Falling into the hands of

[ALB]

Falling into the hands of hedge funds and vulture capitalists ! What an undignified end to a bank used by the trade unions, the Labour Party and their branches and which thousands of people switched to in response to the appeals of Move Your Money (I wonder if the FSA will do it for mis-selling?)Bad timing too for a book released a couple of weeks ago by the New Internationalist and the Ethical Consumer:http://newint.org/books/politics/co-operative-alternatives-capitalism/We have got a review copy. The accompanying leaflet explained:

Quote:

… last year, in a bid to open up global debate on achievable ways of doing business, Ethical Consumer, a research and campaigning co-operative asked: "Is there a Co-operative Alternative to Capitalism?" [their bold]

Capitalism has given them the answer: No, except perhaps on the margins catering for a niche market; try to expand further and take on ordinary capitalist enterprises and you'll either become like one of them or being eaten alive by them.It will always be Capital Over People under capitalism. Capitalism and any other "ethic" than maximising profits are incompatible. As we've said all along. Not that that stopped some of us banking with the Co-op. That reminds me. I must rush to join the queue of people at my local branch waiting to withdraw their money.