News of a second bank in as many weeks running around with it's head up its own backside in panic as the Halifax Bank of Scotland goes off to round up £4b to keep it afloat. Last week it was the Royal Bank of Scotland going cap in hand to its investors to ask for £12b.
Things seem to be going from bad to worse for the money lenders and my initial cackling of "burn you bastards, burn" was on reflection a tad hasty.
Everyone who has ever been charged £35 for a letter to tell you that you have overdrawn on your overdraft or have had to pay at a cashpoint machine to withdraw your own money may be rejoicing also at the thought of their bank undergoing some karmic style financial suffering.
I would like to see the banking system collapse into some unpredictable bloody carnage as much as the next person who has spent far too many lunchtimes queuing and listening to god-awful bank music but of course, if the banks do fail it will not be the top people who will suffer. They will be OK.
There does seem to be a rumour that if your bank goes to the wall your mortgage, loan or debit card debt will be written off which of course is not true. It will just be taken over by another lender and the only difference you will see is another name at the top of your letters.
With only the first £31,000 of your savings guaranteed, anyone with savings over that amount could well be downsizing that retirement dream home in Spain to a one bedroom flat in Grimsby.
Yes, we want to see the banks and their pompous little managers getting a good old kicking in the goolies for how they have treated us and i have no sympathy for them so if you hear news that the place that you bank with is in trouble, you are OK if you have under £31,000 in your account. Alternatively, you can withdraw your money and start a run on the bank and really make it sweat because they have not the slightest compunction in looking out for number one and they would hang you out to dry in a second so don't feel sorry for the snivelling little swindlers.
Serves them right but remember the redundancies will be from the lower order, not the big earners who made such a hash of the situation in the first place.