The Co-Op didn’t just need capital – it needed capitalists
Neither crystal meth nor rent boys are entirely unknown pleasures among churchmen or bankers. But we do have to thank the Co-Op Bank for bringing all four together in the one person.
Paul Flowers, the so-called “Crystal Methodist”, was kicked out of first the bank and then the Church after lurid accusations emerged about expenses abuse, drug binges and £1.5 billion holes in the bank’s finances.
That, though amusing, was not the stand-out part of the story for me. Instead, I was much more amused by the protests that followed. When Lord Myners, and the Prudential Regulation Authority, started to insist that …read more