Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Northern Rock Remutualisation or Privatisation?

Politics / UK Politics Nov 04, 2010 - 03:03 AM GMT

By: Submissions

Politics

Today Compass calls on the Government to launch an investigation into the feasibility of remutualising Northern Rock and Bradford & Bingley. A Compass commissioned YouGov poll yesterday showed nearly twice as many people favoured remutualisation of Northern Rock as opposed to a private sale. This follows on from Ed Miliband's recent support for remutualisation of the bank.


Private sector representatives, trade unions, campaigners and third sector representatives will all meet this Friday in Newcastle to discuss the importance of Northern Rock from the perspective of working people across the North East and plan a campaign to remutualise the bank.

Research from Compass shows that a private sale of the now nationalised banks would not allow the country to recoup on its losses at current market rates. However, if the government chose to remutualise them it would provide essential diversity to the banking sector which would reduce risk, and provide greater choice for the consumer and the government could in turn ensure a return on its bail out money through a preferential golden share option.

Neal Lawson, Chair of Compass says:

"British Banking is in a mess. It provides poor customer services and poor support for small businesses. It is clear that a private sale of Northern Rock now would just lead to more of the same bad practices without recouping the losses for the taxpayer.

Re-mutualisation of Northern Rock would help provide greater choice and diversity for the consumer. It would also provide greater stability for the community. This poll shows that local people want to see Northern Rock become once more a rock of stability, ownership and pride for the people of the North East"

Compass is the UK's most influential political pressure group with over 40,000 members and supporters across the UK. Together we campaign for a more democratic, equal and sustainable society. http://www.compassonline.org.uk/

For further information contact Neal Lawson on 07976292522

© 2010 Copyright  Compass - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in