Banking Institutions Will Run Into Solvency Problems?

The following article is a chilling read for bankers http://www.moneymarketing.co.uk/regulation/bank-ppi-costs-could-double-t... I have written many blog posts on payment protection insurance (PPI) miss-selling. If these predictions are correct I wonder if some of our banking institutions will run into solvency problems?

My concern is that the tax payer will foot the bill for this sorry episode. As ever where is the FSA on this, and why are they not promoting independent financial advisors for retail clients to take advice on their insurance requirements?

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