But for those sinners who claim to have repented, and so are to be absolved of part or all of their debts, there is the question of what to do with the money that no longer has to be handed over as interest payments.

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We are all sinners, but His grace transforms us and makes us new.

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But they have been among the worst sinners during the Asian boom years, investing with no apparent regard for economic return and, collectively, running up debts five times the size of their equity.

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In the global village it's harder for scamsters to hide their past, but it's harder as well for reformed sinners to get a fresh start.

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Cardinal Cormac Murphy-O'Connor, a former Archbishop of Westminster, told the BBC the Church had not lost its moral authority, but that it was "composed of saints and sinners".

BBC: Cardinal Keith O'Brien