Another victim of the financial tsunami threatening to engulf the planet.
In February, a run on Northern Rock forced the Government to take it into public ownership and gave the ordinary man on the street his first insight into the kind of turmoil the American sub-prime selling scandal would ultimately have on the many UK financial establishments inextricably linked to it.
Even in February, when the Government, albeit belatedly, stepped into the breach, nobody could have imagined the impact that years of dodgy dealing in America would have as the sunshine days of low inflation, high growth and economic stability ended.
Now we know. Only too well.
Into this terrible mess came the Halifax, employers of 6,500 locally, who together with its partners at the Bank of Scotland fell foul of short selling, another unsavoury practice encouraged by the volatile stock market. The result sent shares into freefall and a takeover by Lloyds TSB that brings with it more feelings of vulnerability, worry and a future for many local people clouded with uncertainty.
Now our neighbours at the Bradford & Bingley become a victim because of its heavy involvement in the buy-to-let market.
At least on this occasion, unlike the Northern Rock affair, the Government has acted promptly to keep the company going and, most importantly of all, protect the poor souls who have poured their savings into it.
In America, because of huge reservations from many quarters, Congress has rejected a £400 million package to buy back the bad debt on mortgages that could never have been met; the catalyst for today's global troubles. The move was designed to return confidence to a shattered marketplace.
One can only pray the decision is reversed.
Back home, should the UK Government not quite have grasped the feeling on the street, then let us make it plain.
People are confused and worried. They do not know what to do for the best.
They do not know whether to sell their houses and tighten their belts or just tough it out. They see prices rising and disposable income disappearing. They worry mortgages will rise above what they can afford.
It is all well and good telling people not to panic, but that is easy to say unless your job, your home, your life as you know it hang in the balance.
Is it right the Government stepped into the Bradford & Bingley affair? Of course.
But there is only a finite amount of public funds. And this cannot keep happening.