Most Excellent Bishop
Having received your letter of September 13 of this year, regarding the matter of the removal from all priestly burdens pertaining to Rev Stephen Miller Kiesle in your diocese, it is my duty to share with you the following:
This court, although it regards the arguments presented in favour of removal in this case to be of grave significance, nevertheless deems it necessary to consider the good of the Universal Church together with that of the petitioner, and it is also unable to make light of the detriment that granting the dispensation can provoke with the community of Christ’s faithful, particularly regarding the young age of the petitioner.
It is necessary for this Congregation to submit incidents of this sort to very careful consideration, which necessitates a longer period of time.
In the meantime your Excellency must not fail to provide the petitioner with as much paternal care as possible and in addition to explain to same the rationale of this court, which is accustomed to proceed keeping the common good especially before its eyes.
Let me take this occasion to convey sentiments of the highest regard always to you.
Your most Reverend Excellency
Joseph Cardinal Ratzinger
Ex-Lehman Brothers Holdings Inc. Chief Executive Officer Richard Fuld, other former executives of the bankrupt firm and its auditor were sued by a California nonprofit over their use of so-called Repo 105 transactions.
The former Lehman executives used the transactions to create “a materially misleading picture of the firm’s financial condition in late 2007 to 2008,” the Retirement Housing Foundation said yesterday in a complaint filed in state court in Los Angeles. The group said it lost more than $1 million on its investment in Lehman bonds as a result of misleading reporting.
The lawsuit may be the first based on Lehman’s use of the off-balance-sheet transactions after a report last month by a bankruptcy examiner that said Fuld was “at least grossly negligent” for letting Lehman file financial reports in which a key gauge of strength was “reverse-engineered.”
The banks are still doing this.
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