Re: So are we saying... @Afernie
Which is fine, but a bank, a commercial concern that is in business to make a profit should be paying for that oversight itself, just like they pay accountants to conduct audits on their financial operations. Why should we pay for government to carry out a security audit on banks to allow twats like David Cameron to be seen to be 'doing something?'
The counterargument is that should these institutions fail then the cost for you and I would be huge, just as it was in the 2007–2008 financial crisis. So we're paying for preventative care in order to reduce total expected lifetime costs.
I guess the fact that we keep paying at all comes down to a resigned acceptance that the industry is a net benefit rather than a net cost in a country with limited natural resources and no significant manufacturing base. Not the healthiest position to be in but there it is.