A new situation have arisen… a co-operative is now the biggest shareholder with control of one of the biggest banks of Scandinavia and the Baltics, Swedbank… it seems like a very interesting thing… the Swedish insurance company Folksam is a non-profit co-operation owned by its customers, an old company arisen from the workers unions.
A system that actually sounds kind of a communistic, or at least very socialistic idea.
Very interesting to see how they will deal with one of the sinking banking giants.
Swedbank itself was originally a workers and farmers alternative to the mainstream commercial banks, and was a co-operative bank system from the very beginning. Very successful with the common man, and was a trusted banking system, until someone in 1992 gave up on the co-operative owning and turned everything into share companies, and greed took over instead of supporting the people, and in that row they also took over the very greedy HansaPank of the Baltic countries…
Now the result is imminent. The greedy commercialism is taken over by one of the scarce, but vital, member co-operatives, and thus Swedbank will be somewhat non-capitalistic, or what…?
The system is a very good system indeed, in contrast to the present now failing system of everyone for himself, and furthermore, if possible, then kick your fellow man… especially if he is lying down.
I believe that socialism and the basic ideas of communism are good… co-operatives are one of those ideas… and I believe that we in near future will see more non-profit co-operatives raise, and it would indeed be very interesting if Swebank will become totally non-profit…
Co-operatives based on the basic values of self-help, self-responsibility, democracy and equality… one person = one vote, instead as of the egoistic capitalistic system with one dollar = one vote… could actually save the bankrupt countries and banks around us…
