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When a perfect storm met perfect greed

In the aftermath of the collapse of Scotland’s two biggest banks, some observers believe the country has weathered the worst of the fallout: in part one of a special three-day series, Simon Bain asks whether the fact that things aren’t as bad as we had been warned means they are getting better

It is barely a year since Scotland’s twin banking citadels came toppling down, threatening the foundations of the UK’s banking system and Scotland’s entire financial sector.