In a second blow to confidence, falling equity prices have revealed a scandal in the split capital investment-trust industry.

ECONOMIST: The economy

In fact, this will be another blow for the whole financial services sector, following scandals over the selling not just of endowments, but also split capital investment trusts.

BBC: Investors left on the precipice

Some of the products peddled by fund managers, such as split-capital trusts, and now high-income bonds, which guaranteed income but not, alas, the return of the principal, have also been tainted by scandal.

ECONOMIST: Financial services