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Matthew Lau: Pope Francis flunks finance

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Pope Francis spent the past month praying for the increased regulation of finance

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Pope Francis spent the past month, socialists will be happy to learn, praying for the increased regulation of finance. Turning his monthly prayer intention video into something of an economics lecture, he warned that “financial markets have never been as inflated as they are now” and that “if finance is unregulated, it becomes pure speculation,” which he called “unsustainable” and “dangerous.” Governments must therefore regulate markets, as the Pope explained in a letter last month to the World Bank Group…

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