Good news for hedge fund managers: A prominent British clergyman avowed that it's now easier for a rich man to enter heaven than for a camel to pass through the eye of a needle. All that's required is a change of heart.
By way of proof that hedge funds have entered the fabric and now perhaps the soul of modern society, Michael Nazir-Ali, the Anglican bishop of Rochester, England, zeroed in on hedge fund managers in his annual Easter message, published by The Sunday Times on March 23.
The bishop wrote: Is there any good news for the rich? The answer is: yes. What is required is a change of heart, of disposition, of attitude. ... When that happens, hedge fund managers and directors of companies, can, indeed, go into the kingdom of heaven ahead of the chief priests and elders.
No stranger to controversy, the bishop argued that the rich must provide justice for those who work for them and that current turmoil in the markets is almost certainly the result of (amoral) forces. Those with power need to ensure that the poor are not disproportionately affected.
The Pakistani-born bishop received death threats in the U.K. earlier this year over his written comments about how the insular nature of certain British Islamic communities made them no-go areas too dangerous for non-Muslims to pass through.
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