Re-mutualisation of the failed banks
The financial crisis has come at a serious cost to everyone in the UK; whose savings have been risked, whose taxes may have to rise and whose livelihoods are threatened by the recession that has followed. It is vital that we learn from our mistakes and build more stable foundations for our financial sector in the future. That is why we believe all fully nationalised banks should be converted into mutuals, as this is the best solution for ensuring a stable, long-term future for these companies, and making sure that the risk taken by taxpayers will deliver for consumers.
For more on our campaign, see our dedicated site: The Feeling’s Mutual.
Latest articles on Re-mutualisation of the failed banks
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Shareholders are revolting (15 May 2012)
Last week saw significant numbers of shareholders flexing their muscles and reject executive pay agreements at Aviva, Trinity Mirror and the UK’s biggest car dealership Pendragon. So is shareholder activism the new political campaign and what’s it like to be a revolting shareholder? Melanie Smallman found out recently. Back in the 1990s, I was one [...]
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#SaveBianca! Ask your MP to vote for the End Legal Loan Sharking Amendment (18 Apr 2012)
Co-operative MP Stella Creasy has tabled an amendment to the Financial Services Bill which has cross party support, including from Conservative MPs. This would give regulators powers to tackle the problems caused by legal loan sharking. Please help this become law by asking your MP to join us and vote for this amendment next Monday 23 April 2012. The [...]
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Chris Evans MP: How the banks can tackle financial exclusion (22 Mar 2012)
Co-operative Member of Parliament Chris Evans MP outlines the background to his Banking Disclosure and Responsibility Bill in Parliament. It has been in vogue of late by all political parties to bash the banks. While nearly everyone has been quick to blame the banks for the financial collapse, very few have asked where do we go [...]
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Improving the regulation of financial services – from a co-operative perspective (2 Mar 2012)
It won’t be something that you’ll have spotted in the newspapers recently, but the Financial Services Bill – including the Government’s plans to scrap the FSA and create two new regulators under the direction of the Bank of England – is currently going through its Commons committee stage. I am leading for the Shadow Treasury [...]
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Move Your Money: if the banks won’t change, you can (23 Feb 2012)
Today the Royal Bank of Scotland, which also owns Natwest and is 83% owned by the taxpayer, announced bonuses of £800 million despite losses amounting to £2 billion. Meanwhile their score of -13 on Yougov’s consumer confidence index means RBS remains the least popular bank in the country. They’re not alone. Over coming days, Lloyds [...]
