Virtuoso 27,180 Posted January 7, 2014 Share Posted January 7, 2014 Co-op Bank slammed for dishing out £33m in cheap loans and overdrafts to Celtic Football ClubThe Co-operative Bank has come under fire for dishing out £33.2million in cheap loans and overdrafts to Celtic Football Club, which was chaired by former Labour home secretary John Reid.MPs last night demanded an explanation for the rock bottom interest rates and accused the mutual of using the 'hard-earned cash of millions of savers for political gain'.It is the latest twist in the row over the troubled lender's links with the Labour Party.Glasgow-based Celtic was chaired by Lord Reid, the former home secretary under Tony Blair, between 2007 and 2011.Labour's former energy minister Brian Wilson joined the Celtic board in 2005 and remains a director.Insiders said the loan pre-dates both Wilson and Reid's arrival at the club.But Celtic has long-established links with Labour, which has controlled Glasgow City Council since the 1970s.The latest company accounts for Celtic show it has a £12million overdraft facility charging an average of 1.5 per cent over the year to June 30 2013.This is based on one percentage point above the Bank of England's base rate, which is currently 0.5 per cent.The remainder is made up of a £21.2million long-term loan, with an average rate of 1.65 per cent. This makes even Labour's recent £1.2million cheap loan at 4 per cent – or 3.5 per cent above Base Rate – look expensive.Co-op's hugely generous terms once again highlight the close links between the scandal-hit lender and the upper echelons of the Labour Party.The political connection has come under the spotlight after former Labour councillor and former Co-op Bank chairman the Reverend Paul Flowers was caught out allegedly organising drug-fuelled orgies with rent boys.Mark Garnier, the Conservative MP and member of the Treasury Select Committee, said: 'The questions about Labour's influence over the management of the Co-op knows no limit. It now seems that cheap loans are available to organisations where Labour ministers have significant influence as well as directly to the Labour Party itself.'He added: Why were Labour and their friends receiving cheap loans? What political outcomes was the Co-op trying to buy? Were the millions of savers at the Co-op bank told their hard-earned cash was being used for political gain? Have any of the Labour-related soft loans contributed to the £1.5billion black hole in the Co-op balance sheet?'The first deadline to vote on a rescue package to plug a £1.5billion black hole in the lender's finances falls at 4.30pm on Friday.The Co-operative Party, the political wing of the Co-op, is the sister party of Labour. In order to help shore up its finances Co-op Bank stopped lending to small firms in May.http://www.thisismon...tball-Club.html Quote Link to post Share on other sites More sharing options...
SeparateEntityMyArse 53,900 Posted January 7, 2014 Share Posted January 7, 2014 Wow. Imagine labour controlled GCC then gave the mhanks cheap land deals.Tick tock tick tock. Quote Link to post Share on other sites More sharing options...
Big Al 55 9,281 Posted January 7, 2014 Share Posted January 7, 2014 Is this groundhog day? From 27th November Quote Link to post Share on other sites More sharing options...
Courtyard Bear 41,357 Posted January 7, 2014 Share Posted January 7, 2014 Tick Tock, hopefully someone will start asking the land questions in the right circles. Quote Link to post Share on other sites More sharing options...
ianb1547 3,767 Posted January 7, 2014 Share Posted January 7, 2014 One for General Football & Sports...Why would i want to see that in here?........ Quote Link to post Share on other sites More sharing options...
Courtyard Bear 41,357 Posted January 7, 2014 Share Posted January 7, 2014 One for General Football & Sports...Why would i want to see that in here?........Maybe because it directly affects us. Quote Link to post Share on other sites More sharing options...
ianb1547 3,767 Posted January 7, 2014 Share Posted January 7, 2014 Maybe because it directly affects us.Simply....No It Doesn't and it shouldn't be in BD. Quote Link to post Share on other sites More sharing options...
bluie127 13 Posted January 7, 2014 Share Posted January 7, 2014 This is a goer from someone who posts on the Bill Mcmurdo web page and has been going on for a while, the guy has written to the Glasgow Distric Council on numerous occasions and i belive he is now getting under thier skin. Worth checking out. Quote Link to post Share on other sites More sharing options...
Adoniram 1,919 Posted January 7, 2014 Share Posted January 7, 2014 Simply....No It Doesn't and it shouldn't be in BD.And it's naive and stupid attitudes like yours that allows this corruption to go unchallenged. Quote Link to post Share on other sites More sharing options...
Faircity 186 Posted January 7, 2014 Share Posted January 7, 2014 It does concern us if these fuckers are proven to be cheating.......and it looks prima facie to coin a phrase like they have..... Quote Link to post Share on other sites More sharing options...
Frank Reynolds 3,359 Posted January 7, 2014 Share Posted January 7, 2014 And it's naive and stupid attitudes like yours that allows this corruption to go unchallenged.It's not naive or stupid, it's a fair point.This should concern us, yes, as justice needs to be done, but it is not a topic for the BD.We are not them, we shouldn't fill our subforums, specifically there to talk about Rangers, with shit about them.http://forum.rangers...howtopic=261872This thread was locked for the same reason Quote Link to post Share on other sites More sharing options...
Courtyard Bear 41,357 Posted January 7, 2014 Share Posted January 7, 2014 Simply....No It Doesn't and it shouldn't be in BD.So the fact our soon to be biggest rivals again are getting state funding to have an advantage doesn't affect us, ok then. Quote Link to post Share on other sites More sharing options...
Adoniram 1,919 Posted January 7, 2014 Share Posted January 7, 2014 It's not naive or stupid, it's a fair point.This should concern us, yes, as justice needs to be done, but it is not a topic for the BD.We are not them, we shouldn't fill our subforums, specifically there to talk about Rangers, with shit about them.http://forum.rangers...howtopic=261872This thread was locked for the same reasonAnd it's that reason that allows us to be butt fucked by them and the media at every turn.Selected issues like this are relevant for the BD because of what happened to us.If you don't care about it fine don't bother commenting in the thread then. Simples. Quote Link to post Share on other sites More sharing options...
Frank Reynolds 3,359 Posted January 7, 2014 Share Posted January 7, 2014 And it's that reason that allows us to be butt fucked by them and the media at every turn.Selected issues like this are relevant for the BD because of what happened to us.If you don't care about it fine don't bother commenting in the thread then. Simples.What reason is is that allows us to be 'butt fucked' by them and the media?Is it wanting to keep a separate forum just to talk about Rangers?Selected issues like this? This is just a copy and paste of a 6 week old article with nothing new.If there was groundbreaking news about this story, fine, I can see why someone would post in the BD as it would get the maximum number of views, but this was nothing new.Where did I say I don't care about this?I do care, I would just like the option of being able to come into the BD and read threads about Rangers, and not see old threads about them all the time Quote Link to post Share on other sites More sharing options...
Adoniram 1,919 Posted January 7, 2014 Share Posted January 7, 2014 What reason is is that allows us to be 'butt fucked' by them and the media?Is it wanting to keep a separate forum just to talk about Rangers?Selected issues like this? This is just a copy and paste of a 6 week old article with nothing new.If there was groundbreaking news about this story, fine, I can see why someone would post in the BD as it would get the maximum number of views, but this was nothing new.Where did I say I don't care about this?I do care, I would just like the option of being able to come into the BD and read threads about Rangers, and not see old threads about them all the timeLike i said if you don't like it don't open it and comment in it. How much simpler can it be?And the reason it should be in the BD is because it is the top viewed area of the Forum. Quote Link to post Share on other sites More sharing options...
Thermopylae 15,287 Posted January 7, 2014 Share Posted January 7, 2014 One for General Football & Sports...Why would i want to see that in here?........Since they are our only domestic competition I can't see how it wouldn't effect us Quote Link to post Share on other sites More sharing options...
Frank Reynolds 3,359 Posted January 7, 2014 Share Posted January 7, 2014 Like i said if you don't like it don't open it and comment in it. How much simpler can it be?And the reason it should be in the BD is because it is the top viewed area of the Forum.I opened this because, like I said, I thought there had been more development in this story, and so I thought someone had put it here because it is the most viewed area on the forum.But there was nothing new, so it shouldn't be here.How much simpler can it be? Quote Link to post Share on other sites More sharing options...
j1mgg 3,766 Posted January 7, 2014 Share Posted January 7, 2014 This will never get into theainstream media. Quote Link to post Share on other sites More sharing options...
BLUEDIGNITY 33,682 Posted January 7, 2014 Share Posted January 7, 2014 See anybody that doesn't want posts like this that affect us in the Bears' Den they should fuck off from the Bears's Den, in fact they should fuck off from RM because they are useless, spineless apologists that have got us in this situation because of their dignified silence ! Quote Link to post Share on other sites More sharing options...
Jonok 1,245 Posted January 7, 2014 Share Posted January 7, 2014 Funny when this topic is discussed someone always tries to derail the thread look what happened n the last thread, keep it in the bearsden it belongs there. Quote Link to post Share on other sites More sharing options...
.Williamson. 82,876 Posted January 7, 2014 Share Posted January 7, 2014 See anybody that doesn't want posts like this that affect us in the Bears' Den they should fuck off from the Bears's Den, in fact they should fuck off from RM because they are useless, spineless apologists that have got us in this situation because of their dignified silence ! Quote Link to post Share on other sites More sharing options...
gogzy 31,195 Posted January 7, 2014 Share Posted January 7, 2014 I do care, I would just like the option of being able to come into the BD and read threads about Rangers, and not see old threads about them all the timehttp://forum.rangersmedia.co.uk/index.php?showtopic=263493 Quote Link to post Share on other sites More sharing options...
Big Al 55 9,281 Posted January 7, 2014 Share Posted January 7, 2014 There was a thread about this when the article was first published. Quote Link to post Share on other sites More sharing options...
Frank Reynolds 3,359 Posted January 7, 2014 Share Posted January 7, 2014 See anybody that doesn't want posts like this that affect us in the Bears' Den they should fuck off from the Bears's Den, in fact they should fuck off from RM because they are useless, spineless apologists that have got us in this situation because of their dignified silence !Okay, firstly, swear all you want, it won't validate your point any more.Secondly, if you read my posts again, you will see that I would concede to this being in the Bear's Den if it contained new information, but it doesn't.It's just a rehash of an old article, and is going to serve no purpose in being here. Quote Link to post Share on other sites More sharing options...
ZZed 4,510 Posted January 7, 2014 Share Posted January 7, 2014 time to ask your local Glasgow Labour councillor what he thinks of this. Glasgow Labour Party now appears to be the Celtic Labour Party. Quote Link to post Share on other sites More sharing options...
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