| ITALY'S MYSTERIOUS, DEEPENING BANK SCANDAL|
By PAUL LEWIS, SPECIAL TO THE NEW YORK TIMES
Published: July 28, 1982
As his financial difficulties mounted, the investigators assume Mr. Calvi needed the Vatican letters of comfort to reassure skeptical directors of his own bank that the lending program was sound and also to satisfy foreign lenders.
The real mystery, these sources say, is why Archbishop Marcinkus agreed to provide the letters of comfort that he knew could be used to make lenders think the Panamanian companies enjoyed Vatican backing, while at the same time demanding a secret letter from Mr. Calvi absolving the Vatican of any financial responsibility for what must have been looking by then like an increasingly risky operation. ''The Vatican must have known that the two letters could not be genuine at the same time; the deal was intended to defraud and to lead people astray,'' argued one senior Italian financial official.
The Pope has already appointed a three-member lay commission to investigate the Vatican bank. It is made up of an American Roman Catholic, Joseph Brennan, a former chairman of the Emigrant Savings Bank of New York; Phillipe de Wech, a former president of Switzerland's Union Bank, and Carlo Cirutti, an Italian civil servant with strong ties to the Vatican.
|KNIGHTS OF DARKNESS|
THE SOVEREIGN MILITARY ORDER OF MALTA
Joseph Brennan is the Chairman of the executive committee of the Emigrant Savings Bank of New York and a Knight of Malta.
|Other prominent American Knights include:|
Joseph Brennan, former chairman of the executive committee of the Emigrant Savings Bank of New York. Brennan was a member of an independent commission appointed by the pope to study the relationship between the Vatican Bank and Italy's P-2 Masonic Lodge.
| A partial list of the Knights and Dames of Malta reads like a Who's Who of American Catholicism:|
Joseph Brennan - Chairman of the executive committee of the Emigrant Savings Bank of New York.
* Cornwell,R. God's Banker. 1984 (209)
* Covert Action Information Bulletin 1986-#25 (35)
* Gurwin,L. The Calvi Affair. 1984 (134)
* Lernoux,P. People of God. 1989 (301)
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