L.A. Times issues correction to its recent story about archdiocesan loans

Here is a correction from the L.A. Times:

"For the record, April 26, 2008
Archdiocese:
An April 19 column by Tim Rutten said the Archdiocese of Los Angeles took out a $50-million bank loan to fund a global settlement of clerical abuse cases. In fact, the archdiocese borrowed $175 million. As noted in the column, the total liability in all such cases is $720 million, but the column failed to note that a substantial portion of that is covered by insurance."