A couple days ago, amidst the rout in the global stock markets that have been plaguing us through the summer, one of the Managing Directors walked around the banking floor, and announced: “This is it boys, the summer of 2008 is repeating itself. Embrace the fun times, for you wouldn’t know how long it lasts”.

For the uninitiated, 2008 saw the closing down of bulge bracket investment banks Bear Stearns (bought over by JP Morgan) and Lehman Brothers as global markets were brought to their knees. Countless bankers were laid off in several rounds across the industry globally as the contagion spread. I remember the mood on the floor was quiet and sombre, bags were packed, desks were kept tidy. folks hung out hoping for the best, but fearing any phone calls, especially those whose caller ID displayed something along the lines of “meeting room [1]”. That probably meant goodbye . I remember …