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Although the rules on election deposits have changed a little with the times (the figure has increased from £150 to £500), there has been a significant growth in the number of deposits lost at recent elections.
NEW YORK TIMES Big Depositors Seek a New Safety Net | On the first day of the New Year, $1.5 trillion of bank deposits lost an unlimited government guarantee granted during the financial crisis, and a scramble is under way to make sure customers do not withdraw large sums out of banks.
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Almost overnight, millions of Venezuelans — about 40percentt of whom do not have bank accounts in which the currency could be deposited — lost the ability to purchase even those goods still available on the market.
The deposit, lost if a candidate fails to get 5% of the vote, is £5,000 rather than the £500 stumped up by aspirants to Parliament (those in local elections pay no deposit) and official limits on what can be spent campaigning after October 8th are dauntingly high.
Moreover, contrary to popular belief, when a small bank fails, your taxes do not pay for the lost deposits (deposits are lost because that money has been loaned out to borrowers who cannot repay).
Get up, make another deposit, lose it again.
More tungsten in the deposits was lost in the use of the EFI than with IFI.
On Oct. 3, the Netherlands spent 16.8 billion euros ($23.5 billion) buying Fortis assets, including its stake in ABN Amro Holding, after customers withdrew deposits and lost confidence in it.
In the end Laiki is being closed down with its bond and shareholders facing huge losses and €4.2bn (£3.6bn) in deposits looking lost.
After the 1979 general election, where the NF received 0.6% of the vote, the party was nearly bankrupted when more than 300 candidates' deposits were lost.
More than $57 million in deposits was lost, dashing the hopes and dreams of the thousands who had trusted the bank.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com