It's not just surveyors partying you know.
Michiel Rang, chief executive of ING's real estate finance division, began a panel discussion this afternoon by comparing today's financial meltdown to the Roman banking crisis of 33AD.
As I'm sure I don't need to tell you, this crisis saw bad fiscal policies lead to an excess of credit and dearth of capital, with resultant plunging land values.
Many aristocratic Roman families fell to ruin and shame, according to the historian Tacitus.
Rang's argument was that this proves that crises are perennial, and that what we are going through is not particularly exceptional.
I'd love to know what all you Latin economics scholars out there think.
NB: other events to occur in 33AD included the death, resurrection and ascension of Christ, leading to the founding of Christianity. Slow news year, then.
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