Building societies are greedy
There's a program on TV just now titled "pure greed" it goes into detail of how the building societies granted loans to people knowing they'd have difficulty paying them back, the banks gave the societies the cash because some had not been informed fully as to the financial circumstances of the borrowers.
This has now been fixed, legislation has been passed so banks have to scrutinise every loan before it's granted, question, . . why did banks have to be legislated in this way ?