Banking Bill

We are living in extraordinary times now, but looking forward or backwards a little, is not the problem with total protection or the 100 per cent. guarantee of deposits up to £50,000 that it draws in the depositor's mind no account of risk at all? That is why people invested in Icesave and Northern Rock. They risked their life savings for an extra 0.5 per cent. a year. To go back to the point about moral hazard, surely there must be some consequence for them if that goes wrong. It is unfair to the well run, more conservative banks that the same guarantee is afforded to people who are prepared to take a risk.