SIR – None of us can begin to grasp just how these last few dreadful financial days will in the end hit us.

Gloom and doom is everywhere we look but so far it does not seem to have hit our pockets. Except for those who have fixed-rate mortgages, have gambled on shares or have private pensions.

We have yet to hit rockbottom.

And what is worse, they (the Government, regulating agencies and too many financial commentators) have just let it all happen.

The first warnings started coming in more than two years ago. The knee-jerks have finally kicked in. Too late.

As for we income and council taxpayers our future has been put in jeopardy by Gordon Brown’s undemocratic decision to give hundreds of billions of pounds of our money to try to salvage this almighty mess that he, once Mr Prudence, and too many others have landed us in.

Even if this works, and I very much doubt it will, we shall be paying for the greed that has driven our banks, and some of us, for the last two decades.

What a legacy to leave our children and grandchildren. The sins of their parents.

LUKE ALBARIN,

Worcester.