May 7, 2025 · 29 min · 8 segments
Housing prices in at least one major Canadian market have fallen. By a lot. On this week’s TLDR, why nobody seems to be feeling any relief. Plus, TMX Group CEO John McKenzie explains what’s very wrong…
John McKenzieGuest
Sarah RiegerHostMatt KaraszHostSarah Rieger, who is making or losing money that is interesting to you right now?
Okay, so everyone is talking about the search for a new pope right now, which is a story about a lot of stuff, right? Like religion, institutions.
So in addition to doing, like, Pope stuff, you know, talking to world leaders, spiritual messages, all that kind of thing, the Pope is a head of state, right, for the Holy See, which is the central governing body of the Catholic Church, which means the new Pope is actually going to be in charge of this empire that is worth billions of dollars.
And according to this recent article in Forbes, those resources have not been managed super well over the years.
the Holy See and how big of an enterprise it is? Because it is one of those things that's like the fodder of internet conspiracy theories.
I think everyone kind of knows that it's more powerful than you think and richer than you think.
It manages the country of Vatican City, the Vatican Bank, the entire Catholic Church.
The Vatican owns more than 5,000 properties around the world from, you know, churches to various investment properties.
And those are full of a totally unknown to the public number of assets like art, historic relics.
And they are probably priceless, but they're not really bringing in profits, right?
So there's the Vatican Bank, and it manages about $6 billion U.S. dollars in assets.
Sarah Rieger, who is making or losing money that is interesting to you right now?
Okay, so everyone is talking about the search for a new pope right now, which is a story about a lot of stuff, right? Like religion, institutions.
So in addition to doing, like, Pope stuff, you know, talking to world leaders, spiritual messages, all that kind of thing, the Pope is a head of state, right, for the Holy See, which is the central governing body of the Catholic Church, which means the new Pope is actually going to be in charge of this empire that is worth billions of dollars.
And according to this recent article in Forbes, those resources have not been managed super well over the years.
the Holy See and how big of an enterprise it is? Because it is one of those things that's like the fodder of internet conspiracy theories.
I think everyone kind of knows that it's more powerful than you think and richer than you think.
It manages the country of Vatican City, the Vatican Bank, the entire Catholic Church.
The Vatican owns more than 5,000 properties around the world from, you know, churches to various investment properties.
And those are full of a totally unknown to the public number of assets like art, historic relics.
And they are probably priceless, but they're not really bringing in profits, right?
So there's the Vatican Bank, and it manages about $6 billion U.S. dollars in assets.
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