BishopAccountability.org
	LA Archdiocese Puts 6 Schools up As Loan Collateral Associated Press, carried in CBS 2 April 22, 2008 http://www.deserttelevision.com/Global/story.asp?S=8206526 LOS ANGELES - The Roman Catholic Archdiocese of Los Angeles is using its school properties to help pay $660 million to alleged victims of clergy sex abuse. Spokesman Tod Tamberg says the diocese has put up six high schools as collateral on a $50 million loan to go toward the settlement. He says 5 of the schools are in no danger of closing because of the action. They are St. Bernard, St. Bonaventure, Bishop Amat, Bishop Conaty-Loretto and Bishop Montgomery. Put up as collateral and already announced to be closing in June is Daniel Murphy. Tamberg says the six schools were picked so that they together would provide sufficient collateral for the Allied Irish Bank loan. A judge in July 2007 approved the diocese's $660 million settlement with hundreds of alleged victims of clergy abuse.
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