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People in Saint Peter's Square watch a live television screen showing cardinals entering the Sistine Chapel to begin the conclave in order to elect a successor to Pope Benedict, at the Vatican March 12, 2013.
People in Saint Peter's Square watch a live television screen showing cardinals entering the Sistine Chapel to begin the conclave in order to elect a successor to Pope Benedict, at the Vatican March 12, 2013.
(GIAMPIERO SPOSITO/REUTERS)

The Vatican’s take on reforming the financial system

Banking has been a rather godless industry in the past couple of decades, its sins put on ample display after the Lehman Bros. bust in 2008. Since then, an Amazon of rescue funds has flowed into the world’s banks and public confidence in domestic and global banking systems has collapsed. Many believe that banks existed largely to enrich themselves and their executives, that they were divorced from the real economy, that their workings were opaque, and still are.