Wednesday, March 2, 2011

RBS big bailout by the Government - The Big Society Bail-In


We were walking towards the Angel Tube the other day when something caught out attention. For obvious reasons, there's always something happening in the open area outside the Royal Bank of Scotland (RBS) branch during weekends - be it canvasing for the Obama campaign (quite) some time back to Caribbean percussion assemble, from groups making political statements to local donation drives.

This time round, there were some police officers milling around looking a bit cross. A table was set up outside RBS with people distributing flyers, one of which was thrust into my hand. "Big Society Bail-In" it says on the handout.


With the taxpayers owning 84% of RBS, some people are naturally put off when RBS has declared a £950 million bonus pool despite suffering a loss of exceeding £1 billion last year (source: Mail Online). So the people behind UK Uncut have targeted RBS/Natwest to symbolically turn their branches into "schools, leisure centres, libraries and bus-routes - all things that the government want to privatise and cut".


With an incredulous look, I asked the lady who handed me the handout how they got into the RBS branch. "Well, we just walked in," she flashed me a triumphant smile and strode off to approach another passerby.

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