On finance, can the Vatican still do better?

Over the past decade, various Vatican offices have produced several documents addressing the vexed topic of finance and banking. Given the turmoil and scandals characterizing the world’s financial sectors over the past two decades, such interventions are to be expected, even...
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The Catholic church becomes an impact investor

“YOU cannot serve both God and money,” admonishes the Bible. But the church has always tried. In the Middle Ages monasteries were what would now be termed social enterprises. They would produce bread, books or other goods. A Franciscan monk is credited with codifying double-entry...
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Jamie Dimon thinks America’s ‘secret sauce’ is at risk

Like Warren Buffett, JPMorgan (JPM) CEO Jamie Dimon thinks the U.S. economy has the “secret sauce.” To Dimon, however, the public’s current view of what businesses and the corporate world are all about risks taking this away from the U.S. economy. Because to Dimon,...
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Paul Tudor Jones: Do we need to rethink capitalism?

Paul Tudor Jones II loves capitalism. It’s a system that has done him very well over the last few decades. Nonetheless, the hedge fund manager and philanthropist is concerned that a laser focus on profits is, as he puts it, “threatening the very underpinnings of...
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Pope Francis Praises Free Enterprise: a ‘Noble Vocation, Directed to Producing Wealth’

Pope Francis praised the free market and the role of businesses in the creation of wealth and in the promotion of the common good in an address before 7,000 businesspeople Saturday. Although Pope Francis is often portrayed as anti-capitalist, he keeps his critics guessing with...
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New ‘Speed Bump’ Planned for U.S. Stock Market

Cboe Global Markets Inc. is seeking to introduce a brief delay on one of its markets, becoming the latest U.S. stock-exchange group to attempt to hit the brakes on high-frequency traders, people familiar with the situation said. The plan shows how “speed bumps” have proliferated...
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Does America have an income inequality problem or an opportunity problem?

Should the fight against inequality be the Democrats’ defining cause? The party’s rising tribe of left-wing economic populists — headed up by Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) — would answer with a resounding “yes.” But another...
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The Implications of Banning Share Buybacks

American corporations are simply raking in profits. Some are so bloated and cash-rich they literally can’t figure out what to do with it all. Apple, for instance, is sitting on nearly a quarter of a trillion dollars — and that’s down a bit from earlier this year....
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WSJ: Should we repeal the debt limit?

Over the past eight years, high-stakes negotiations in Congress over the federal debt limit have repeatedly brought Washington to the verge of default. We were on opposite sides of these debates, as senior policy advisers to President Obama and Senate Republican Leader Mitch...
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The Speech That Transformed European Markets—Five Years Later

Five years ago, European Central Bank chief Mario Draghi took the stage in London to give the speech that ushered in the beginning of the end of the continent’s sovereign-debt crisis. Several features of the financial panic that had characterized the previous two years began to...
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