Socialist Worker

The bank that very quietly went bust

Issue No. 2130

London Scottish Bank is bust. The bank specialised in lending money to people with poor credit, as well as running a door-to-door debt collection business.

New Labour has guaranteed all the savings in the bank – including those of the 600 customers with £50,000 or more deposited.

There is even a helpline to help them get their compensation.

In contrast, for the thousands of people who are now worried about their home and what to do when the debt collector calls, there is a strange silence.

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Tue 2 Dec 2008, 18:43 GMT
Issue No. 2130
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