Colombian President Abelardo de la Espriella issued a public apology on August 7, 2026, for violating the constitutional principle of state secularism during his inauguration speech. ^[1] President Abelardo de la Espriella concluded his apology message with the phrase 'Long Live Christ the King' (¡Viva Cristo Rey!). ^[2] Democratizations have a large, negative impact on asset valuations driven by a rise in redistribution risk, with risk premia substantially elevated prior to and during democratizations. ^[3] The paper examines the conventional view that redistribution is central to the democratization process using data from stock markets across 90 countries over 200 years. ^[4] Abelardo de la Espriella promised to guarantee the religious freedoms and rights of all Colombians, including the freedom to profess any religion or none. ^[5] The President stated that he identifies as a Catholic believer but affirmed his respect for the separation between the Church and the State. ^[6] An extended version of the canonical redistribution-based model of democratization that includes asset prices can quantitatively explain the observed effects. ^[7] Successful democratizations lead to substantial redistribution, characterized by the growth of the public sector, falling income inequality, and a rising labor share of income. ^[8] According to official figures, 79% of the Colombian population identifies as Catholic, followed by Protestants, Evangelicals, and Christians at 10.1%. ^[9] President Abelardo De La Espriella sparked controversy by exclaiming 'Viva Cristo Rey' after apologizing for the lack of inclusion of certain religious cults during his inauguration. ^[10] The blogger urges Colombians to focus on critical national issues such as earthquake reconstruction, fiscal deficits, and the threat of power outages rather than religious or cultural debates. ^[11] The author states that between 7.5% and 7.8% of the population has no religion, while atheists and agnostics make up between 0.6% and 1%. ^[12]