Bank goes bust, depositors lose money. Good

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 thoughts on “Bank goes bust, depositors lose money. Good”

  1. 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. 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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