GOD’S BANKERS

A History of Money and Power at the Vatican

By Gerald Posner

Illustrated. 732 pp. 

‘God’s Bankers,’ by Gerald Posner

Ask a devout, theologically literate ­Roman Catholic to describe the institution of the church, and you’re likely to be told that it was founded by Jesus Christ at the moment he gave his disciple ­Peter the “keys to the kingdom of heaven” and vowed that “whatever you bind on earth will be bound in heaven.” This made ­Peter the head of the universal church, ­empowered to administer the sacraments, spread the Gospel, save souls and forgive sins until Christ’s return, as well as to pronounce with infallible authority on ­matters of Christian faith and morals. Christ also promised Peter that “the gates of hell shall not prevail” against the church — meaning that no matter how corrupt the institution might appear at any given moment of history, it will never be so consumed by evil that it ceases to be capable of fulfilling its God-appointed tasks.

Ask an informed historian or journalist about the history of the church — especially the Vatican and the papacy — and you are likely to hear a different story. On this telling, the church from the beginning has been an all-too-human institution that ­often follows a logic of self-interest, placing the good of its members ahead of those outside it, and the good of those in positions of ecclesiastical power ahead of the good of everyone else. To a greater or lesser extent, this has been true of most institutions throughout history, though it has been a particular problem in the 2,000-year history of the church, with its lack of democratic accountability and deep roots in the corruption-prone political culture of the Italian peninsula. The result has been a tension — and sometimes a blatant contradiction — between the church’s exalted claims for itself and its behavior.