Co-op Bank has lost £2.6bn since the crisis – but can still bounce back | Nils Pratley

Hedge funds wouldn’t be stumping up hundreds of millions to rescue the bank if wasn’t potentially profitableHere come those dastardly hedge funds, up to their usual tricks: they’re rescuing the Co-operative Bank for a second time.The oddity here is worth noting. Ethical banking, Co-op Bank-style, would be at risk of death, or uncertain resolution at the hands of the Bank of England, if the hedge funds that own the bonds were not willing to find the extra £750m of funding. Nobody, it appears, wanted to buy the bank after a four-month hunt for a purchaser, so the bondholders are having to dig deep, just as they did in 2014. Continue reading... ...
1 Published By - Network Front | The Guardian - 2017.06.19. 20:44
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