It must make a nice change for #Vatican watchers to have a different kind of scandal. President Ettore Gotti Tedeschi and director-general Paolo Cipriani of the Vatican Institute for Religious Works (IOR) - basically the Vatican bank - are under investigation by Rome magistrates Nello Rossi and Stefano Fava for suspected money laundering [Reuters 21 September 2010].
A Vatican statement has expressed “perplexity and amazement” at the move and “utmost faith” (“massima fiducia”) in the two men who head the bank.
Given that the Catholic Church is in the faith business, I assume they have thought pretty carefully about the theological implications of that statement.
Update: Mr Tedeschi has now been removed from his post for "dereliction of duty" [BBC News 24 May 2012]. Dr Jeff Mirus speculates that Tedeschi’s frequent comments on world economic
affairs may have rubbed many others in the Vatican the wrong way, perhaps
particularly those at the Pontifical Council for Justice and Peace [City Gates, 25 May 2012].
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