Apr 19, 2008

L.A. Times: Cardinal Mahony has put high schools in hock, wants $$ from parishes

L.A. Times columnist Tim Rutten says in today's paper (click on this post's title) that the Archdiocese of Los Angeles took out a loan of $50 million with the Allied Irish Bank to cover part of the huge clergy sex abuse settlement.

Rutten also says Cardinal Roger Mahony wrote the pastors of 101 of the archdiocese's 288 parishes in February to ask them to consider ways of helping the archdiocese with grants or loans of as much as $400,000 apiece. His Eminence gave the pastors until the end of May to decide what to do.

To get the $50 million loan, the archdiocese "put up six Catholic high school facilities as collateral -- Daniel Murphy (slated to close this June), St. Bernard, Bishop Montgomery, Bishop Amat, Damien, Bishop Conaty-Loretto and St. Bonaventure." Cardinal Mahony spokesman Tod Tamberg syas, "the archdiocese has no intention whatsoever of selling any of these high schools."

Rutten adds, "Over the past weeks, he [the Cardinal] has personally appeared at 20 regional meetings to apologize for his own role in the crisis, to urge further understanding of the victims' injury and to appeal for financial help."

5 Comments:

Blogger Joe of St. Thérèse said...

This is the problem when things aren't handled quickly, we're stuck in situations like this...(of course had he decided not to build the Cathedral, maybe this wouldn't be a problem) 195 mill-50 mill gets 145 mill which would be plenty to have remodeled St. Vibiana's...Bishop Amat happens to be by my house, hopefully they don't get rid of any of the schools.

2:07 PM  
Anonymous DAve said...

Check out digital hairshirt to see what he's asking PRIESTS to do-

He's a good shepard. Fully.

10:37 PM  
Anonymous DAve said...

http://digihairshirt.blogspot.com/2008/04/will-preach-for-food.html

...so's ya knows...

10:39 PM  
Anonymous Anonymous said...

Thanks for putting up the old Alma Mater on the block.I pass the Cathedral daily to & from work . Wonder what it would bring as collateral ?

Mike "69 class

2:16 AM  
Blogger Quintero said...

Dear Mike,

It's October 6, 2009, and I'm answering your recent comment. Thanks for checking in here, and please keep commenting.

That's a good question you ask, about what the cathedral would bring as collateral.

2:47 PM  

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