Post by Rude Eric on Feb 9, 2009 1:26:40 GMT
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John Prescott today (Sunday Feb 8th) called on people to join him in an online grassroots campaign to stop RBS and other banks that have been bailed out by the Government giving out bonuses.
Speaking to supporters at a rally in Manchester this morning he warned RBS, which is 68% owned by the Government: "We are all shareholders now and the shareholders demand you give up the bonus."
Mr Prescott is using Facebook to mobilise people into showing their anger against the bailed out banks. He already has more than 2,000 people signed up to his on going campaign called 'No Ifs No Buts, Pass On The Cut."
"We know that RBS, in which we own 68% of the shares after giving them £20billion of our money , is considering handing out £1b of it in bonuses to their bankers and traders. This is morally and economically outrageous.
"This is raw capitalism and this country rejects it. We don't want to hear that RBS has to pay out the bonuses because of 'contractual obligations.' If we hadn't bailed them out to save homeowners and businesses, their contracts would be worth nothing as they'd be out of work.
www.mirror.co.uk/news/latest/2009/02/08/prescott-launches-bank-bonus-battle-115875-21107854/
John Prescott today (Sunday Feb 8th) called on people to join him in an online grassroots campaign to stop RBS and other banks that have been bailed out by the Government giving out bonuses.
Speaking to supporters at a rally in Manchester this morning he warned RBS, which is 68% owned by the Government: "We are all shareholders now and the shareholders demand you give up the bonus."
Mr Prescott is using Facebook to mobilise people into showing their anger against the bailed out banks. He already has more than 2,000 people signed up to his on going campaign called 'No Ifs No Buts, Pass On The Cut."
"We know that RBS, in which we own 68% of the shares after giving them £20billion of our money , is considering handing out £1b of it in bonuses to their bankers and traders. This is morally and economically outrageous.
"This is raw capitalism and this country rejects it. We don't want to hear that RBS has to pay out the bonuses because of 'contractual obligations.' If we hadn't bailed them out to save homeowners and businesses, their contracts would be worth nothing as they'd be out of work.
www.mirror.co.uk/news/latest/2009/02/08/prescott-launches-bank-bonus-battle-115875-21107854/