Is the Leader of the House aware that during this time of acute Crisis in the Banking Sector, more of our constituents are moving deposits into the Post Office and into National Savings accounts?

Is the Leader of the House aware that during this time of acute Crisis in the Banking Sector, more of our constituents are moving deposits into the Post Office and into national savings accounts.

My Lords, does my noble friend agree that the demutualisation of building societies was a major contributory cause of the Crisis in the Banking Sector, that in most cases where greed motivated demutualisation the relevant demutualised societies collapsed, and that we now need to see the Government's promise put into practice so that we can re-establish a wide range of mutual societies to strengthen the regional base of our financial services?

That had nothing to do with the origins of the Crisis in the Banking Sector.

They skimmed over their own Government's part in the regulatory failures that led to the Banking Sector Crisis.