IROs hoping for a permanent ban on short selling could soon have their prayers answered. The latest public figures to round on those evil-doers in the City hail from the Church of England.
Writing in an upcoming edition of the Spectator, Rowan Williams, the Archbishop of Canterbury, urges that short selling be banned and demands greater regulation of financial institutions, reports the BBC. He also attacks traders who buy and sell debt solely for profit.
The attack comes days after John Sentamu, the Archbishop of York, chided bankers for their role in the sale of UK mortgage lender HBOS, adds the BBC. Delivering a speech at the annual dinner of the Worshipful Company of International Bankers, Sentamu called those who profited from HBOS’ fall: ‘bank robbers and asset strippers’. Amen to that.