I just find it laughable that RBS is effectively admitting their understanding of risk management is very low indeed. That their organisation didn't mitigate against the risk of subprime mortgage defaults that would turn one of their main assets into a valueless piece of paper; and yet close down accounts of Smarkets without much of an assessment.

I'm not a risk taker by nature, and Smarket's approach to mitigating exposure/risks is an interesting, yet soundly logical. Bailed out banks like RBS/Natwest can learn a thing or two from Smarkets of how to resposibly manage risk.