Write For Us

How the Catholic Church Shielded $2 Billion to Limit Abuse Payouts

Sponsored Post Vitamin D2 Canada Persia
126 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
For most of the 20th century, the Catholic Church in the U.S. minimized the damage wrought by pedophile priests by covering up the abuse.

Cover-ups worked when victims and their families could be intimidated or shamed into silence. But in the 1980s and ’90s, victims started filing civil lawsuits against the dioceses where the alleged incidents took place. Church leaders across the country kept these suits quiet by settling out of court and demanding nondisclosure agreements in return. Church leaders paid out about $750 million from the early ’80s through 2002, according to BishopAccountability.org, a nonprofit that tracks clergy sex abuse.

Now, Dioceses of the Catholic Church are aggressively moving and reclassifying holdings to shrink the value of their bankruptcy estates.

Read Josh Saul's full story in Bloomberg Businessweek here: https://www.bloomberg.com/news/features/2020-01-08/the-catholic-church-s-strategy-to-limit-payouts-to-abuse-victims

#Storylines #BloombergBusinessweek

--------
Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1

QuickTake Originals is Bloomberg's official premium video channel. We bring you insights and analysis from business, science, and technology experts who are shaping our future. We’re home to Hello World, Giant Leap, Storylines, and the series powering CityLab, Bloomberg Businessweek, Bloomberg Green, and much more.

Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.

Visit our partner channel QuickTake News for breaking global news and insight in an instant.
Category
Business
Tags
News, bloomberg, quicktake
Sign in or sign up to post comments.
Be the first to comment