Despondent financiers have been seen foraging for empty cardboard boxes in the delivery bay behind our local Sainsbury's.
What is inside those boxes they are carrying out of the temples of steel and glass?
Is it just sweaty trainers and photos of loved ones, or is there anything else of real value to be retrieved from our collapsing investment banking industry?
The fall has been coming for some time - at least ten years, in our opinion. What is the legacy?
Difficult to assess just now, but our list would include: outstanding analytical skills; innovative applications of high-order maths; highly available, resilient and powerful IT systems; truly global organisational models; and memories of a highly committed and energised way of working.
The people carrying cardboard boxes are walking out with considerable knowledge, skills and experience. Our bet is that these competencies will get a retread and be back on the road before long. But within a considerably less favourable regulatory, fiscal and macroeconomic environment, we suspect.
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If we follow Simon Jenkin's comments in the Guardian, http://www.guardian.co.uk/commentisfree/2008/sep/17/economics.banking
then the contents of these cardboard boxes should not be allowed to walk free - they may form key evidence at the scene of the crime - the crime being 'thieving' of the nation's finances ...
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