Should savers be protected from the ramifications of the Credit Crunch

Why should money people have put into building societies be protected at all?  After all aren’t may of them to blame for the banking system failure as much as anyone else.  Didn’t all the Bradford and Bingly depositors have rights too vote to lose their mutual status?  Didn’t they get an immediate benefit from the change?  Why should they be protected now?

The answer is because to do otherwise would shake confidence in the system worse than it is already.  That is the only reason.  They are as culpable in my eye as anyone else.

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