The news over the past few weeks has been overwhelming. Three major pillars of our financial and political establishment — Anglo American, Pick n Pay and the ANC — were shaken to the core.

The struggles of these eminent institutions were not surprising. Cracks in their operations appeared decades ago, but to paraphrase Ernest Hemingway on going bankrupt, their troubles were gradual and then sudden. They will all restructure and survive, and may even prosper, but recovery will be painful and costly...

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