Coop Party launch campaign to re-mutualise

Here's a campaign from The Co-operative Party - they want to help build a financial system that puts people before profit.

Photo: Coop party in Stroud High Street last Saturday collecting signatures including mine

That's very much in line with Green party thinking - however the Coop Party is the sister party of the Labour party - they have 29 Labour/Coop MPs incl David Drew. That party has, in the views of many, faced massive betrayal by Labour...indeed some would argue that their natural home of the cooperative movement shouldn’t be with a party that has scuppered and continues to disincentivise co-ops and friendly societies....

Here's what the Coop Party write:

The credit crunch that has paralysed our economy was caused by greedy banks gambling with our money and making massive profits through high risk deals. When those bets failed they took us all down with them. But mutual financial organisations like building socieites and credit unions have weathered the economic crisis better than the high street banks. Because they are owned and controlled by their customers they have taken fewer risks and put the interests of ordinary people first. That is why the Co-operative Party is running a major national campaign for those banks that failed us, like Northern Rock, to become mutuals again.

We want a stable financial system with a strong mutual sector. We want to see an end to greedy bankers gambling with your money. We want to reverse the damage the Conservatives did to our building socieities when they encouraged them to de-mutualise, and We want an economy that puts people before profit. If you agree, be part of our campaign by signing up on this website and joining our Facebook group. See more at: http://thefeelingsmutual.org.uk/

See also a Guardian article from last year here.