So, why did it happen?

It may be 18 months on, but campaigners for former Bradford & Bingley shareholders are right to continue pressing for answers about the demise of a once-proud institution.

As well, that is, as seeking compensation for around a million shareholders whose holdings were wiped out when the mortgage business was nationalised and its savings arm sold off cheaply to Santander.

The Bradford & Bingley Investor Action Group raises a number of interesting points in its submission to the independent valuer, who is expected to rule by June on any pay-out.

Campaigners remain adamant that B&B was a viable business and that ministers over-reacted in September 2008. Past and present B&B bosses have told MPs that it was still a going concern.

Why keep Northern Rock intact and trading while B&B was carved up and its mortgage arm no longer allowed to trade?

Only a few days before, B&B had issued a press statement saying it was well-capitalised and fit for purpose. That may have been a brave front, but the bank had raised £400m through a share rights issue.

Shortly afterwards, the Government bailed out failing banks with £50 billion.

Ministers, the Bank of England and the Financial Services Authority have all refused to elaborate on the B&B decisions.

I think we all deserve to know more about how and why B&B was sent into oblivion.