While the Co-op's board has agreed the deal, there is likely to be much debate inside Britain's largest mutual organisation about the cost of the rescue, the prospect of running a business with a large number of shares owned by non-mutual institutions and the potential for another banking crash to wreck the wider Co-operative Group.
Lawyers and bankers counter this defense by saying that Washington Mutual, an institution that JPMorgan aggressively pursued, represents an even greater mortgage time bomb for the bank.
The European bank had bought $1.6 billion in mortgage securities issued by Bear Stearns and Washington Mutual, another institution taken over by JPMorgan during the credit crisis.
The European bank had bought $1.6bn in mortgage securities issued by Bear Stearns and Washington Mutual, another institution taken over by JP Morgan during the credit crisis.
He was forced out as chairman of the Co-operative Bank over concerns about his competency, soon after being questioned by MPs about a £1.5bn capital shortfall that forced the 70% sale of the mutual financial institution to investors including US hedge funds, as well as an ill-fated attempt to take over branches from the bailed-out Lloyds Banking Group.
FUND = The number of tradable shares held by mutual-fund institutions among the ten largest shareholders, divided by total tradable shares at the end of year t.
Chicago's situation is reminiscent of that of the Boston Symphony Orchestra and the Metropolitan Opera, where the institutions' mutual music director, James Levine, has had to cancel numerous performances in recent seasons for various health problems.
"It looks like most of the pain is behind us," said Mr. Stolper, whose firm, Stolper & Company of San Diego, invests in both stocks and mutual funds for institutions and affluent individual clients.
The important point of agreement lies in their mutual focus on institutions or rule-governed practices as the trigger of genuinely egalitarian distributive obligations.
One reason why the sub-$5 share price part of the market is potentially fertile ground for investors has to do with the fact that many mutual funds and institutions shun these low-priced shares either over concern for liquidity and or because their charter prohibits them from dabbling in these stocks.
But unexpectedly, France's mutuals, traditionally conservative institutions who normally lend small sums, have come out the worst from the crisis.
