New York Times Blasted for Criticizing Pro-Life Catholic Investing Program

National   |   Steven Ertelt   |   Dec 29, 2008   |   9:00AM   |   WASHINGTON, DC

New York Times Blasted for Criticizing Pro-Life Catholic Investing Program

by Steven Ertelt Editor
December 29
, 2008

New York, NY ( — With the current financial problems at the New York Times, perhaps the newspaper’s editorial board should refrain from attacking potential subscribers and investors. That’s the feeling of pro-life advocates upset that the newspaper recently blasted a pro-life Catholic investment program.

Ave Maria Mutual Funds, a family of mutual funds created for serious investors who are pro-life and don’t want their investments supporting pro-abortion corporations, has been around for years.

Last week, the editorial board of the New York Times, in an online blog, criticized Ave Maria Mutual Funds for running a radio ad on the Laura Ingraham show promoting its work.

The editorial notes that Ave Maria focuses on “smart investing and Catholic values" but blasted the firm by claiming it doesn’t represent Catholic values even though the Church has a strong historic pro-life position.

“Ave Maria, whose logo is a cross and open book within a Gothic window, conveys the implicit certainty that its vision of Catholic teaching is the correct one, that it has not misstepped in trading between God and Mammon," the Times wrote.

The Times editors branded the pro-life values of Ave Maria as "narrow."

In a response to the editorial, George P. Schwartz, the president of the fund, told, "It does not surprise me that the New York Times is critical of our Funds and the philosophy behind them."

"The Times has a long record of bias. We are proudly pro-life and that is a politically incorrect view according to the liberal elite media such as the Times," he said.

Catholic League president Bill Donohue also responded to the Times and said the newspaper should be focused on promoting ethical investing, not castigating it.

“One might think that in a time when the American people are being routinely fleeced by unethical investors that everyone would applaud an investment house that stresses its commitment to religious values," he said.

"But not the secularists at The New York Times: they are deathly afraid that Catholics like Tom Monaghan and Phyllis Schlafly, both of whom are fingered for being associated with Ave Maria Mutual Funds, might benefit from the financial crisis. A crisis caused, by the way, by irreligious investors," he explained.

"Indeed, the editorial is not so much a Catholic-bashing piece as it is a conservative Catholic-bashing screed. This would be a disgraceful editorial in any newspaper—it is doubly disturbing that it should occur in the New York Times, blog or no," Donohue added.

Robert Schwartz, Vice President and Director of Marketing for Schwartz Investment Counsel, Inc., the firm that manages all five Ave Maria Mutual Funds, said he had no apologies for running the radio spots.

"Laura Ingraham is a strong and powerful voice on so many issues – her pro-life views and Catholicity are what attracted us to become an advertiser," he said. "We have seen a significant increase in number of calls to our toll free number."

Ave Maria Mutual Funds consists of four equity funds and a bond fund.

ACTION: Send your complaints about the editorial to Public Editor Clark Hoyt at [email protected]

Related web sites:
Ave Maria Mutual Funds –

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