@just this once #19
Its not so much a bailout, more a bail in. It sets a potentially worrying precedent doesn't it? It might even play into the BoE's hands which has been dropping hints about negative interest rates for a while now in an attempt to stimulate spending.
Why would the middle classes want to run the risk of bailing out those who haven't saved by keeping excess cash on account and paying their High Street bank for the honour and running the risk of being bailed in by the State.. if they may as well spend it on that extension/holiday/new car instead?