David Parkin on getting spanked by an economist

THE Co-op's decision to pull out of buying more than 600 bank branches from Lloyds Banking Group was portrayed by some elements of the media as a failure.

But for who?

The Co-op blamed the continued economic downturn and tougher regulatory environment imposed on banks.

It had been hoped that the Co-op's purchase of the branches would create a bigger competitor to the main high street banks.

But it seems to me that the Co-op's prudence - and you can't blame a mutual organisation for that - reflects badly on t... For the full story register now for free or login below...