Scoop’s Views

Instead of outsourcing a call center or some other department, Sovereign Bank’s corporate officers, Sovereign Bancorp, is looking to sell out the Philadelphia-based financial institution to a foreign company.

Sure, we now live, more than at any point in history, in a global economy, but when it comes to me putting money in my bank, I want to know my bank is All-American. Jingoistic? No. Patriotic? Hardly. Overseas prejudice? Absolutely! When it comes to my money, where it’s kept, who has control over it, and the company that may go belly-up and legally owe – or be able to dodge U.S. laws – is of great interest to me.

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Are President George W. Bush, Secretary of State Condoleeza Rice, and India’s Pradeep S. Mehta, secretary general of the center for international trade, economics and the environment of CUTS International, an independent research institute based in New Delhi, all locked in an emotional argument without fact-based evidence?

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