Corporate absolution?

Posted online yesterday, I saw an interview with the Board Chairman of a European financial giant. He was talking with a business reporter about the company's recent ups and downs, which included taking a hit on their ratings by S&P for investing without proper caution (and subsequently taking a bath in the markets last Fall).

I loved this particular quote (identifying information altered slightly):


Q. How quickly can [Company X] regain its earlier [AAA] rating from Standard & Poor's?

A. As far as clients are concerned, our Standard & Poor's rating is the most important thing. Last year's drop from [AAA] to [AA+] has no significant short-term effects; nevertheless, regaining the [AAA] rating is an important target for us. Internally, our capital already exceeds the requirement. However, Standard & Poor's specifications prevent any change in the current situation in the near future. Let me put it like this: the sin is not immediately followed by absolution. You have to follow the Ten Commandments for a while first.

(italics mine)

Wow. An allusion to Christian (read: Catholic) doctrine. There is an expectation of sorrow and remorse as a result of "bad behavior", even for corporations. Not to mention the need for evidence of your contrition, shown by doing some form of penance, like actually following the rules for a while. (not so easy, when you're used to "sinning" routinely, and live in a "sinning" culture.)

Remarkable. Who says Europe is a post-Christian culture?

Then again, this guy IS really old. He might have to explain that absolution/penance metaphor to his twenty-something Euro-grandkids. I'll bet they don't get it; young Americans still might.