Mutual benefit for not selling Northern Rock

http://www.mirror.co.uk/opinion/voiceofthemirror/2009/10/29/rock-of-ages-115875-21781328/

Voice of the Mirror
29 October 2009 

Given the dire state of the nation's finances the Government must be tempted to flog Northern Rock.

Alistair Darling would surely relish netting a few billion from a sale to a private buyer.

But there is strong case for returning the firm to its mutual roots.

Northern Rock started as building society helping the low-paid in the North East get a foot on the housing ladder.

It flourished for a hundred years before it was brought low by private-sector greed. A remutualised company could again help those struggling to get loans from the private sector.

And that could prove a far better benefit in the long term than any quick buck made from a lightning sale.