You mean lending crap loads of money to everyone is a bad idea?
Struggling Britons, who are weighed down by loans and credit card debt, are going bust in record numbers.
HSBC today revealed that it has been forced to write-off £2 billion in the first half of this year - much of it loaned to British customers.
The bank pointed to rising levels of bankruptcy and the number of people reduced to taking out debt repayment plans.
HSBC today warned that 'serious' and 'excessive' levels of consumer debt in the UK was a growing issue.
I wonder if the UK has a negative savings rate like the US does...