Angry about bonuses? Here's how to claim back agency from the banks

By transferring your money to an ethical bank, you can make a change to the financial system.

By transferring your money to an ethical bank, you can make a change to the financial system.

A group of activists have been holding underground meetings in Old Street, London. They've been plotting the next big campaign to reform finance after OccupyLSX. I was invited to see what they were up to, and it looks like they've got funding, contacts and a sound strategy. Now that bankers' bonus season is finally upon us, they are set to launch.

The campaign is called Move Your Money. The clue is in the name. Imported from the US, activists are calling on the public to transfer their cash from large, casino banks to more ethical alternatives like mutuals, credit unions and ethical banks. Off the record they say they have some high profile endorsements, but we'll have to wait until the formal launch to find out names. They want a collective shift of assets from institutions that pay large bonuses, take huge gambles and make unethical investments to those that offer something better. Almost everyone has a bank account, so everyone has a stake.

The original campaign continues to send shivers down the backs of irresponsible bank managers in the US, as consumers keep moving their money from Wall Street to Main Street. Originally started by Ariana Huffington in 2009, a national Move Your Money Day led to some 40,000 new accounts being created last November 5th, according to the US Credit Union National Association. Meanwhile the campaign's video has got some 600,000 views and its website has twenty-five pages of press links.

A new holding website that went up earlier today confirms that this campaign is now coming to the UK. Activists say they have raised several thousand pounds from various undisclosed funders, enabling them to pay at least one campaigner to work on the project full-time. They plan to start revealing high profile supporters before they ask the public to transfer their cash during a "month of action" in March. We can expect high street stunts and public education events around the country.

There are at least three reasons why this is a highly strategic campaign.

First, it is wonderfully populist. It's a campaign that goes beyond left and right and -- given it's based on freedom of choice and information -- it's completely compatible with capitalism. It's not an anarchic call to bring down the banks or score political points, it's about education, personal responsibility and collective action.

UK Uncut and OccupyLSX have a reasonably good reputation, but they remain small groups who punched above their weight because of daring action and a hungry press. In contrast, this campaign will be judged on just how many people they can get to shift their money, forcing them to reach out beyond the usual suspects.

Second, it is tangible. Most people feel that they are living at the mercy of markets they cannot control. We've been told the banks are too big to fail, but politicians don't seem to be building a secure alternative. For many, the Vickers report doesn't go far enough. But this campaign gives people something they can do. By transferring your money, you can actually protect yourself as an individual, and reclaim your sense of agency.

Third, it is effective. Through a co-coordinated campaign, people aren't just protecting their own assets as individuals, but sending a message to banks and politicians as a collective. It might also lead the City to think a bit harder about bonus season. Move Your Money campaigners will be looking to establish themselves as the "go to" people in the media to get a reaction to these rewards. The more disproportionate bonuses are, the more support for this campaign is going to grow.

Watching politicians respond to this campaign will be interesting. Labour will be justifiably jittery about coming out against any particular banks after the misrepresentation of Ed Miliband's conference speech. But they should publicly and whole-heartedly support the principle of giving more information to consumers to move their money where they see fit.

The problem with OccupyLSX was that people and politicians didn't want to be seen as supporting a bunch of niche activists. If the Move Your Money campaign can become a truly popular movement, it will be harder to ignore. In fitting contrast to the financial system, the incentives of this campaign are truly well aligned.

Rowenna Davis is a journalist and author of Tangled up in Blue: Blue Labour and the Struggle for Labour's Soul, published by Ruskin Publishing at £8.99. She is also a Labour councillor.

Rowenna Davis is Labour PPC for Southampton Itchen and a councillor for Peckham

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If there’s no booze or naked women, what’s the point of being a footballer?

Peter Crouch came out with one of the wittiest football lines. When asked what he thought he would have been but for football, he replied: “A virgin.”

At a professional league ground near you, the following conversation will be taking place. After an excellent morning training session, in which the players all worked hard, and didn’t wind up the assistant coach they all hate, or cut the crotch out of the new trousers belonging to the reserve goalie, the captain or some senior player will go into the manager’s office.

“Hi, gaffer. Just thought I’d let you know that we’ve booked the Salvation Hall. They’ll leave the table-tennis tables in place, so we’ll probably have a few games, as it’s the players’ Christmas party, OK?”

“FECKING CHRISTMAS PARTY!? I TOLD YOU NO CHRISTMAS PARTIES THIS YEAR. NOT AFTER LAST YEAR. GERROUT . . .”

So the captain has to cancel the booking – which was actually at the Salvation Go Go Gentlemen’s Club on the high street, plus the Saucy Sporty Strippers, who specialise in naked table tennis.

One of the attractions for youths, when they dream of being a footballer or a pop star, is not just imagining themselves number one in the Prem or number one in the hit parade, but all the girls who’ll be clambering for them. Young, thrusting politicians have similar fantasies. Alas, it doesn’t always work out.

Today, we have all these foreign managers and foreign players coming here, not pinching our women (they’re too busy for that), but bringing foreign customs about diet and drink and no sex at half-time. Rotters, ruining the simple pleasures of our brave British lads which they’ve enjoyed for over a century.

The tabloids recently went all pious when poor old Wayne Rooney was seen standing around drinking till the early hours at the England team hotel after their win over Scotland. He’d apparently been invited to a wedding that happened to be going on there. What I can’t understand is: why join a wedding party for total strangers? Nothing more boring than someone else’s wedding. Why didn’t he stay in the bar and get smashed?

Even odder was the behaviour of two other England stars, Adam Lallana and Jordan Henderson. They made a 220-mile round trip from their hotel in Hertfordshire to visit a strip club, For Your Eyes Only, in Bournemouth. Bournemouth! Don’t they have naked women in Herts? I thought one of the points of having all these millions – and a vast office staff employed by your agent – is that anything you want gets fixed for you. Why couldn’t dancing girls have been shuttled into another hotel down the road? Or even to the lads’ own hotel, dressed as French maids?

In the years when I travelled with the Spurs team, it was quite common in provincial towns, after a Saturday game, for players to pick up girls at a local club and share them out.

Like top pop stars, top clubs have fixers who can sort out most problems, and pleasures, as well as smart solicitors and willing police superintendents to clear up the mess afterwards.

The England players had a night off, so they weren’t breaking any rules, even though they were going to play Spain 48 hours later. It sounds like off-the-cuff, spontaneous, home-made fun. In Wayne’s case, he probably thought he was doing good, being approachable, as England captain.

Quite why the other two went to Bournemouth was eventually revealed by one of the tabloids. It is Lallana’s home town. He obviously said to Jordan Henderson, “Hey Hendo, I know a cool club. They always look after me. Quick, jump into my Bentley . . .”

They spent only two hours at the club. Henderson drank water. Lallana had a beer. Don’t call that much of a night out.

In the days of Jimmy Greaves, Tony Adams, Roy Keane, or Gazza in his pomp, they’d have been paralytic. It was common for players to arrive for training still drunk, not having been to bed.

Peter Crouch, the former England player, 6ft 7in, now on the fringes at Stoke, came out with one of the wittiest football lines. When asked what he thought he would have been but for football, he replied: “A virgin.”

Hunter Davies is a journalist, broadcaster and profilic author perhaps best known for writing about the Beatles. He is an ardent Tottenham fan and writes a regular column on football for the New Statesman.

This article first appeared in the 01 December 2016 issue of the New Statesman, Age of outrage