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The story of the Northern Counties Building Society is instructive. Established in 1850 in the North East by dispossessed workers who pooled their fu… - Maurice Glasman, Baron Glasman
" "The story of the Northern Counties Building Society is instructive. Established in 1850 in the North East by dispossessed workers who pooled their funds to retrieve a home in the world it grew steadily over the years. It was part of the local economy and society, that most precious civic inheritance, a trusted financial institution. In 1965 it merged with another local institution, the Rock Building Society to become Northern Rock Building Society. It demutualised in 1997 and became Northern Rock, which sponsored Newcastle United and became the fifth biggest lender in the UK market. An institution that was founded by local people for local people and had partnered its region in good times and bad for a hundred and forty seven years, that had weathered four serious depressions and emerged stronger from each could not last through New Labour’s period in Government.
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About Maurice Glasman, Baron Glasman
Maurice Glasman, Baron Glasman (born 8 March 1961) is an English political theorist, academic, social commentator, and Labour life peer in the House of Lords. He is a senior lecturer in Political Theory at London Metropolitan University and Director of its Faith and Citizenship Programme. He is best known as a founder of Blue Labour, a term he coined in 2009.
Also Known As
Alternative Names:
Maurice Mark Glasman, Baron Glasman
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Maurice Glasman
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Maurice Mark Glasman
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Lord Glasman
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Additional quotes by Maurice Glasman, Baron Glasman
Cameron made the Hugo Young speech, where he claimed the co-operative movement, building societies, the mutuals, the early trade unions for the Conservatives, and we were completely silent. That's linked to the excessive statism of Brown. We had to reclaim Labour history. It was also a way of talking about capitalism again, and resistance to capitalism. And working [in London Citizens] with low-paid people, most of whom were women, had reminded me of their concern for their parents and their children, and their commitment to work and not wanting to be on welfare.
Capital has just become completely disconnected from the people. Labour was born in the world to resist the domination of capital. That’s our thing. So we say that five percent of the bailout should be used to recapitalise local banks. It’s our money anyway. Those local banks should only lend in the area that they’re in. Germany’s a very successful, a very, very successful example of how this can work.
I realised that over a few years through these London Citizens campaigns we’d developed a more radical political economy than the Labour Party. For me, it was catch up, catch up, catch up. I was always a Labour, secular, left-winger and this was all new. One of the big lessons for me was which people would turn up. If the mosque said 50 people, the Catholic church says 50 people, the local black church says 50 people, they turn up. When the trade unions said 50 people, no-one turns up. So suddenly the crisis of secular institutions and their reproduction came to me.
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