Popes And Bankers

AMIDST THE WRECKAGE OF FINANCIAL RUIN, PEOPLE ARE LEFT PUZZLING ABOUT HOW IT HAPPENED. WHERE DID ALL THE PROBLEMS BEGIN? For the answer, Jack Cashill, a journalist as shrewd as he is seasoned, looks past the headlines and deep into pages of history and comes back with the goods. From Plato to payday loans, from Aristotle to AIG, from Shakespeare to the Salomon Brothers, from the Medici to Bernie Madoff—in Popes and Bankers Jack Cashill unfurls a fascinating story of credit and debt, usury and “the sordid love of gain.” With a dizzying cast of characters, including church officials, gutter loan sharks, and even the Knights Templar, Cashill traces the creative tension between “pious restraint” and “economic ambition” through the annals of human history and illuminates both the dark corners of our past and the dusty corners of our billfolds.

Benvenuto Olivieri was a Florentine banker active in Rome during the first half of the sixteenth century. A self made man without any great family patrimony, he rose to prominence during the pontificate of Pope Paul III, becoming involved with a variety of papal enterprises which allowed him to get to the heart of the mechanisms governing the papal finances. Amassing a considerable fortune along the way, Olivieri soon built himself a role as co-ordinator of the appalti (revenue farms) and became one of the most powerful players in the complex network that connected bankers and the papal revenue. This book explores the indissoluble link that had developed between the papacy and bankers, illuminating how the Apostolic Chamber, increasingly in need of money, could not meet its debts, without farming out the rights to future income. Utilising documents from a rich corpus of unpublished sources in Florence and Rome, Guidi Bruscoli unravels the web of financial connections that bound together Florentine and Genoese bankers with the papacy, and looks at how money was raised and the appalti managed.

New York Times Bestseller: A “deeply researched” exposé of the money and the clerics-turned-financiers at the heart of the Vatican (Chicago Tribune). From a master chronicler of legal and financial misconduct, a magnificent investigation nine years in the making, God’s Bankers traces the political intrigue of the Catholic Church in “a meticulous work that cracks wide open the Vatican’s legendary, enabling secrecy” (Kirkus Reviews). Decidedly not about faith, belief in God, or religious doctrine, this book is about the church’s accumulation of wealth and its byzantine financial entanglements across the world. Telling the story through two hundred years of prelates, bishops, cardinals, and the popes who oversee it all, Gerald Posner uncovers an eyebrow-raising account of money and power in one of the world’s most influential organizations. God’s Bankers is a revelatory and astounding saga marked by poisoned business titans, murdered prosecutors, and mysterious deaths written off as suicides; a carnival of characters from popes and cardinals to financiers and mobsters to kings and prime ministers; and a set of moral and political circumstances that not only clarify the church’s aims and ambitions, but reflect the larger tensions of more recent history. Posner also assesses Pope Francis’s potential to overcome the resistance to change in the Vatican’s Machiavellian inner court and rein in the excesses of its seemingly uncontrollable financial quagmire. “As exciting as a mystery thriller” (Providence Journal), this book reveals with extraordinary precision how the Vatican has evolved from a foundation of faith to a corporation of extreme wealth and power. “Reads like a sprawling novel, full of complex characters and surprising twists. . . . Readers interested in issues involving religion and international finance will find Posner’s work a compelling read.” —Library Journal “An extraordinarily intricate tale of intrigue, corruption and organized criminality. . . . Posner’s gifts as a reporter and storyteller are most vividly displayed in a series of lurid chapters on the American archbishop Paul Marcinkus, the arch-Machiavellian who ran the Vatican Bank from 1971-1989.” —The New York Times Book Review

This is a story of how men worked, intrigued, and made business deals in an Italy invaded by continental countries and England. It brings together diplomacy, war, business, and politics, juxtaposing differing institutional structures and political ways among Italy's city states, and bringing into focus the new men of the Renaissance.

Look out for a new book from Garry Wills, What The Qur'an Meant, coming fall 2017. "The truth, we are told, will make us free. It is time to free Catholics, lay as well as clerical, from the structures of deceit that are our subtle modern form of papal sin. Paler, subtler, less dramatic than the sins castigated by Orcagna or Dante, these are the quiet sins of intellectual betrayal." --from the Introduction From Pulitzer Prize-winning author Garry Wills comes an assured, acutely insightful--and occasionally stinging--critique of the Catholic Church and its hierarchy from the nineteenth century to the present. Papal Sin in the past was blatant, as Catholics themselves realized when they painted popes roasting in hell on their own church walls. Surely, the great abuses of the past--the nepotism, murders, and wars of conquest--no longer prevail; yet, the sin of the modern papacy, as revealed by Garry Wills in his penetrating new book, is every bit as real, though less obvious than the old sins. Wills describes a papacy that seems steadfastly unwilling to face the truth about itself, its past, and its relations with others. The refusal of the authorities of the Church to be honest about its teachings has needlessly exacerbated original mistakes. Even when the Vatican has tried to tell the truth--e.g., about Catholics and the Holocaust--it has ended up resorting to historical distortions and evasions. The same is true when the papacy has attempted to deal with its record of discrimination against women, or with its unbelievable assertion that "natural law" dictates its sexual code. Though the blithe disregard of some Catholics for papal directives has occasionally been attributed to mere hedonism or willfulness, it actually reflects a failure, after long trying on their part, to find a credible level of honesty in the official positions adopted by modern popes. On many issues outside the realm of revealed doctrine, the papacy has made itself unbelievable even to the well-disposed laity. The resulting distrust is in fact a neglected reason for the shortage of priests. Entirely aside from the public uproar over celibacy, potential clergy have proven unwilling to put themselves in a position that supports dishonest teachings. Wills traces the rise of the papacy's stubborn resistance to the truth, beginning with the challenges posed in the nineteenth century by science, democracy, scriptural scholarship, and rigorous history. The legacy of that resistance, despite the brief flare of John XXIII's papacy and some good initiatives in the 1960s by the Second Vatican Council (later baffled), is still strong in the Vatican. Finally Wills reminds the reader of the positive potential of the Church by turning to some great truth tellers of the Catholic tradition--St. Augustine, John Henry Newman, John Acton, and John XXIII. In them, Wills shows that the righteous path can still be taken, if only the Vatican will muster the courage to speak even embarrassing truths in the name of Truth itself.

From a bestselling author with unprecedented access to Pope Francis, an investigative look at the recent financial scandals at the highest levels of the Vatican A veritable war is waging in the Church: on one side, there is Pope Francis’s strong message for one church of the poor and all; on the other, there is the old Curia with its endless enemies, and the old and new lobbies struggling to preserve their not-so-Christian privileges. The old guard do not back down, they are ready to use all means necessary to stay in control and continue the immoral way they conduct their business. They resist reforms sought by Pope Francis and seek to delegitimize their opponents, to isolate those who want to eliminate corruption. It’s a war that will determine the future of the church. And if he loses the battle against secular interests and blackmail, Pope Francis could resign, much like his predecessor. Based on confidential information—including top secret documents from inside the Vatican, and actual transcripts of Pope Francis’s admonishments to the papal court about the lack of financial oversight and responsibility—Merchants in the Temple illustrates all the undercover work conducted by the Pope since his election and shows the reader who his real enemies are. It reveals the instruments Francis is using to reform the Vatican and rid it, once and for all, of the overwhelming corruption traditionally encrusted in the Roman Catholic Church. Merchants in the Temple is a startling book that will shock every reader. It’s a story worthy of a Dan Brown novel, with its electrifying details of the trickery and scheming against the papacy—except that it is real.

A deeply reported, fast-paced exposé of the money and the cardinals-turned-financiers at the heart of the Vatican.

Throughout the thirteenth century Western European monarchs were hampered by the failure of their traditional revenues to meet their new expenses. Edward I of England solved the primary problem of acquiring adequate funds with the imposition of a duty on wool and leather and by more frequent direct taxes. But collection was slow and irregular; there still remained the problem of liquidity. To ensure a steady flow of cash to meet his military, administrative, and diplomatic needs Edward developed a special relationship with a company of Italian merchant-bankers, the Societas Riccardorum de Luka. Richard W. Kaeuper analyzes this relationship to provide valuable information on the financial needs of the king's government and its daily routine at a critical stage in its development. Equally interesting is the examination of the operations of the Italian banking houses that were becoming prominent in the economic life of northwestern Europe and were to become famous in the fourteenth century. Originally published in 1973. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.