Call for Northern Rock to be remutualised

In its latest report, the BSA says failed banks should be converted into mutual organisations to strengthen competition and create a more diversified financial sector. It says a remutualised Northern Rock would help the Government meet its policy objectives of supporting competition and diversity through the maintenance of a strong mutually-owned financial sector. Mutuals can disperse wealth to regional and local economies by reducing the concentration of financial sector resources and employment in the City, the report says.  A financial system with diverse ownership and governance s...