Comments on: Pray for Father Geoff Farrow http://catechismoncall.wordpress.com/2009/06/19/pray-for-father-geoff-farrow/ Learn What the Catholic Church Really Teaches Mon, 07 Dec 2009 01:37:19 +0000 http://wordpress.com/ hourly 1 By: Pax http://catechismoncall.wordpress.com/2009/06/19/pray-for-father-geoff-farrow/#comment-464 Pax Mon, 03 Aug 2009 04:27:28 +0000 http://catechismoncall.wordpress.com/?p=1323#comment-464 Yes we should all pray for this troubled priest. Yes we should all pray for this troubled priest.

]]> By: Didymus http://catechismoncall.wordpress.com/2009/06/19/pray-for-father-geoff-farrow/#comment-407 Didymus Thu, 09 Jul 2009 13:59:52 +0000 http://catechismoncall.wordpress.com/?p=1323#comment-407 In the interests of accuracy, Fr. Geoff did not, himself, encourage non-repayment of loans against KofC Policies. It appears he was mis-quoted on CNA.com The relevant section of his blog (currently) reads as follows. I imagine it is possible it has been edited since the original quote, but it's not likely. "1) Borrow the full amount against your Knights of Columbus life insurance policy immediately. Take the check and invest the funds with an LGBT friendly fund. If every priest and K of C insurance policy holder were to do this, it would create a considerable capital drain on K of C and cripple their ability to write large checks to thwart LGBT legislation and ballot initiatives." (quoted from blog on 7/9/2009 9:54am) Even so, this activity would not harm the KofC, the notes drawn against the policies are still equity, It's not like the Knights (or any insurance company) keep all that cash in a mattress somewhere. This is accounting 101, folks. Sadly, Fr. Geoff's poor financial advice will only serve to hurt those who follow it, not the Knights as he intends. Thanks for letting me clarify! -Didymus In the interests of accuracy, Fr. Geoff did not, himself, encourage non-repayment of loans against KofC Policies. It appears he was mis-quoted on CNA.com

The relevant section of his blog (currently) reads as follows. I imagine it is possible it has been edited since the original quote, but it’s not likely.

“1) Borrow the full amount against your Knights of Columbus life insurance policy immediately. Take the check and invest the funds with an LGBT friendly fund. If every priest and K of C insurance policy holder were to do this, it would create a considerable capital drain on K of C and cripple their ability to write large checks to thwart LGBT legislation and ballot initiatives.” (quoted from blog on 7/9/2009 9:54am)

Even so, this activity would not harm the KofC, the notes drawn against the policies are still equity, It’s not like the Knights (or any insurance company) keep all that cash in a mattress somewhere. This is accounting 101, folks.

Sadly, Fr. Geoff’s poor financial advice will only serve to hurt those who follow it, not the Knights as he intends.

Thanks for letting me clarify!
-Didymus

]]> By: Didymus http://catechismoncall.wordpress.com/2009/06/19/pray-for-father-geoff-farrow/#comment-405 Didymus Wed, 08 Jul 2009 23:37:53 +0000 http://catechismoncall.wordpress.com/?p=1323#comment-405 Thanks for this article. I, as a member and officer in the KofC, was taken aback by Fr. Geoff's lambasting of the Knights. After some research I realized Fr. Geoff's issues are not with the KofC, but with the Catholic Church in general. Rather than spend time re-inventing the wheel I'll point them to your blog instead. Thanks for this article. I, as a member and officer in the KofC, was taken aback by Fr. Geoff’s lambasting of the Knights. After some research I realized Fr. Geoff’s issues are not with the KofC, but with the Catholic Church in general. Rather than spend time re-inventing the wheel I’ll point them to your blog instead.

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