A small number of savers who had more than £85,000 on deposit with Southsea Mortgages could lose the money after the lender was yesterday forced into insolvency by the authorities.
That’s the way to do it, get rid of that pesky moral hazard.
Now, let’s see which lefties insist that the depositors must be made whole shall we?
2 responses so far ↓
1 Frances Coppola // Jun 17, 2011 at 8:15 am
Totally agree, Tim. But this is only a little bank and there are only 14 depositors with more than the FSCS limit. If this was HSBC the story would be very different.
2 Matthew // Jun 17, 2011 at 8:59 am
I realise you are after a certain audience but it’s a slightly strange last remark. I don’t think 100% deposit insurance is a famous left-wing cause.
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