Cash For Coronets
Posted August 23rd, 2006 by quarsan
Ker-ching! The Labour coffers are overflowing once more with 'loans'. 28 million quid in three months. details here
No doubt Knacker of the Yard will be reading the list with interest.
Good cashflow, but not
Good cashflow, but not actually a lot of overflow. £8 million should have been repaid by now (or at least by next Thursday), and a further £10.9 million is due for repayment by the end of the year.
I think that's just the
I think that's just the official declaration of the loans we already know about. Apart from the banks, they are pretty much exactly the same as the one's on the list on this BBC page. Same names, same amounts.
I read somewhere that the party has tried to change the terms of these loans after the scandal broke so perhaps they've had be re-declared under the new terms?
Goddamn it, I bank with the
Goddamn it, I bank with the Co-op because they are supposed to be more ethical than the rest. I don't think bankrolling the Labour Party in its current state before they have disposed of Blair can be considered ethical. Why don't they borrow from Bank of America?
I should have known, with that weird symbiotic Co-op Party that's attached to the Labour Party, something like this had to happen.
Goatchurch, I was thinking
Goatchurch, I was thinking exactly the same thing. Maybe they can be reported to the Co-op because that bank is not supposed to have anything to to with arms dealing or animal experiments or despotic regimes ect. I'm tempted to complain.
You can always let the bank
You can always let the bank know how you feel about this by going here http://tinyurl.com/ddjla
I know I've made my displeasure felt.
Thanks for the link
Thanks for the link Strangefish. This angry customer has also made his displeasure felt. If I don't get a satisfactory reply I shall blog loudly about it.
Currupt,incompetent,left
Currupt,incompetent,left wing,sleazy tossers!
talking about
talking about incompetence,...the word you're looking for is 'corrupt'. Yawnnn@ right wing satanic tossers.
I wrote to the Co-OP Bank
I wrote to the Co-OP Bank asking them why thay had handed over 9 million quid to Labour and how Labour's wars in Iraq, deciet of the public and neo-con agenda fitted in with their morals and ethics.
I'd certainly be interested
I'd certainly be interested in seeing their reply. So, if you're inclined maybe it could be posted here?
Doubtless there will be no direct response to the questions posed. It's unlikely that the unfortunate low-grade clerks who are charged with the menial task of dealing with complaints will have the ability even to comprehend the questions.
If you're not careful you'll be caught up in 'customer care/customer service' Bermuda Triangle......
I got a reply from the Co-Op
I got a reply from the Co-Op Bank. My brief note to them made more or less the same points as Quarsan.
I joined the Co-operative Bank because of your ethical policy which I wholeheatedly approve of. I was glad to know that my money was not playing a part in weapons being used on civilians or to prop up despotic regimes or animal experimentation. Today I have found out that The UK Labour Party banks with you. The Labour Party supports animal experimentation, and has allowed Bombs to pass through the UK on their way to be dropped on the civilians of Lebanon. Not only that, the UK under Labour does millions of pounds worth of arms sales with Israel and (to an even greater extent) Saudi Arabia. The money Labour is depositing in your bank is currently being investigated by the police in the 'Loans' for Lordships corruption scandal. I fail to see how any of this fits in with your ethical policy. I am requesting that you reconsider managing the money of such an unethical customer, even if Labour is a profitable client. It would not be very good publicity for you if it became more widely known that you were ignoring your own ethical policy in such a shocking way.
Yours faithfully
Davide Simonetti
This is what they wrote back:
Thank you for your e-mail below regarding The Co-operative Bank's relations with the Labour Party. Our Mission Statement includes the following commitment:
"To be non-partisan in all social, political, racial and religious matters."
We are bankers to the Labour Party, irrespective of whether there is a Labour government or not. We are also bankers to other
political organisations.
We are unique amongst UK clearing banks in having a strong mandate from customers as to where they do, and do not, want their money invested. This forms the basis of our Ethical Policy in that all statements contained within it are there because our customers support them. We are committed to regularly consult with customers to ensure our policy continues to reflect their views, and our policy is only updated following an invitation to customers to vote on the issues that are of concern to them. Details of our Ethical Policy can be found on the following link:
In order to reassure customers such as yourself as to the integrity of our Ethical Policy, every year we open up our books to independent ethical scrutiny. Our 2004 Sustainability Report detailing this audit is available
on our website and can be found on the following link:
Thank you for raising your concerns with us, we appreciate all customer feedback.
Yours Sincerely,
Colin Baines
Ethics Adviser
Corporate Affairs & Social Goals,
the Co-operative Group,
6th Floor, New Century House,
Corporation St, Manchester, M60 4ES.
colin.baines@co-op.co.uk
Is it me being daft or are they failing to answer my point? I think this needs further investigation.
It should do. I'd be
It should do. I'd be inclined to move my account if I thought where to. Essentially, it's our bank balances that are keeping the party afloat now. Isn't that a nice thought?
Maybe there is an appeal process about what they think is ethical, where enough of us can take up a petition.
In the meantime, they're going to take the piss by refering us to the ethical policies espoused in the Labour Party Manifesto.