A week ago, the Milwaukee Journal Sentinel published an article, informing their readers about the incoming Milwaukee Archbishop Jerome Listecki's land dealings with a friend who had defrauded the Archdiocese of Chicago while Listecki was a priest in Chicago. The article seemed more concerned about his relationship with the thief, who Listecki believes was wrongly accused. My greater concern as a Catholic reading the article was why a Chicago priest and now bishop is involved in land speculation. It is this sort of land speculation that is partly responsible for the current economic crisis.
In addition, a priest is taken care of for life with a suitable salary, health care, and all the rest. Why is a priest involved in this activity? The article also mentioned that Portland Archbishop John Vlazny was involved with Listecki in land speculation. Why are bishops involved in land speculation? They are even better taken care of than priests... just ask Cardinal Law. The other half of the equation... if we assume that priests do not make enough to support themselves, why are they still involved with these economic dealings after they become bishops, as the article indicates is the case?
This whole scenario also begs the question, can the bishops involved in such dealings be moral authorities for the economic sphere? How many more bishops are involved in this type of activity that we are not aware of because no fraud was involved. I find these dealings very troubling and do not think that bishops should be involved in profiteering.
A Faithful Catholic
14 comments:
I actually know a few priests who own property privately. Like Bishop Listecki, a few of them owned a condo which they used to get away on their vacation days since the rectory is still close to work.
The article does highlight the problem that we ALL have in seeing the faults in our friends. The same could certainly be said of Milwaukee's old archbishop, Archbishop Weakland.
As for priests' salaries, they are not significant, so I can understand attempts to supplement that income. I don't think Bishop's make more significant incomes than priests, but I could be wrong. The Real Estate Game beginning in the 1980s was "easy" money; it just neglected the inherent bubble that was created that popped in 2008 with the collapse of Freddie and Fannie. But, does that mean members of the clergy should be denied the ability to purchase property and then flip it for a profit? That is not profiteering.
All that being said, I agree that Bishops (really all clergy) need to be careful about who they befriend and what their friends are doing because it can negatively impact their ability to speak with moral clarity.
"Land Speculation"?
So when you play nickel-ante poker, is it "Card-Sharking"?
There are plenty of very honest people who buy land with the prospect of selling it when it increases in value.
In another venue, this is called "investing." Perhaps you know some EEEEEEEEEEEEEEEEEvil "Stock Speculators"?--you know, like your mom who has a 401(k) which holds stocks, or your neighbor who bought BGG because he thinks it has value for the long-term?
Or how about most people you know who purchased a home with the idea that its value will rise over time so they can sell it as a retirement-funding vehicle?
All vaguely eeeeeeeevil people, no?
Be serious.
I thought priests were devoted totaaaaaaaaaaly to God's business, not to money making schemes!!!So, I guess,they're just like anyone else and NOT superior to the rest of us, as the Church claims. Is B16 in a Vatican investment club?
I agree with CatholicSoldier on this. I cannot comment on the particular story, but take issue with the implication that priests have no business owning property, and the statement that "a priest is taken care of for life." Diocesan priests are not "taken care of for life." They earn a salary and benefits to support themselves. (This is different from priests in religious orders who take a vow of poverty, own things in common, etc.) Amounts and arrangements vary from one dicoese to another. But priests purchase and own things like anyone else. They may invest, plan for their retirement, sometimes help support family members. So we should not think it wrong or suspect that a priest owns property, whether for retirement, as a home, or as an investment.
So priests have time to devote to playing the markets, but a wife would draw them from their holy duties? If you go to confession do you get stock tips. Well, why not.
At what point was celibacy even brought into the discussion? Why cannot a member of the Clergy play the market in his free time with his own money? Certainly they need to be careful, but where in Canon Law is the practice prohibited (investment)?
As for Stock Tips in Confession, I don't think that's really relevant to the Sacrament.
CS, you've ruined my new year! I thought priests had little spare time and when they did went primarily to prayer. But I see now they work on their portfolios.
Priests are not "taken care of for life." And, in most places, both priests and bishops must supply 100% of their own retirement. Thus, many priests who own condos are also doing so as a retirement investment. In fact, it would be irresponsible for a priest or bishop NOT to invest and look for ways to grow his money, just like you, and me, and everyone else.
Anon - he invested! What planet are you on in that you think it takes time away from prayer, ministry, etc.? Everyone invests. I don't understand where you are coming from.
Hey,"investment priests!!!!"???
I thought priest were to devote themselves to God, not checking out investments.
Anon,
You are beginning to sound like a tape recorder. Where in canon law does it say a priest cannot make an investment? Just because a priest devotes himself to the service of the Church, it doesn't mean he doesn't have any time for personal pursuits.
Your blog keeps getting better and better! Your older articles are not as good as newer ones you have a lot more creativity and originality now keep it up!
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