Yes, the warning system has been in place for a while now. It isn't public info, so only the moderators and the members concerned see their points.
I'm saddened as well that we actually need such a system, but the truth of the matter is that it only takes a little push of the correct buttons, and everything we have worked for and nurtured here could dissolve into anarchy, which isn't a good environment for doing business.
In a ballgame, when someone hits you, and you hit back, do the referrees punish just the one who first threw a punch? No! In fact,
both players get punished.
The same rule apply here - if someone insults you, just put on a brave face and smile

in the knowledge that your attacker will soon get warning points. And if he's angry enough to keep doing it, who knows maybe he'll even get kicked out. Pretty soon you won't need to hear his BS.