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Stop the RBS fat cats

Jan 20

Written by:
20/01/2012 14:19  RssIcon

Petition to cap RBS bonuses

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!

Global web movement, Avaaz, has organised a petition to George Osborne to force a drastic cap on RBS bonuses and ban the use of our money to lobby the government.

RBS executives meet on Wednesday 25th January. Click here to stop the great fat-cat rip-off, and then share this with everyone:

http://www.avaaz.org/en/stop_rbs_bonuses_a/?vl

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. According to Avaaz, 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.

RBS’s executives still want to award themselves “performance” bonuses. 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.

Avaaz—meaning "voice" in several European, Middle Eastern and Asian languages — launched in 2007 with a simple democratic mission: organize citizens of all nations to close the gap between the world we have and the world most people everywhere want.

 

See our Banking reports to see how the banks compare on all our issues.

Our banking, mortgage and ISAs reports are all due to be updated in early February.

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