Let’s stop drawing out the pain. The St. Paul-Minneapolis Catholic archdiocese filed for bankruptcy today. Look at the numbers:
The filing estimates that the archdiocese — the largest in the state with more than 800,000 parishioners — has assets between $10 million and $50 million, with liabilities between $50 million and $100 million. It also estimated 200 to 300 creditors.
If Catholicism were a business, I wouldn’t recommend investing in it. I’d recommend breaking it up and selling it for scrap. But of course, that’s not what’s going to happen — they’re filing for bankruptcy as an effort to claw their way up out of the abattoir drain.
The archdiocese is the 12th U.S. diocese to seek bankruptcy protection in the face of sex abuse claims. Church leaders have said for months that bankruptcy was an option, as the archdiocese faces numerous lawsuits by victims of clergy sex abuse. The lawsuits will be put on hold while the bankruptcy case is pending.
All those lawsuits for criminal abuse of children…put on hold. Maybe it’s not such a good thing.