It could take an up’ to the scale of changes it needs to make, the leader of the Roman Catholic Church in England and Wales warned last Sunday. The Archbishop of Westminster, the Most Rev Vincent Nichols, likened profit-obsessed business chiefs to staff at the scandal-hit Mid Staffordshire hospitals trust who lost sight of basic morality because of an obsession with money. He will told an audience in the City that new regulations would not be enough to bring about real change in the wake of the banking crisis, and could itself become simply a ‘lazy proxy’ for moral values. He said working in the City is a noble vocation, capable of doing real good for society but that the pursuit of short term profit has been allowed to become the sole purpose of business, creating a moral vacuum.
Pray: for the financial sector in the City to develop a greater sense of morality and a clearer purpose to serve society. (Lk.12:15)