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
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.
However, while the newly elected president may have been sworn in and taken over the office of head of state, deep uncertainty lingers over how stable the political environment will remain.