The first story has been told in pedantic detail by the Financial Services Authority in its 450-page report on the failure of RBS. Today, the FSA released the first chapter of the second tale and painted an even more damning picture.

FORBES: The Financial Transactions Tax: But Why?

The trustee in the MF Global case filed a 174-page report outlining his investigation into the failure of MF Global.

FORBES: Another Report Blames Corzine In MF Global Failure, Are Criminal Charges On The Way This Time?

Last month, the Red Sox owners took out a full-page advert in the Boston Globe, apologising for the team's failure to reach the play-offs.

BBC: When baseball meets football: Boston and Liverpool