Although Positive Money is not advocating the regulation of banks, but is rather focused on exposing the serious flaw in the entire monetary system and dealing with the core, whilst banks have a virtual monopoly over creation of the public money supply and enjoying the subsidies and bailouts by the taxpayers, the regulators have to interfere in their internal policies.
So, consider to support this AVAAZ campaign:
Despite losing the bank £750 million in the last six months, RBS executives are spending a fortune lobbying the government and now want to get another £500m in bonuses! It’s a scandal at a time when cuts are biting all of us. But George Osborne heads up the body that will negotiate the deal. If we raise a massive public stink, the Chancellor could be shamed into rejecting RBS’s outrageous claim.
We don’t have long to stop this offensive corporate greed — RBS executives meet on Wednesday. Let’s deliver a deafening 100,000 strong petition to Osborne to force a drastic cap on RBS bonuses and ban the use of our money to lobby the government. Click here to stop the great fat-cat rip-off, and then share this with everyone:
RBS’s crash in 2008 shook the global economy, and the British taxpayer had to step in with £45bn to buy most of the bank. Since then RBS’s management have sold off the best bits of the bank, sacked around 20,000 people, and refused to boost lending to embattled businesses. The share price has plummeted, and British taxpayers are currently £23bn out of pocket.
Shockingly, RBS’s arrogant executives still want to award themselves “performance” bonuses. It’s incredible, but the chief executive wants a repeat of the £6.8m he took in 2011, and the head of the investment banking division wants to cash in share options for over £5m.
Yesterday Cameron made vague promises about tackling unfair rewards, yet claims his hands are tied on RBS. The truth is that over 80% of the bank is owned by the British taxpayer through a company whose board reports straight to Chancellor Osborne. Let’s remind him that he is accountable to us, not the greedy gamblers at RBS. Sign now and share this with everyone:
Fat cats and corporate raiders have pillaged our economy, and we are paying with our jobs and services while executive pay continues to skyrocket. But our campaign against the Murdochs shows that, when we stick together and stay strong, we can stop even the seemingly untouchable. Let’s stop the RBS bonuses and turn the tide of corporate greed..