What Chance Another Bank Bailout ?

[Canary42]

Hundreds of folk left destitute by bank failure. Will the adverse publcicity persuade the Government to bail them out with Taxpayers' money ?

It's a possibility surely ?

https://www.bbc.co.uk/news/business-47679192

[Old_Geezer]

Banks aren't for bailing out, they're for taking into public ownership as an act of charity. The people deserve a people's bank.

[EDDIE51]

The name gives it away, 'PLC' means Public Limited Company ! It only has to answer to its share holders ! If the Government 'bailed them out' it would mean any failing company would have to be bailed out as well !

[fiction-factory]

Yes, apologies PP- you are referring to the ad in Canary's link which I hadn't seen before and that suggests 8%pa over 3 years. I was going off what I'd heard a victim say on Money Box where she said she was fed up of low returns of 0.5% on her ISA and was attracted by the chance of 8%. Anyway, whilst I think the victims were not as diligent as they should have been there is clearly some lack of monitoring by FCA if these products are being sold in this way without the normal 'attitude to risk' surveys and compliance monitoring checks.

[ToraToraTora]

no chance, not a bank anyway, dodgy investment fund, paying high interest, caveat emptor, end of.

[ToraToraTora]

canary, I lost a tenner on the geegees last Saturday, gissa refund! Perlease!

[youngmafbog]

"government needs to crack down on the banks. Maybe there are just too many? "

Get with the times more Banking licences are being issued not less!

When will people learn (as Douglas said earlier) If it sounds too good to be true ....