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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A father’s murderous rage, the first victims of mass killers and Trump’s phantom campaign

From the family courts to the US election campaigns.

On 21 June, Ben Butler was found guilty of murdering his six-year-old daughter, Ellie. She had head injuries that looked like she’d been in a car crash, according to the pathologist, possibly the result of being thrown against a wall. Her mother, Jennie Gray, 36, was found guilty of perverting the course of justice, placing a fake 999 call after the girl was already dead.

When the trial first started, I clicked on a link and saw a picture of Ben and Ellie. My heart started pounding. I recognised them: as a baby, Ellie had been taken away from Butler and Gray (who were separated) after social services suggested he had been shaking her. He had been convicted of abuse but the conviction was overturned on appeal. So then he wanted his daughter back.

That’s when I spoke to him. He had approached the Daily Mail, where I then worked, to tell his story: a father unjustly separated from his beloved child by uncaring bureaucracy. I sent a writer to interview him and he gave her the full works, painting himself as a father victimised by a court system that despises men and casually breaks up families on the say-so of faceless council apparatchiks.

The Mail didn’t run the story; I suspect that Butler and Gray, being separated, didn’t seem sufficiently sympathetic. I had to tell him. He raged down the phone at me with a vigour I can remember half a decade later. Yet here’s the rub. I went away thinking: “Well, I’d be pretty angry if I was falsely ­accused and my child was taken away from me.” How can you distinguish the legitimate anger of a man who suffered a miscarriage of justice from the hair-trigger rage of a violent, controlling abuser?

In 2012, a family court judge believed in the first version of Ben Butler. Eleven months after her father regained custody of her, Ellie Butler was dead.

 

Red flags

Social workers and judges will never get it right 100 per cent of the time, but there does seem to be one “red flag” that was downplayed in Ben Butler’s history. In 2005, he pleaded guilty to assaulting his ex-girlfriend Hannah Hillman after throttling her outside a nightclub. He also accepted a caution for beating her up outside a pub in Croydon. (He had other convictions for violence.) The family judge knew this.

Butler also battered Jennie Gray. As an accessory to his crime, she will attract little sympathy – her parents disowned her after Ellie’s death – and it is hard to see how any mother could choose a violent brute over her own child. However, even if we cannot excuse her behaviour, we need to understand why she didn’t leave: what “coercive control” means in practice. We also need to fight the perception that domestic violence is somehow different from “real” violence. It’s not; it’s just easier to get away with.

 

Shooter stats

On the same theme, it was no surprise to learn that the Orlando gunman who killed 49 people at a gay club had beaten up his ex-wife. Everytown for Gun Safety, a gun control group, looked at FBI data on mass killings and found that 16 per cent of attackers had previously been charged with domestic violence, and 57 per cent of the killings included a family member. The Sandy Hook gunman’s first victim was his mother.

 

Paper candidate

Does Donald Trump’s presidential campaign exist if he is not on television saying something appalling about minorities? On 20 June, his campaign manager Corey Lew­andowski quit (or was pushed out). The news was broken to the media by Trump’s 27-year-old chief press officer, Hope Hicks. She was talent-spotted by The Donald after working for his daughter Ivanka, and had never even volunteered on a campaign before, never mind orchestrated national media coverage for a presidential candidate.

At least there aren’t that many staffers for her to keep in line. The online magazine Slate’s Jamelle Bouie reported that Trump currently has 30 staffers nationwide. Three-zero. By contrast, Bouie writes, “Team Clinton has hired 50 people in Ohio alone.” Trump has also spent a big fat zero on advertising in swing states – though he would argue his appearances on 24-hour news channels and Twitter are all the advertising he needs. And he has only $1.3m in his campaign war chest (Clinton has $42.5m).

It feels as though Trump’s big orange visage is the facial equivalent of a Potemkin village: there’s nothing behind the façade.

 

Divided Johnsons

Oh, to be a fly on the wall at the Johnson family Christmas celebrations. As Boris made much of his late conversion to Leave, the rest of the clan – his sister Rachel, father Stanley and brothers, Leo and Jo – all declared for Remain. Truly, another great British institution torn apart by the referendum.

 

Grrr-eat revelations

The highlight of my week has been a friend’s Facebook thread where she asked everyone to share a surprising true fact about themselves. They were universally amazing, from suffering a cardiac arrest during a job interview to being bitten by a tiger. I highly recommend repeating the experience with your own friends. Who knows what you’ll find out? (PS: If it’s juicy, let me know.)

Peter Wilby is away

Helen Lewis is deputy editor of the New Statesman. She has presented BBC Radio 4’s Week in Westminster and is a regular panellist on BBC1’s Sunday Politics.

This article first appeared in the 23 June 2016 issue of the New Statesman, Divided Britain