UK getting close to the next depression.

That wasn't the main problem.

If you have your money in a bank and they go bust you have the right to be compensated of a maximum of £30kGBP.

The only reason they went down hill so fast is because all the people taking their money out, if they left their money in the bank it would of continued to run well, it can easily be blamed upon the media.

But the credit crunch was caused by america not the UK, they where going down hill way before the UK was, and due to their businesses being operated in the UK as well it hit the UK hard, causing banks to become scared to lend money to each other.