As the Davy scandal unfolded last week, culminating in Saturday’s departure of its CEO and deputy chair, it was impossible not to think of James Haughey. Haughey was an orphan and double-stroke victim. In 2014, he told the High Court that he was left in “financial ruin” by the stockbroker after he invested a €5 million inheritance in trading in contracts for difference (CFDs), a highly speculative and risky form of share dealing. Haughey was just 20 when he started trading with Davy in 2005. He told the court that he barely knew what CFDs were, but that they ultimately…

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