It was former Italian prime minister Silvio Berlusconi, when questioned about his vast financial interests in the media, who said: “If I, taking care of everyone’s interests, also take care of my own, you can’t talk about a conflict of interest.”

He would fit right in among Australia’s investment banking community, which increasingly resembles one of Berlusconi’s notorious bunga bunga parties, given everyone can’t help getting into bed with one another.