Tell that to the shareholders of the following list, and see what response you get:
October 9, 2007 Netherlands ABN AMRO February 22, 2008 United Kingdom Northern Rock April 1, 2008 United States Bear Stearns, New York City June 7, 2008 United Kingdom Catholic Building Society July 1, 2008 United States Countrywide Financial, Calabasas, California July 14, 2008 United Kingdom Alliance & Leicester August 26, 2008 Denmark Roskilde Bank September 7, 2008 United States Fannie Mae and Freddie Mac September 8, 2008 United Kingdom Derbyshire Building Society September 8, 2008 United Kingdom Cheshire Building Society September 14, 2008 United States Merrill Lynch, New York City September 16, 2008 United States American International Group, New York City September 17, 2008 - United States Lehman Brothers, New York City B September 18, 2008 United Kingdom HBOS September 26, 2008 United States Washington Mutual, Seattle, Washington September 26, 2008 United States Lehman BrothersC September 28, 2008 United Kingdom Bradford & BingleyD Spain Grupo Santander (Savings Liabilities) Diversified financial services September 28, 2008 Belgium Netherlands Luxembourg Fortis France BNP Paribas (Belgian and Luxembourg assets) Diversified financial services September 30, 2008 Belgium Dexia October 3, 2008 United States Wachovia, Charlotte, North Carolina October 7, 2008 Iceland Landsbanki October 8, 2008 Iceland Glitnir October 9, 2008 Iceland Kaupthing Bank October 9, 2008 Australia BankWest (subsidiary of HBOS) October 13, 2008 United States Sovereign Bank, Wyomissing, Pennsylvania October 13, 2008 United Kingdom Royal Bank of Scotland Group (up to 81.14% Bought) October 13, 2008 United Kingdom HBOS (up to 43.5% Bought) October 13, 2008 United Kingdom Lloyds TSB (up to 43.5% Bought) October 17, 2008 Switzerland UBS October 22, 2008 United Kingdom Barnsley Building Society October 24, 2008 United States National City Bank, Cleveland, Ohio October 24, 2008 United States Commerce Bancorp, Cherry Hill, New Jersey November 4, 2008 United Kingdom Scarborough Building Society November 8, 2008 Latvia Parex Bank (51% controlling interest) November 23, 2008 United States Citigroup, New York City January 10, 2009 United States IndyMac Federal Bank January 15, 2009 Republic of Ireland Anglo Irish Bank February 3, 2009 Kazakhstan BTA Bank February 3, 2009 Kazakhstan Alliance Bank February 21, 2009 Antigua and Barbuda Bank of Antigua March 9, 2009 Iceland Straumur Investment Bank March 9, 2009 United Kingdom Dunfermline Building Society United Kingdom Nationwide Building Society (savings, residential mortgages, branch network) Building Society March 29, 2009 Spain Caja de Ahorros Castilla La Mancha December 18, 2009 Philippines Philippine American Life and General Insurance Company February 24, 2010 United Kingdom Chesham Building Society (100% Bought) May 24, 2010 Spain CajaSur October 31, 2011 United States MF Global May 25, 2012 Spain Bankia
Then take a look at the Bank of Cyprus et al and ask the depositors the same question...
