What is the Devil really wearing?

As I watched Fabulous Fabrice Tourre and his Goldman colleagues squirming in front of a gallery of Senators, media and mad as hell investors who had lost it all, I wondered how do you decide what to wear at these sorts of occasions? Surely not a bespoke cashmere and silk Brioni suit, Turnbull and Asser shirt paired with a Stefano Ricci tie? I’m also guessing he kept the John Lobbs in the closet in case he put his foot in it. While you can’t tell from the images exactly who and what they are wearing, it is clear they were told to keep it simple and low key. The guidelines would have been: white shirt, red (or dark blue) tie, dark suit – but nothing that looks too flashy and definitely NO braces, stripped shirts, French cuffs or flashy cufflinks. I did note that Monsieur Tourre wore a red white and blue stripped tie – but I wondered whether that was more a signal of his protest than patriotism (the stars and stripes being the reference to the American flag). Ladies, what do you wear when you are about to enter the fray?