FSCS: shake-up for savings safety net - Telegraph
The fact that the FSCS exists and is mentioned by the purveyors of dodgy products as a 'guarantee' of some sort encourages people to take risks they would not normally contemplate. When they find out it doesn't meet their expectations as promised by the politicians there will be a backlash.
Is such a compensation scheme the only way to deal with failures in the financial sector? I don't think so but nobody is listening.
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