17 banks being sued for crooks by US Govmt - mine included. Should I be worried?

2sides2everystory

The overnight international news tells us that this weekend's main financial story for tomorrow's Sunday's might be the fact that an agency of the US government (not sure which one) is to sue 17 banks for misleading other players (I think that probably included you and me one way or the other) about the worth of cråppy mortgage loan books which it says these 17 seem to have presented as something more gold-plated.

The allegations includes some names we know in the UK.

Should we forgive these names on the basis they've had a bad three or four years of being tarred with a mucky brush?

Should we be worried?

Should their shareholders be worried come Monday morning early? Isn't that likely to include us again??

jonesMUFCforever

No more worried today than last week or year which if you have invested in bank shares you have lost a large % of its value.

It will have no effect whatsover on the running of any UK bank account and if you have savings there is a guarantee of £85k per person to fall back on in the event of a bank failure.