Bankrupt Dioceses Need to Fail, by Matt Kappadakunnel

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Melinda Gimpel. Free to use under the Unsplash License

By Matt Kappadakunnel, Crisis Magazine, Sept. 3, 2024

Matt Kappadakunnel is a finance professional who lives in Los Angeles with his wife and two young children. He is from the Syro-Malabar Rite. Previously, Matt spent a few years studying to be a Catholic priest, culminating in graduate studies at Fordham University. He is a graduate of Creighton University and is a CFA Charterholder.

Dioceses that are currently in or heading toward financial bankruptcy have already suffered from decades of moral bankruptcy that led to these monetary woes.

Matt KappadakunnelRecently, a friend expressed his frustration with the Justice for Survivors Act signed in the California legislature in 2023. This Act ends the civil statute of limitations for minors who have experienced sexual abuse. While my friend vehemently agrees that abusers ought to get their reckoning, he took issue with the preponderance of claims related to clergy who were long deceased. The result of this preponderance is the necessity for several dioceses in California to file for bankruptcy, while more teeter on financial turmoil. In his mind, why should the Archdiocese of Los Angeles be under financial strain due to the actions of priests who passed away decades ago? …

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