[Diggers350] Fwd: Co-op

[greenwomble]

The Coop bank was a one member Ltd Company.

It had to be a Ltd Company to be able to act as a bank.

The one member that owned it was the Cooperative Industrial and
Provident Societies.

Can't remember which, I think it's all a conglomeration of the
wholesale society the funeral the insurance and the shops etc

So it's a one member one shareholder Company that's now had to include
other shareholders.

Basically,  It's finished

So what,  It's just a vehicle company for the Ips conglomerate which
has a history and only a history of designing the first legal
structure that was taken up and copied by other cooperatives that came
after (there had been many prior to them)

However getting back to the Coop Bank. It has the knowledge and the
expertise to restart.

A similarly structured savings bank tomorrow.

Could be called Bank Coop.

And just tell the existing investors to shift their money across.

There is certainly a market for what's called ethical investing and
the one that will get the most business will be the one which is the
most ethical.

Frank

On 05/11/2013, Simon Fairlie <chapter7 at tlio.org.uk> wrote:
>
>
>> From: "Martin Caldwell, SumOfUs.org" <us at sumofus.org>
>> Date: 5 November 2013 09:05:00 GMT
>> To: "Simon Fairlie" <chapter7 at tlio.org.uk>
>> Subject: Co-op
>> Reply-To: us at sumofus.org
>>
>> The Co-op bank is about to be taken over by US financiers and City
>> speculators. But there is still a chance to save it.
>>
>> If there is enough taxpayer money to bailout huge financial
>> institutions then why not the Co-op? Tell George Osborne and the
>> government to save the Co-op 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-operative Bank and force it to float on the stock
>> market. This will end over 140 years of independence and is a huge
>> threat to the values of the co-operative movement -- unless we can
>> stop it.
>>
>> The government could step in and bail them out, just like they did
>> for the Royal Bank of Scotland and Lloyds. If there is enough money
>> to save giant banks, then surely there is enough to save the Co-op.
>>
>> Tell George Osborne and the government to step in and save the Co-
>> operative bank.
>>
>> Nearly every town and village in the country has a Co-op, whether
>> it is a shop, a pharmacy or a bank. It’s at the heart of our
>> communities and a part of our history. What makes the Co-op so
>> unique and precious is it is owned by its members (that’s us!) and
>> run on ethical grounds. It doesn’t answer to greedy shareholders
>> and it doesn’t invest our money in dodgy companies.
>>
>> Saving the Co-op is more than just saving a bank, it’s about saving
>> the principles of the Co-operative movement -- customer owned,
>> investing ethically and treating its workers fairly. You don’t have
>> to be a customer of the Co-op to realise there is an important
>> principle at stake here.
>>
>> As a movement, we are often campaigning to make corporations a
>> little bit more like the Co-op. We’ve demanded companies like River
>> Island treat Bangladeshi factory workers fairly. We’ve campaigned
>> to keep the Royal Mail in public hands and we’re campaigning to get
>> Coca-Cola to speak out for LGBT rights in Russia. Now we need to
>> make sure that the Co-operative bank remains free of the control of
>> American hedge funds and stock market speculatorsand protects the
>> values of the Co-operative movement for generations to come.
>>
>> Can you take 1 minute to ask George Osborne and the government to
>> save the Co-operative bank?
>>
>> Thanks for all you do,
>> Martin, Johnny, Paul and the rest of us.
>>
>>
>> **********
>>
>> Co-op to lose control of bank, BBC News Online, 21 October 2013
>> Co-operative Bank rescue by hedge funds deals blow to pioneers'
>> dream, The Guardian, 27 October 2013
>>
>>
>>  SumOfUs is a world-wide movement of people like you, working
>> together to hold corporations accountable for their actions and
>> forge a new, sustainable path for our global economy.
>>
>> You can support our work by donating here.
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>


-- 
  It's a revolution. But, it's more of an evolution that no one will
notice. It might get a little shadier, or brighter. Buildings might
function better. You might have less money to earn because your food
is all around you and you don't have any energy costs.  and more
people will be fed, as more land and resources, kept scarce for the
dollar, for the  abundance called glut,  will be shared.