The Real Recovery | November 10, 2009 | 7 comments

Is paying out Big Bonuses the “Christian” thing to do?

source: http://3blmedia.com/theCSRfeed/Profoundly-Moral-Issue#

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[This in my opinion is a really interesting article to read, share, and debate over.]

If you happened to be present in the Anglican Church on London’s Trafalgar Square a few nights ago, you might believe it to be so.

Barclay’s Catholic CEO, John Varley, addressed a captive church audience, “If we fail to pay or are constrained from paying competitive rates then that talent will move to another employer.” Nothing is odd about that statement coming from a banking executive except that Varley was justifying bonuses on purely Christian principles.

In Varley’s view “Christianity and capitalism are compatible” because, “The injunction of Jesus to love others as ourselves is an endorsement of self-interest.”

Okay. Is he seriously tying Self-Interest to the Golden Rule? I wonder if Mr. Varley would have liked his 85 year-old mother to be tricked into a 30 year adjustable mortgage? I can’t be certain, but I don’t think predatory loans were what Jesus had in mind.

Varley’s speech is part of a concerted effort by London’s Christian Association of Business Executives to quell the growing rage against bankers. Also making the church rounds were Goldman Sachs’ International adviser Brian Griffiths and Lazard International Chairman Ken Costa.

Following a lecture at St. Paul’s Cathedral, a member of the congregation said, “People are very, very angry at the gross iniquity of rewards in society.” Griffiths responded with, “We have to tolerate the inequality as a way to achieving greater prosperity and opportunity for all.” He really said that? It’s kind of like the modern equivalent of “Let them eat cake.”

http://3blmedia.com/theCSRfeed/Profoundly-Moral-Issue#
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7 comments // Is paying out Big Bonuses the “Christian” thing to do?

  • JeremyTG77
  • Karolein
    • 0
      Karolein  

    • Varley sounds like he's been attending a Prosperity Gospel church. I don't remember Jesus handing out bonuses to his disciples.

    • 2 years ago
  • JeremyTG77
  • tangibleparadox
  • DramaQT
    • 0
      DramaQT  

    • Aren't these some of the same companies that begged for mercy as they snatched up corporate bail out money in America (courtesy of Bush Adminstration)? The very same Corps that coughed up millions to "Bernie Madoff & Company and then turned right back around to ask for some..."more"....bail out cash!! ...Capitalism does not go hand in hand with Christianity unless you refer to the more babaric years during the holy wars....These corporate heads must think they are some kind of rock stars or something. I fault the church for allowing these corporate kinds to address their parishoners this way. I guess the church can be bought out too! As I'm sure these folks made a donation to the church. I am disgusted...

    • 2 years ago
  • JeremyTG77
  • bt423
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