Blog Template Theology of the Body: Merrill Lynch freezes Episcopal diocese's assets

Thursday, June 05, 2008

Merrill Lynch freezes Episcopal diocese's assets

According to the Episcopal News Service, Merrill Lynch has frozen the assets of a diocese in California. This is part of the ongoing dispute between the former bishop and the local diocese over his attempt to align himself with some bishops in the Southern Cone. The most surprising thing in the article?
"After a Title IV Review Committee determined he had "abandoned the communion" of TEC and the House of Bishops gave its consent to his deposition, Presiding Bishop Katharine Jefferts Schori deposed him and removed him from the episcopate on March 12."

I didn't know it was actually possible for an Episcopal bishop to be disciplined, much less deposed. I guess anything goes, unless it involves property.