Banks to pay upfront into a compensation scheme

The most important thing is that retail depositors must be 100% protected. They must know they are protected. Lack of confidence would mean that means that future runs on individual banks will continue. I cannot imagine that with the authorities record for loosing electronic data that the confidential details they share with the banks would be safe from both the media and criminals. This also aplies to any future clandestine financial support given.

Our astute press at least would be on to the case of a troubled bank very quickly. Diddly Do, Liverpool, since the banks all say they want a capitalist system, then if a bank fails, let their customers lose their money too. That way, people might be extra careful to chose which bank they put their money in. it would be a good safeguard against any reckless bank. its time we privatise the loss as well as the gains.

anthony wong, london , uk The British have a reputation of being able to muddle through their problems. The time is running out on this one - and I daresay it will cost the taxpayer in the long run.