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TheCountOfNowhere

Co-Op Crisis Worsens

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http://news.sky.com/story/1243695/co-op-to-unveil-2-5bn-losses-as-crisis-deepens

"Co-op To Unveil £2.5bn Losses As Crisis Deepens

Members of the Co-operative group "will not see dividends for years" as the crisis engulfing it deepens."

Well done to the tories for fixing the economy.

The co-op should be lending 120% mortgages on london property, they'd recover in no time....

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This is still the rumblings of Labour's attempts to get all the good banks to pick up the ones falling over.

In this case Brittannia.

We can't have people failing it's not the socialist / capitalist way. Failure can't happen in the classroom it can't happen in business. Everyone must be a success the trouble is life is tough and failure happens.

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We can't have people failing it's not the socialist / capitalist way. Failure can't happen in the classroom it can't happen in business. Everyone must be a success the trouble is life is tough and failure happens.

Give the Co-op a A+ for effort and create a new A++++ for the successful banks, then everyone is successful rolleyes.gif

The UK where failure doesn't happen, just some are less successful than others.

Edited by TheCountOfNowhere

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The fads continue...remember when cooperatives were the alternative to "evil" capitalism. Where's Ed Miliband's take on this now?

http://www.theguardian.com/sustainable-business/co-operative-viable-alternative-business-model

I try and remember two points:

1. Politicians are like the management of any company - they are interested in saying whatever they have to in order to improve their position in life - nothing else matters to them.

2. Its fairly obvious that the cooperative bank has loads of loans that it gave to Labour secretly that are now being written off as they will never be repaid. Think about it, the unions can't provide enough cash for them to compete with the Tories. And without "Tony Blair New Capitalist Labour" where were they going to get the money from?

Edited by katchytitle

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Well done to the tories for fixing the economy.

Whatever the Tories have or haven't done, the one thing that is definitely not their fault is the mess at the Co-Op. That's a pure red f*ck-up that one.

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Whatever the Tories have or haven't done, the one thing that is definitely not their fault is the mess at the Co-Op. That's a pure red British Government f*ck-up that one.

You seem to want to distinguish between red and blue and yellow, mix those colour together are you get BROWN...says it all really.

Parliament has consisted of tory and labour alike for decades, they are the government, they all get blamed. I

've not seen any of them on TV saying that the banks should be shut down/immediately regulated and the criminals locked up, have you ?

Edited by TheCountOfNowhere

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Its fairly obvious that the cooperative bank has loads of loans that it gave to Labour secretly that are now being written off as they will never be repaid. Think about it, the unions can't provide enough cash for them to compete with the Tories. And without "Tony Blair New Capitalist Labour" where were they going to get the money from?

Maybe Labour could try adopting some policies that are good for ordinary people and reform itself as a democratic party which represents the members instead of all decisions being made by a tiny elite of image-obsessed Oxford PPE-educated property millionaires. Then ordinary people might feel inclined to join and pay subs. Just an idea.

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Maybe Labour could try adopting some policies that are good for ordinary people and reform itself as a democratic party which represents the members instead of all decisions being made by a tiny elite of image-obsessed Oxford PPE-educated property millionaires. Then ordinary people might feel inclined to join and pay subs. Just an idea.

correct. I post on the Guardian website now and then about the need for a party to represent labour over capital, and what we would call it if we had one. The mods there often delete my comments - I wonder who phones them up to complain!

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correct. I post on the Guardian website now and then about the need for a party to represent labour over capital, and what we would call it if we had one. The mods there often delete my comments - I wonder who phones them up to complain!

...hah ..hah..I notice all lefties don't like freedom of speech despite preaching it...do as I say ..not as I do ....pure leftie..... :rolleyes:

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http://www.ft.com/cms/s/0/3e7c0080-cbb9-11e3-a934-00144feabdc0.html#axzz2zmUNPsuy

"

Co-op recently asked members if they supported sponsorship of Labour. It has so far failed to publish the response. Fishy.

The board is “a political machine that happens to run a retailer” according to a critic. A confusion of mission between commercial and political goals is one reason that governance is dysfunctional.

"

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We can't have people failing it's not the socialist / capitalist way. Failure can't happen in the classroom it can't happen in business. Everyone must be a success the trouble is life is tough and failure happens.

Failure is the one redeeming aspect of capitalism and capitalism without failure is not capitalism.

Its self explanatory to all but the statist. 'COMPETITIVE' forces means that there must be losers as well as winners. 'COMPETITION' has no other meaning.

God forbid the winners, who run things well, might pick up the losers assets for pennies in the pound, write off half their 'value' and either reduce the mortgage to a rate the borrow can afford or offload them to via firesale auction, whichever makes most financial sense.

As said all along, the bailouts werent to help the borrowers/morgage holders, they were to help the failed banks (that'll be most of them)

Its my view this is why relatively well run institutions like Nationwide (up until 2009) have decided to be as irresponsible as possible since 2009. The banking system should have failed. The building socs should have bought up their loan portfolios for 50p in the pound, mortgage payments would have halved for most. Of course, building socs are regional and the regions would have prospered and London, finally under free market influences, would fail, as it really should have done during the de-industrialization of the 60s and 70s. London has NOTHING aside from tourism to offer. Its a PARASITE city. A worthless shell.

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London has NOTHING aside from tourism to offer. Its a PARASITE city. A worthless shell.

What about the meeja?

What about fashion?

What about the 'cultural melting pot'?

What about the quangos?

Ok, point taken.

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