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    21 January, 2009

    Smile at the super-mutual!

    Co-operative Financial Services and the Britannia are to form a new super-mutual as 'an ethical alternative to shareholder-owned bank'.

    I argued in a speech in Neath back in November that the current crisis offered a moment of progressive potential that could see a re-emphasis 'on the value of mutual solutions'. A summary of some of the points in that speech was given in my Labourlist article.

    This is a very interesting development.

    I notice that Britannia's Chairman is Rodney Baker-Bates, who was the Director of Finance when I was at the BBC in the 1990s, having joined the Beeb from the banking sector.

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    Promoted by Leighton Andrews AM, National Assembly for Wales, Cardiff CF99 1NA.

    Author's editorial policy: This blog does not publish anonymous comments, unless they are really witty and I like them. If you have something to say, then have the courage of your convictions and use your name or an identifiable alias. Even then I reserve the right not to publish comments that are malicious, defamatory, stupid, pointlessly cynical or boring. Any of the statements or comments made above should be regarded as personal and not necessarily those of the National Assembly for Wales, any constituent part or connected body.