Vatican Gambled Donations on Derivatives Pope savages speculation hours after revelations of new scandal VATICAN CITY (ChurchMilitant.com) - Pope Francis ranted against market speculation hours after the Financial Times revealed Thursday that the Vatican had invested donations for the poor to bet on the creditworthiness of now-bankrupt U.S. rental car company, Hertz. Pope Francis with Cdl. Giovanni Becciu The Vatican's Secretariat of State, under recently disgraced Cdl. Giovanni Angelo Becciu, used a €528 million Vatican-donations portfolio to purchase credit default swaps (CDS) based on a gamble that Hertz would not default on its debts by April 2020. A CDS is...