It is not sophisticated tax avoidance, or financial engineering of the sort - arguably - that too many banks and bankers have indulged in.

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Most business school courses focus on high-level topics like financial engineering or venture-capital funding.

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Most of the young'uns are graduate-school educated and made their piles through financial engineering or mastering the art of Internet commerce.

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It will also be seen as progress that the 250bn euros left in the kitty of the bailout fund, the European Financial Stability Facility, is to be multiplied four or five times by the use of financial engineering - which President Sarkozy hopes will see the China involved in rescuing highly indebted countries like Italy.

BBC: Eurozone: Now for the hard work

So, as I said yesterday, the eurozone's leaders have an uncomfortable choice between maintaining the EFSF's current resources - deemed as meagre by many - at the new lower AA plus rating, and finally giving up on the idea of leveraging or boosting the fund (because that kind of financial engineering is harder in the absence of an AAA).

BBC: After downgrades, all eyes on ECB

And there are more women working in such tech companies: but generally in those financial management or marketing roles rather than in the hard engineering side.

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It stimulates management to use financial engineering, such as off balance sheet financing or layering earnings through acquisitions and other games.

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The boom in derivatives was one of those moments when financial engineering raced ahead of back offices and risk-management departments, leaving them struggling to value or account for their holdings.

ECONOMIST: Securitisation