When Customer Rebellion Becomes Open Revolution

[Renew Deal]

What if your business isn't just fundamentally ill-equipped to survive and thrive in the 21st century — but is actually unequipped for it?

Indulge me for a paragraph, if you will. Imagine that there was a country in which bailed-out bankers announced extravagant bonuses. OK, that part's eminently realistic — even mundane. But then imagine that people (not activists, or even dreadlocked sign-waving hippies — just regular folks) began to express their dismay, anger, even outrage, everywhere from Twitter to the local bar, and that served as the spark for a self-organizing movement. And because people had the courage, self-belief and just plain orneriness to self-organize, their parliament was forced to do what just mere months ago might have been unthinkable: to tax those bailed-out bankers' bonuses at 100%. And not just going forward — but retroactively, since the beginning of the crisis. Poof: kiss that fleet of supercars, that fourth vacation home in Bermuda, and that closetful of handmade Swiss watches goodbye.

The above is no idealistic dream: in its broad contours, that's http://www.guardian.co.uk/business/2011/mar/27/dutch-bankers-bonuses-axed-by-people-power">pretty much what's happening in Holland (psst — someone tell the Dutch that banks probably need society a lot more than society needs banks). This was no mere "consumer revolt." It was open rebellion by the people formerly known as consumers. Far from "voting with their wallets" or their "feet" — often impossible in an economy chock-a-block full of cushy, cozy oligopolies — people decided to take collective action of a very different kind: as citizens of a vibrant society, not merely as mute, hapless "consumers" of mass-produced junk.
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http://blogs.hbr.org/haque/2011/04/when_customer_rebellion_become.html

Dutch bankers' bonuses axed by people power

Britain has a rival when it comes to bashing bankers. After a furious row over pay packages at Amsterdam-based ING in which thousands of customers threatened to make mass withdrawals, the Netherlands is now vying for the title of Europe's most bonus-hating country.

A growing Dutch political storm could end with a blanket ban on bonuses to financiers who work for institutions bailed out by the taxpayer.

ING customers mobilised on Twitter and other social networks to protest at bonuses paid to bosses at the bank, one of the biggest in the country. The threat of direct action raised the spectre of a partial run on ING, terrifying the Dutch establishment. Fred Polhout, union organiser at the bank, says: "People were outraged. We heard about the bloated sums being paid again in the City and in New York; but suddenly the issue exploded on our own front door."
<snip>

Now the Netherlands is going through a painful period of introspection and soul-searching. Politicians have voted to implement a 100% retrospective tax on all bonuses paid to executives at institutions that received state aid as a result of the financial crisis. In other words, no banker should get a bonus until the debt is cleared, and they should return payments made since 2008.
<snip>

http://www.guardian.co.uk/business/2011/mar/27/dutch-bankers-bonuses-axed-by-people-power

[xchrom]

1. recommend

[hobbit709]

2. To paraphrase Shakespeare.

"The first thing we do is kill all the banksters."

[Shandris]

5. "What is scum?"

"Well Tom, that's bad types. Politicians, bankers, cattle-kings... Scum... "

Young Guns 2

[liberal life]

7. someone started a thread on DU @ what u would do if you only had one month to live?

thought I would get in trouble for suggesting this, but since Shakespeare did :toast:




http://fucorporatemedia.com/

[Ilsa]

3. K&R. This is what our policy needs to be. nt

[dixiegrrrrl]

4. I wonder how many people reccing this bank at one of the big banks?

[Betty Karlson]

6. But, here is the sad thing:

Even though a parliamentary MAJORITY voted to implement this 100% surtax, it won't become the law of the land. Within 24 hours, the government retaliated by saying: "This motion will not be carried out."

The only way to make this motion into law is by sending away one or more ministers (or the entire cabinet) dealing with finance and the economy, and hope the government takes the hint. But that won't happen as the Defense Minister is already under threat (for incompetence) and because the Minister of Economic Affairs is under fire for his support of nuclear energy. The governement of neo-liberals, neo-conservatives, and neo-fascists won't want a portfolio crisis at this juncture, as it would inevitably end with new elections (and the majority in parliament is 1, and the opninion polls are showing quite some losses for the neo-conservative CDA.)

So no law.

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edit:

And now for the good news: the banksters were so frightened by the customer revolt that even with the government refusing to carry out the will of the people, the banksters have. 100% of the bonuses will be returned by the banksters. That is 1 0 0 percent.

[ooglymoogly]

8. Meanwhile in this country brazenly being looted, the people sleep while the band plays on.

[Initech]

9. I love this, we should do this here, but sadly the teabaggers are in charge.

[Liberty Belle]

10. Thanks, this gives new meaning to the term "Dutch treat."