Some things are utterly depressing. And, no, for once, I am not talking about the banks but the news that several schools in the US have included lessons on the stock market in the curriculum.

US business television channel CNBC even sponsored a $25,000 (€24,008) stock portfolio contest for schoolchildren. The argument is that children can understand the concept of stock ownership from the age of five and catching them early might help create a shrewder cadre of US investor in the next generation.

Some thoughtful parents even give their offspring shares as birthday and Christmas presents, apparently.

Mind you, there is hope yet. No one has managed to figure out how to force youngsters to enjoy the wonders of profit and loss accounts.