Irish nuns sue Morgan Stanley over $6.4 million bond losses

Unfortunately most Catholics think nuns are supported by the Pope or Bishops. This is not true - each community must be self supporting - they live on monies received from work they do or from donations. They must manage their money through wise investments so that they can support their elderly and train the young. In the US Sisters got such small salaries that the US Church started a fund to help them care for the elderly which is supported by an annual collection. The vow of poverty (also much misunderstood) means that all assets are held in common for the good of the mission and the members - no one member can claim that this is "mine". Resources are pooled like the early church who shared all things in common. Sounds like these Sisters needed better financial advisors!

To those of you critisizing the nuns who invested: it is not uncommon for them to take their pension money or other savings and try like the rest of us to invest and improve their lot. Also, with the decrease in vocations, they need to try to get more of a turnaround on their money so that they can keep going. Here in the States the Sisters did not even get Social Security until fairly recently. Before you cast aspersions on them, remember how for many years they did live in dire poverty-earning slave wages teaching in the Catholic School systems while the priests lived the life of Riley.

That's a lot of money. As the Bible says, we can't serve God and mammon. I never heard of the Irish Veterinary Benevolent Fund. We try to help people here with little donations for vet bills. I hope the vet fund wins. Animals, who belong to God, are always last to get any kind of help, and people struggle to help them. We are responsible to take care of them and someday we will be held accountable. God's Creatures Ministry Hebrews 4:13

This is what happens when wheeling and dealing --but can parishners sue the Nuns for misdirecting funds from needy causes which one would expect was the speel used to encourage them out of their money?

If this was the contractual agreement then you cannot or should not walk away from it.

I thought nuns took a pledge of poverty ????

these banks have no shame all these nuns were asking for was 6%. we really need to wake up and prosecute these banks and put these people in Jail where they belong

Where did the nuns get this amount of money?