In what can only be described as the fit up of the year, the 'Supreme Court' has awarded the Banks victory over the OFT.
Only a few months ago the banks were largely seen as having given up by Legal Circles in this long running case. So there we have it the Courts have given British Banks 'Carte Blanche' to charge what they like in penalties. Because of the monopoly situation, you have nowhere else to go, as they all charge the same. If they screw up, Uncle Mervyn will give them £61Bn of your money on the quiet.
The Banks case seems to rest squarely on the fact they cannot afford to pay.
No Appeal allowed.
People power nil Banks & the State win every time.
OH UPDATE: This is it. This is the straw that will break the camels back. Expect RIOTS. Close to a million people have just been told to shut the fuck up and pay up thousands each to bankers already wallowing in taxpayers cash.
In a three-day appeal in the House of Lords in June, the banks argued they would receive a "deluge of litigation" if the decision was made against them.
UPDATE 2: State can now take any amount of money from your bank account without a court order