Text size this story is by  At a mass at St. Peter's Basilica
prior to the cardinals' conclave, a few hours before his
transformation into Pope Benedict XVI, Cardinal Joseph Ratzinger
delivered a speech.  The Catholic world is in throes of a
"dictatorship of relativism" that "does not recognize anything
as absolute and leaves as the ultimate measure only the measure
of each one and his desires," the cardinal lamented.  Perhaps
Ratzinger does not follow the global capital markets. If he did,
he'd have known that the despised "dictatorship of relativism"
won the battle long ago. In stock, bond and commodities markets,
the dictatorship rules from high and few challenge its
supremacy.  Yesterday in this column, we expressed astonishment
at how Israel's institutional investors - provident and mutual
funds, pension funds, insurance companies - are merrily pouncing
on securities being issued by new companies, including plenty
owned by people who did terrible things the last time they
raised money. They defrauded inv