Does anyone remember before 2016? The year we had Brexit... The year Trump was voted into office? Does anyone recall the sheer shock when both campaigns won? I do. The complacency leading up to both was rife. And as the title says, complacency kills. We've seen something pretty drama.

First it was the Swiss National Bank exercising its prerogative. Next it was the government and its lockdowns. Now it's the fragility of the risk management procedure in the banks....