So you would have let Northern Rock collapse and the British banking system collapse with it? Millions of jobs would have been lost and our economy would have been crippled.
This is a joke, isn't it? No, it's just typical Harding hyperbole.
Companies go bust in various industries every day: they don't cause the collapse of their entire industry. How would one badly run bank going bankrupt cause the collapse of the entire British banking system?
Did the British banking system collapse when, for instance, Barings Bank went bust?