Regarding downsizing at the chancery office in LA.
The [Los Angeles] archdiocese opened a $200 million cathedral Sept. 2 and to-date has paid out more than $3.6 million in sex abuse settlements, but officials said neither of those circumstances had anything to do with the layoffs. They blamed the budget shortfall on the drop in the stock market.
Let me get this straight: gains on equity investments contribute substantially to the operating budget of the LA Archdiocese? Irresponsible!
