The Church of England is going to crush the Payday Loans industry, well not quite.
Hi Holiness the Archbishop of Canterbury, Justin Welby says the church will “compete” with Wonga. It has the infrastructure and cash to invoke a mighty credit union to lend money to the needy.
One snag though, the Church of England already invests in Wonga, according the the FT.com
The Church of England’s pension fund invests in one of Wonga’s key financial backers, in a hugely embarrassing revelation for the Archbishop of Canterbury who has described the payday lender as “morally wrong”
If you want to have a play with some tasty Newsjacked content poking a bit of fun at the Church of England’s investment strategy, now is the time.
You may have God on your side because I have heard that he hates hypocrites.
This is now the top news on the BBC