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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Horgad who wrote (86304)	9/14/2007 9:57:07 AM
From: Tommaso	Read Replies (1) \| Respond to of 110194

Northern Rock Sinks: marketwatch.com

To: Horgad who wrote (86304)	9/14/2007 8:22:18 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 110194

Doesn't the UK have something like FDIC insurance? Not exactly. Deposits with all banks and building societies authorised to trade in the United Kindom by the Financial Services Authority (FSA) are covered by a statutory safety net called the Financial Services Compensation Scheme (FSCS). This can pay compensation up to: 100pc of the first £2,000 of losses per person and; 90pc of another £33,000 of losses per person. So the maximum compensation payment is £31,700 on losses of £35,000 or more. Since being set up in 2001, no bank has gone bust. .