Prudence was a nice lassie, good home, well respected around town.

Then she got seduced by the bright lights of London. She fell into bad company and was turned out onto the streets of Westminster by her pimp, a certain Gordon Brown, a.k.a. The Chancellor.

Gordie had her take off her native homespun and draped her in his Golden Rules.

Events of the recent week have rent the Golden Rules assunder, the lassie is threadbare, destitute and needs to come home to Scotland.

Home to the bossom of her ain folk, to be nutured, restored to rude health and become the pillar of society that she once was.

Scotland needs Prudence.

Prudence was the core value of our Banking system when Scottish Banks and bankers mattered.

Scottish Banks and bankers can matter again.

Yesterday's The Scotsman has an analysis piece "SNP case for independence dealt a double blow as 'arc of prosperity' falters."

"The news from Iceland has been a catastrophe for those who believe in an independent Scotland as a serious viable entity. For starters, there is the situation with Scottish Councils which have more than £35 million tied up in Iceland's now frozen banks".

The failure of the Icelandic banks highlights the need for prudent banking regulations. It has nothing whatever to do with the viability of an independent Scotland.

Banks in Scotland operate under a charter granted by the Scottish Government. It is up to the government of the day to ensure that the banks are acting in the interests of Scotland. The Bank of Scotland and The Royal Bank of Scotland have not been doing so for the past ten years.

The banks exist on the high streets of Scotland because we give them the authority to be there. We must insist that they are providing the banking services that we need.

The banks have to be responsible contributors to our society.

Their role is to take surplus cash from Scottish institutions, businesses and individuals and provide loans to other institutions, businesses and individuals who want to invest in the infrastructure and prosperity of Scotland.

What were the Scottish Councils doing investing in Icelandic banks?

No doubt responding to the unrealistic rates of return on offer. The usual caveat applies: if it looks too good to be true, it probably is.

Scottish institutions, in particular Scottish Councils have a responsibility to deal with Scottish banks so that the money can be reinvested in Scotland.

Let's rehabilitate Prudence.

Let's make Scottish banks and Scottish commerce objects of our collective pride.

We need The Bank of Scotland and The Royal Bank of Scotland to be the National banks of Scotland once more.

Not the International jokes that they have become.