Bye Bye Banks

It is possible now that all the major British banks may be sued for trillions over the LIBOR scandal, pushing them all into bankruptcy. Bankruptcy will probably happen sooner than this however because people will start withdrawing money from banks as soon as panic sets in and people turn to peer to peer lending, now an unknown quantity, which the banks will have no defence against.
The US and UK banks are the safest western banks. If they are pushed overthere may be no way that the Eurozone can pull or be pulled out of the mess they have created.
Looks set to be bad times for the next ten or twenty years.