Profit ‘Not Satanic,’ Barclays Says, After Goldman Invokes Jesus
November 8th, 2009Via: Bloomberg:
Barclays Plc Chief Executive Officer John Varley stood at the wooden lectern in St. Martin-in-the- Fields on London’s Trafalgar Square last night and told the packed pews of the church that “profit is not satanic.”
The 53-year-old head of Britain’s second-biggest bank said banks are the “backbone” of the economy. Rewarding high- performing bankers with more pay doesn’t conflict with Christian values, he said. Varley was paid 1.08 million pounds ($1.77 million) and no bonus in 2008.
“Talent is highly mobile,” Varley, a Catholic, said. “If we fail to pay or are constrained from paying competitive rates then that talent will move to another employer.”
“Is Christianity and banking compatible? Yes,” he said in an interview after the speech in the 283-year-old church. “And is Christianity and fair reward compatible? Yes.”
Varley joins Goldman Sachs International adviser Brian Griffiths and Lazard International Chairman Ken Costa as London bankers who’ve gone into London churches in recent weeks and invoked Christianity to defend a banking system that critics say has created wealth and inequality in the U.K.
“The injunction of Jesus to love others as ourselves is an endorsement of self-interest,” Goldman’s Griffiths said Oct. 20, his voice echoing around the gold-mosaic walls of St. Paul’s Cathedral, whose 365-feet-high dome towers over the City, London’s financial district. “We have to tolerate the inequality as a way to achieving greater prosperity and opportunity for all.”
Would have been nice to see what the congregation had to say about this “sermon.” This is hilarious. Invoking Jesus as an endorsement of self interest. HahaHa.HAR!
Jesus had quite a few things to say about wealth. Er, isn’t there that parable about the wealthy man and the eye of the needle?
And uh, didn’t Jesus freak out when the “money changers” were in the temple, and turn the tables over in a rage?
Yes, I’m sure Mr. Griffith’s would like it very much if folks would just “tolerate the inequality,” except that I highly doubt that Mr. Griffith’s is sharing his income so there will be greater properity and opportunity for all.
Thanks Kevin, I got a good laugh from this one.
Jesus taught that we shouldn’t tolerate inequality. we should always strive to banish it. no? these guys truly know no shame. none. at all. these churches (sic) should have to explain how obscene self-justification by thieves is compatible with their particular brand of worship.
If I was a christian I’d be furious with this guy for violating my religion in this way.