With banks reeling from numerous scandals and the London financial district under intense pressure to reform itself, Mr Leeson said that unless punishments are increased traders will continue to run amok.
In his book The Origin of Species, Charles Darwin laid out his theory of evolution, in which he theorized that effective adaptation to their environments led certain organisms to survive and flourish, while those that did so less well fell by the wayside
The index is not perfect and the relationship does not hold in reality because of a number of factors, but it is useful in highlighting big anomalies. Thus on a light-hearted look, Big Macs are now cheapest in Hong Kong and cost less in London than Zurich
Klaus Bockstaller, Head of Global Emerging Markets at Pictet Asset Management, comments on the outlook for emerging markets and outlines Pictet’s asset allocation.
Remarkably, the Standard Life fund is just four years old, whereas Mr Woodford's stalwart opened for business in 1988.
With the Olympics, Paralympics and holidays, it can only be hoped that there is enough going on elsewhere to stop some of our more populist media from getting into a frenetic frenzy over the financial markets again.
The latest UK GDP data, which showed a quarterly fall of 0.7% in 2012Q2, were far worse than expected.