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Is th Co op bust

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As reported in the Daily Telegraph

We agree with this

At the moment it looks as if the bank does not met the regulators liquidity requirement

Mind you the regulator has some very serious questions to answer as they approved not long ago the Co-op taking over 600 odd TSB branches

The Co-Op management also have serious questions to ask. Was the take over of these branches an attempt to hide the debt which was probably in danger of becoming invisible as another 632 branches on top of the 300 odd they have would  make it easier to loose in the books or at least make it less viable

and

We really need to get to grips with what happened during the merger (just like we need to know what went on with Lloyds and HBOS)…was any pressure brought to bear on the Co-op by Mr Brown et al, as this happened during his watch? So much money and information seems to be going astray┬áduring these transactions, it makes one very suspicious

 

 

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