Predictably, SNAP was unhappy with the bishop’s statement, but I think he was forthright about publicly acknowledging the cost of the sex abuse lawsuits.
Here is a bit more information, from a different source:
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Through 2012, the Catholic Church in the U.S. has paid out an estimated $2.2 billion to cover settlements, therapy for victims, support for offenders, attorney fees and other costs, according to a report by the U.S. Conference of Catholic Bishops.
In the Stockton diocesan bankruptcy, the parties will likely agree on a figure that the diocese would pay, in addition to potentially pulling in funds from insurers. However, the diocese says it holds “relatively little property and assets.” Other holdings, including schools, parishes and several parcels of land, are incorporated separately.*
online.wsj.com/news/articles/SB10001424052702304549504579320810491585726
That second paragraph is important because Stockton and surrounding area was hard hit by the collapse of the housing bubble and by the economic recession. Property values in the area remain are below what they once were. The city of Stockton itself, with its tax base devastated, declared bankruptcy. It is the most biggest city in the US to do so.
So the second paragraph supports the bishop’s claim that the enormous costs of the sex abuse crisis is responsible for the diocesan bankruptcy.