A group of nuns from Ireland are suing Morgan Stanley, alleging improper actions by the investment bank that led them to lose at least 5 million euros ($6.4 million), about 80 percent of their total investment, a filing by Stuarts Law showed.
Pope Benedict XVI called Tuesday for a new world financial order guided by ethics, dignity and the search for the common good in the third encyclical of his pontificate.
Pope Benedict said on Monday that the global financial crisis showed that faith in God trumped a lifetime spent pursuing material wealth.