Good Banks ?

opinions4u

Anthorn wrote: »

Or to translate that, "The government were pushing us into it because they wanted us to be a competitor for the big banks and we tried to help the government but at the end of the day we just couldn't do it."

Which defines the Co-op's incompetence as being at the worst possible level.

So if the state of the bank was not known until it was miraculously discovered how is it that Lord Levene knew about it enough to warn Lloyds about it?

Wasn't he in some sort of bidding war with Co-op? Vested interest in doing them down.

Anthorn

opinions4u wrote: »

Which defines the Co-op's incompetence as being at the worst possible level.

Wasn't he in some sort of bidding war with Co-op? Vested interest in doing them down.

No, he was told in no uncertain terms that the government was supporting the Co-op Bank and he had not a cat-in-hell's chance of getting it no matter what his bid was.

But why does the Co-op Bank bother you so much?

MoneyMate

anotherbaldrick wrote: »

Thanks. The wife has a hokey cokey branch based account with Nationwide and I think you have resolved my mind on changing my accounts to them.

If you have not already, have a look at http://www.nationwide.co.uk/current_account/flexplus/default.htm
Must admit looking at it myself, useful if currently paying for Car breakdown and more . :beer:

ColdIron

Anthorn wrote: »

But why does the Co-op Bank bother you so much?

I think this question is better directed at you. After many many posts on this single subject you clearly have some sort of axe to grind

Anthorn

ColdIron wrote: »

I think this question is better directed at you. After many many posts on this single subject you clearly have some sort of axe to grind

I haven't started any but I have replied to a few threads. I have no axe to grind. I'm stating the true facts in a sea of propaganda. It appears that people can't think for themselves. They can only copiously vomit what they've been told.

It's interesting that there are so many negative comments about the Co-op Bank but relatively few against the carpet-bagging bank.

Archi_Bald

Anthorn wrote: »

I'm stating the true facts in a sea of propaganda.

Your loyalty to the Coop bank is remarkable, but your repeated attempts to lay the blame for the Coop's problems at the doorstep of current and previous governments or the FSA are pathetic.

Accusing those who disagree with you, in the face of the recent revelations, of propaganda is also quite hilarious, really. What you consider facts are often anything but facts, as aptly demonstrated when you claimed all the Coop Bank board members were "without exception non-executive" when this is just simply not true (ref thread).

Anthorn wrote: »

It appears that people can't think for themselves.

Just because I don't agree with half of what you say doesn't mean I cannot think for myself. I have seen plenty of other posters who don't agree with you either, but their posts invariably strike me as quite convincing, and supported by the facts they quote.

Anthorn wrote: »

They can only copiously vomit what they've been told.

I haven't seen anyone vomitting on this thread.

JuicyJesus

Archi_Bald wrote: »

Your loyalty to the Coop bank is remarkable, but your repeated attempts to lay the blame for the Coop's problems at the doorstep of current and previous governments or the FSA are pathetic.

It is rather entertaining watching people who otherwise would be slagging off RBS or Lloyds try and divert attention from what appears to be amazingly poor management at the Co-op. Not just poor, but stunningly incompetent - say what you like about Lloyds and RBS, they knew what they were doing.

opinions4u

Anthorn wrote: »

But why does the Co-op Bank bother you so much?

Crikey. You're the one banging on in defence of their incompetence.

They don't bother me much at all. But their holier than though "ethical" stance has always niggled. Now they're incompetent management is causing good workers to be made redundant. That irritates me. I suspect it does a lot more to those families affected.

Anthorn

Perhaps I should just agree with everyone that for example Rev. Flowers was responsible for the Co-op Bank's acquisition of Britannia which brought down the bank even though he wasn't at the bank at the time.

On the regulator: If the regulator doesn't regulate why is it there? What does it do if it doesn't regulate?

On the government: Well it's totally innocent isn't it? Didn't have anything at all to do with the Co-op Bank did it?

No-one at all knew about the Co-op Bank's financial position until it was miraculously discovered.

I can agree to anything even though it's total rubbish born out of a desire to cover up rather than inform.

JuicyJesus

Anthorn wrote: »

I can agree to anything even though it's total rubbish born out of a desire to cover up rather than inform.

I think you have the wrong end of the stick.

Nobody is arguing that regulation is 100% perfect. What everyone is saying is that the Co-op's misfortunes are a largely a result of its own idiotic management and that no amount of regulation will stop a business from just making plainly terrible decisions.

I am personally intrigued as to how RBS and Lloyds can just be cretins while the Co-op are victims. Lloyds f**ked up by taking over HBOS at the behest of the Government after they fell on their sword because of some terrible lending decisions; Co-op f**ked up by taking over Britannia, who then proceeded to follow a very similar path to HBOS.