Church attacks 'bank robber' traders over financial crisis
Posted
The Church of England's highest ranking clerics have fiercely criticised the practices of some financial traders that led to the market turmoil, describing them as bank robbers and out of touch with reality.
Archbishop of Canterbury Dr Rowan Williams condemned the financial industry's trading of debts, arguing paper transactions have no concrete outcome beyond profit for traders.
Dr Williams added that when such trading went badly, it caused real and crippling damage.
He has called for tighter regulation of the industry, saying it is out of touch with reality.
Archbishop of York Dr John Sentamu launched a scathing attack on the financial traders who made millions by driving down the share price of leading banks describing them as "bank robbers and asset strippers".
