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  Lloyd Blankfein and the Potential Perils of Mixing Money and the Divine

By Brian Wingfield
Forbes
November 9, 2009

http://www.forbes.com/2009/11/09/goldman-sachs-god-business-wall-street-gods-banker.html

When Goldman Sachs boss Lloyd Blankfein told The Times of London recently that bankers are "doing God's work," the cautionary tale of another successful businessman with ties to finance, London and the Almighty came quickly to mind.

Back in the early 1980s, Roberto Calvi, head of Italy's Banco Ambrosiano, was known as "God's banker," because of his business connections to the Vatican. In 1982, the bank went belly up in the wake of a massive fraud scandal dealing with offshore accounts.

As the investigation unfolded, a complicated picture began to emerge, involving Calvi, the Holy See, a secretive Masonic lodge, the Mafia and allegations of money laundering. That June, "God's banker" vanished; his body was soon found hanging from the scaffolding beneath London's Blackfriars Bridge.

British authorities originally ruled Calvi's death a suicide, but he was exhumed in 1998 after growing suspicion that he had been murdered. In 2005, five people, including Calvi's former bodyguard, stood trial for his murder, but an Italian court acquitted them in 2007 over a lack of evidence. The case remains unsolved.

Of course, we're not in any way suggesting a connection between Blankfein or his employer to secret societies and the like. We're just noting the potential perils of mixing money and the divine.

 
 

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