Why would the church leaders say anything? More power to them, they get to profit without taking any risk and without having to say anything that could be condemnable. It's a win-win for them. If you spend enough time around them, you realize that they are too often awful people and that the scripture is actually their way to moral absolution.

As for your first statement, this is the correct explanation, that is supported by every historian that isn't a bible pusher.