Bank scam fines to pass £60bn. That's not including the cost of global collapse, of course!

SOURCE DAILY MAIL: Britain's biggest banks face further £19bn of fines and charges to pay for financial scandals

The UK’s ‘big four’ banks – HSBC, Barclays, Lloyds Banking Group and Royal Bank of Scotland – have already racked up a £42billion bill in the UK over the last five years. This represents 88 per cent of the industry wide total of £48billion in charges faced by 13 banks and building societies in Britain. S&P said it now expects the UK’s four biggest lenders to face further penalties in 2015 and 2016 of £19billion – taking the total for the big four to £61billion. The bill has been driven by the mis-selling of payment protection insurance (PPI) as well as interest rate hedging products to small and medium-sized businesses. ‘We think that conduct and litigation charges are now a way of life for the UK banking industry,’ said S&P in the report.

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