All clad in gold – with a sweeping golden cloak, and vast golden crown – the king entered and moved among his people. Their response was immediate – some fell to their knees, while others prostrated themselves in front of him. With immense grandeur, the king raised his arms to salute the gods who had, most assuredly, appointed him to this earthly role.

Is this, I wonder, how board meetings at Citigroup and Merrill Lynch used to start? Both banks have just committed regicide, kicking out the imperial leader who had, until a few weeks ago, dominated the scene.