Cardinal: Morality needed in business decisions

The top Roman Catholic bishop in the United States said Wednesday the global economic crisis was caused in part by people abandoning personal ethics, and he’s calling for increased morality in business. Cardinal Francis George, archbishop of Chicago and president of the United States Conference of Catholic Bishops, said the pursuit of fast profits undermined the financial markets’ ability to regulate themselves. “An economy that substitutes efficiency for morality will end up both inefficient and immoral,” George said in a speech Tuesday, the first night of the three-day annual convention of the Knights of Columbus, one of the world’s largest Catholic fraternal service organizations.