Save the co operative bank

The Co-operative bank is about to be swallowed up by two giant US financial speculators after it got into financial difficulty.

This deal is moving fast -- only this week the Co-op announced that it’s laying off workers and closing down branches, as part of the rescue deal. Soon US hedge funds and private investors will own up to 70% of the Co-op Bank and force it on the stock market. This will end over 140 years of independence.

The government could step in and bail them out, just like they did for the RBS and Lloyds. If there is enough money to save giant banks then surely there is enough to save the Co-op.

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Tuesday 5 November 2013

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