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Vatican vs. Wall Street

Francis X. Rocca

“Managers who won’t give up their bonuses,” reads a front-page headline in tomorrow’s edition of the official Vatican newspaper L’Osservatore Romano. The article reports that Citigroup is laying off 52,000 employees while still paying their executives year-end bonuses-in contrast to Goldman Sachs and UBS, where top executives have chosen to go without. No prizes for guessing what the paper thinks is the right choice.

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