No, this is not South Africa, where the election of Jacob Zuma as president of the ruling African National Congress on December 18th dealt a shattering blow to his rival, Thabo Mbeki.

ECONOMIST: Democracy in Africa

But perhaps what is most important about all of this is that it is another shattering blow to the reputation of the banking industry, at a time when that reputation - many would say - is already at rock bottom.

BBC: Barclays 'attempted to manipulate interest rates'