after spouting forth on the evil of Amazon etc., is being defended on the grounds that it’s better to be a shareholder in Amazon & Wonga, thus, on the inside, the easier to change things for the better.
    Not to make money then, obviously.
    matiz and Salty seadog like this.
  2. Diogenes

    Diogenes Opinions, schminions

    The church didn't amass a wealth of £5,900,000,000 by accident.
  3. Slick

    Slick Veteran

    Pathetic isn't it. Shows them up for their true selves and in my mind totally explains why so many people are turning their back on them.
  4. Phaeton

    Phaeton Guru

    Oop North (ish)
    Not defending the church but would Welby know where all the funds were invested, is it not just a home goal, poor communication that either he wasn't informed they invest there or the investment team weren't informed not to invest there.
  5. Salty seadog

    Salty seadog Space Cadet...(3rd Class...)

    Their investments are not in tune with their values. bit odd that or just another PLC.
  6. Phaeton

    Phaeton Guru

    Oop North (ish)
    I agree but what have they told their investment (w)bankers, who controls the funds they invest in
  7. Salty seadog

    Salty seadog Space Cadet...(3rd Class...)

    if they have not built in ethics to their investment stratergy then there is an undisbuted double standard.
    matiz, Eddy and SpokeyDokey like this.
  8. Diogenes

    Diogenes Opinions, schminions

  9. SpokeyDokey

    SpokeyDokey 20% through Decade 7. Yikes! Moderator

    I found this amusing:

    FiveLeavesLeft, Unkraut and Diogenes like this.
  10. Unkraut

    Unkraut Master of the Inane Comment

    SD - there is some good wit in the comments around the Amazing Grace theme:

    Amazon grace, how sweet the sound,
    Of my hypocrisy
    I’d sell my soul to make a pound,
    Don’t tell the TUC.

    When we have shares, ten thousand more
    Than any other one,
    I've no more ways to clear my haze
    Than when I'd first begun.
    SpokeyDokey likes this.
  11. Milkfloat

    Milkfloat Veteran

    Welby knew 5 years ago about the Wonga investments. https://www.telegraph.co.uk/news/re...h-can-invest-in-pornography-and-gambling.html

    The church has had plenty of investment controversory over the years, including dodgy open cast mining in a variety of countries. They have had more than enough time to be ethical and not appear to be quite so hypocritical.
    Phaeton and SpokeyDokey like this.
  12. tom73

    tom73 Über Member

    Well nothing changer's they never have had ethical investment's after all they made a mint from the salve and sugar trade. I find it rich that he's going on about other's needing to pay tax when his own organisation is not content with being a charity is more than willing to take all the other ever growing list of tax freebie that government's can't help but hand them.

    As for not knowing he can't but not he head's up the bishop's council that approve's and inform's what the church commissioner's invest in. As the state religion it can be said that a state body is actively promoting companie's that use all known tax law to avoid paying any to the state of which they are part.

    Time we ended formal state church and bought them into line with all the law's they currently are free to forget. I still find it odd that as a vicar your legally not employed by them as an example.
    Diogenes likes this.
  13. stowie

    stowie Guru

    Not the greatest fan of Welby (or really the CofE) and I am pretty sure hypocrisy abounds in the organisation.

    However, am I the only one finding it a touch convenient that Welby is under fire for hypocrisy after his TUC speech criticising not only the gig economy but universal credit?

    This is a classic diversionary tactic - no-one is now talking about what he said on these things, rather whether the church is acting hypocritically.
    Unkraut, User13710 and C R like this.
  14. Unkraut

    Unkraut Master of the Inane Comment

    The C of E may or may not be acting hypocritically on this, but anyone criticising it on this basis who orders half of what is in his house via Amazon is not in much of a position to say anthing!

    It is not easy either to invest or purchase ethically. I doubt if any companies you would care to invest in are all pure as the driven snow. The best you can do is to try to avoid the worst examples. This certainly is possible.
  15. tom73

    tom73 Über Member

    Not sure about that cooperative bank have had 100 % ethical investments for well over 20 years. Any fund of such a size as the C of E is more than able to find 100% ethical investments. I suspect that as they take a bit more management to get maximum returns the big flashing £££ have been more of a guiding force.
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