Fining Yourself

Can someone please explain to me the logic of fining the Royal Bank of Scotland? The bank has been undertaking some troublesome practices again.  The Financial Conduct Authority has found that more than half of the customers that the bank advised about mortgages, debt consolidation and the affordability of prospective mortgages were given the wrong advice. Presumably the advice was wrong for the customers but not wrong for the bank, and so the FCA has fined the bank £20.7 million with a discount of 30% if the banks pays the fine promptly.  Continue reading


The herd instinct is an instinct that drives animals to huddle together for protection. There is safety in umbers but not invariably. However, the very protection that exists in large numbers can also lead to dangerous and foolish behaviour. The herd of buffalo stand still waiting for slaughter after their leader is shot, because he has not moved and so the whole herd is wiped out by hunters. The lemmings leap, following the leader into the sea and all die. Continue reading