|
CNBC'S MOST SHARED
- Preparing for Retirement
- Warren Buffett Tells CNBC Consumer Sales Remain "Very, Very Soft"
- WPP's Sir Martin Sorrell on the Ad Recession
- Warren Buffett's Complete Sun Valley CNBC Interview - Transcript and Video
- Software Giants Rush to Cash In on Carbon Counting
- Investing in Tech Now
- The View From Newark
- Oil Price Dragging Market Lower
- Maria's Market Message
- China Demands Currency Reform, France Backs Debate
- GM CEO Vows Leaner and Better Company To Emerge
- Social Networking's 'Naked' Truth
- Farrell: Let's Enjoy the Numbers for a Moment
- JPMorgan Asks Treasury to Auction Warrants
- Geithner Seeks Clampdown on Derivatives Dealers
- A Muscle Car to the Rescue for General Motors
- UBS Can't Comply with US Request: Internal Memo
- Recession Special: Steak for $5!
- Ameriprise Paying $17.3 Million to Settle SEC Case
- One-on-One With UFC's Dana White
- Improving Morale Vital to Success and Survival
- Global Stimulus: Boosting Water Stocks
- Warren Buffett's Top Three Investment Rules for the Average American
- Schork Oil Outlook: It’s Now or Never for the Bulls
- Social Networking's 'Naked' Truth
- Farrell: Let's Enjoy the Numbers for a Moment
- Call Of Shame - Vote Now
- Schmidt on Social Media, Ads and Hulu
Text Size 
Pope Benedict said on Monday that the global financial crisis showed that faith in God trumped a lifetime spent pursuing material wealth.
"We see it now in the collapse of the great banks that money disappears, it's nothing," the Pontiff said.
The global financial turmoil, the worst since the Great Depression, has wiped away hundreds of billions of euros (dollars) in shareholder wealth and felled banking institutions that just months ago seemed untouchable.
The pontiff, using a biblical metaphor, said people who ignored the word of God to pursue wealth had effectively built their homes on sand instead of on a solid foundation of faith.
It was a possible reference to the collapse of the U.S. housing market, which triggered the financial crisis.
"Whoever builds his life on this reality, on material things, on success ... builds (his house) on sand. Only the word of God is the foundation of all reality," he said.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes