Friday, March 27, 2009

Mexican Banks slated by Church:Banks Blamed with pushing forward the recession

(Social Justice South Africa; c.f. AP (Secular; American; Independent) 26 / 03 / 2009; Reuters (Secular; Independent; British) 26 / 03 / 2009; Bloomberg (American; Independent; Secular) 26 / 03 / 2009)

Article by Marc Aupiais

Mexico: is expected to take a stance against high interest rates on credit cards: used by Mexican banks:

Reporting on the possibility that Mexico will create a forced cut-off point of 33% interest on credit card purchases: the AP: has noted that the Catholic church, is among those apposing high rates in Mexico: gained by banks over credit cards: the quotation came from December, several month ago:

AP quotes the: Archdiocese of México, which is currently under the care of: Cardianl: Norberto Rivera Carrera:


""Banks are acting with irresponsible voracity, demanding extremely high interest rates which in the end, people won't be able to pay," the Catholic Archdiocese of Mexico said in December. Banks' "insatiable greed" is speeding an economic crisis that may spark social unrest, the Church warned."
(AP (Secular; American; Independent) 26 / 03 / 2009)

The Catholic understanding of the biblical ban on "Usury": is thought in modern times: to refer not to banking as it was once seen to refer to: in a time where all banking could have been seen as Usurious, but rather to unfairly extravagant interest rates.

The measures have already passed through two senate committees: and voting there suggests that they are likely to pass into Mexican law, when the full senate votes on them. The "Credit Crunch"/"Financial Crisis"/ Recent "Recession", has particularly hit many developing countries.










Have comments on our articles, join our online social networks:

at Catholic Answer Forums' : Catholic Social networking

South African Catholic News Service (group)

Or Join us on Facebook

South African Catholic News Service

Otherwise, please rate our articles, and feel free to leave appropriate, legally wise, and compliant and cordial comments, and appropriate, legally compliant, and cordial emails (marcaup@gmail.com (Not necessarily the Author of this article) ; email our editorial staff)!

Or Subscribe to our articles via email:

Subscribe to South African Catholic

We also have a site on twitter:

http://twitter.com/sacns

And one on YouTube

http://www.youtube.com/user/SACATHOLICNEWSSERVIC

This service is brought to you by the Scripturelink Search Engine



Check our contents via the search engine: against other Catholic services

Add your email to our system to: subscribe to: "South African Catholic News Service"'s dispatches: via email



Email:


View Archives

No comments:

Post a Comment

No spam, junk, hate-speech, or anti-religion stuff, thank you. Also no libel, or defamation of character. Keep it clean, keep it honest. No trolling. Keep to the point. We look forward to your comments!

Popular Posts - This Week

Popular Posts This Month

Popular Posts | All TIme