As we contemplate the approaching consistory to elect a successor to Benedict XVI, it is consoling to read about the one that elected Celestine IV in the thirteenth century as Holy Roman Emperor, Frederick, besieged Rome. Abusive guards herded ten Cardinals into a dilapidated room, without proper food or doctors.

Just before the 1974 crash, and again in the 2000s, young folk who were getting richer by the minute saw no reason to dress up or to look serious. Now, the dress-down phenomenon is starting to fade again. Handling other people’s savings is a serious matter, and those who do it should try to look their part.