The Antique Blogger | Matures With Age

I was reading through the finance section of the paper recently, and found an interesting piece on the turbulent few years of stockbroking company whose struggles led to a £1.4 million 'black hole'.

Imagine, a £1.4 million 'black hole'! Where did ALL that money go? Most of us get annoyed if we lose any small amount of money, get a £60 parking fine or have to pay a bank charge, but £1.4 million? It's unimaginable!

The company, Rowan Dartington were fined £511,000 by the Financial Services Authority for the mess-up, and some have pointed to record keeping problems plaguing the company, and the succession of managing directors coming and going from the company as leading to the huge losses.

Whatever led to it should be strongly investigated and regulated, even to a large stockbroking company that's a huge amount of money to have lost, and shouldn't be taken lightly.

Picture: hitthatswitch (Flickr)