Word: marcinkus
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...Illinois-born Archbishop Paul Marcinkus, once regarded as a prime candidate for Cardinal, was passed over for promotion in a reorganization of the Curia office that runs the Vatican City administration...
...omissions from the Pope's list were equally interesting. As chief administrator of the Vatican City, Archbishop Paul Marcinkus, 60, would have been an almost automatic choice. The Pope, however, is waiting for the results of a joint Vatican-Italian investigation of scandals involving the Institute for Religious Works (the Vatican bank), headed by the Chicago-born American. John Paul also passed over several leading U.S. archbishops. But with his urge to internationalize the college and his intention to keep the number of Cardinals eligible to vote for a Pope at 120, John Paul decided that several prospects must...
Says Sindona: "Our goal was to buy control in Banco Ambrosiano." Sindona says that he first introduced Calvi to Archbishop Paul Marcinkus in 1971, the year the priest became president of the Vatican bank. Sindona strongly denies that he paid Calvi and Marcinkus a $6.5 million commission as part of a business deal in the early 1970s, as has been widely reported. Says Sindona: "I did give $6.5 million to Calvi, much more than that, but that was to buy shares of Ambrosiano and other stocks. None went to Marcinkus unless Calvi gave it to him." Sindona insists that Marcinkus...
With me he never even brought up the possibility." But Sindona believed Marcinkus was "incompetent" in choosing Vatican investments. "He is a good bodyguard," quipped Sindona, "but no banker...
...Pope John Paul II look more closely into his bank's affairs? "John Paul is not a financial man," says Sindona. "The people around him were afraid of Marcinkus' power." Sindona claims that Ambrosiano paid the I.O.R. some $20 million in fees and interest in 1981 alone. Sindona was critical of his carefully chosen colleague. Calvi, says Sindona, "had no interests, only money and power. He was no good at choosing other people. If counts or barons went to him, he was immediately impressed. Calvi was known for paying a lot of money in Italy...