Building Societies - got nothing - now complaining

Milarky

..out of the FSCS, that is.
Fury as societies foot bill for Icelandic folly


In today's Guardian

Choice quote:

The government has made loans totalling almost £20bn to the Financial Services Compensation Scheme (FSCS) in recent months so it could make payouts to customers of Icesave and the like, and is charging interest on these.

So the FSCS is 'clobbered' with the debt on which the government is charging interest as well[can anyone confirm if this is still '12%' interest as per the bank bail out money?]It's nice that people with accounts in Iceland got paid out their due but it is being made (in part) up by the BS movement. So if this leads to BS sector decline (and them all being sucked into Nationwide) that would be one of the uninteded consequences of Iceland's default, no?