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Proserpine
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Re: Cynical Cunts
Nov 08, 2001, 16:59
I remember we were talking recently about 'ethical' investment & banks investing in arms. Just got this reply back today from the Co-operative Bank, after I e-mailed them asking why they qualify their policy of not investing in armaments with "to any country which has an oppressive regime." - which seems to me very hypocritical, and pretty much pointless. Again, as with "terrorist", it all comes down to definitions & who decides these definitions. Here's their response:-

“Thanks for your recent e-mail regarding the arms trade. Our current position is as follows:

"We will not invest in or provide financial services to any business involved in the manufacture sale, licensed production or brokerage of armaments to any country which has an oppressive regime."

This position is supported by 94% of customers

It is important to realise that the cornerstone of our Ethical Policy is that all the statements contained within it are there because customers have raised them. It is not for the bank to take an arbitrary stance on any issue but to ensure that our policy continues to reflect the views of the majority of our customers. Whilst detailed research clearly shows our customers support including the sale of arms to oppressive regimes, this support does not extend to cover the whole of the arms trade.

We are committed to regularly consult with customers to make sure our Policy continues to reflect their views. Later this year we will once again be canvassing the views of all bank customers in our Ethical Policy Review, when these and other new and existing statements will once again be open for debate. As a customer you can be confident that your views will be important in the setting of this future policy.
I hope this is helpful,etc..."
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Cynical Cunts (Wella Balsam)		 Replies:
Re: Cynical Cunts (morfe)
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