The World Economic Forum in Davos is like the Sundance Film Festival for business. There’s tons of press, free VIP goodie bags, egos, and a kernel of actual important developments.
Every year regulators and businesspersons share ideas and jockey to control the perception of the press. This year, bankers have untucked their tails as the worst of the economic crisis has passed. But regulators haven’t sobered up from the 21 shots of power they took at the bar when banks f-ed up the global economy and citizens of the world begged for order in the chaos.
This Bloomberg video offers a nice glimpse at how regulators and bankers clearly see a different future. On the one hand bankers see a healthier environment for more business activity, and on the other guys like Barney Frank sound like a school principal who just disciplined the senior class for trashing the gymnasium:
(Note: I’d really like to see people STOP asking Nouriel Roubini for his opinion. Honestly, his presence delegitimizes “important” talks in Davos. As we’ve proven many times (and so has Harvard Business Review, Financial Times, and Bloomberg themselves), the guy is merely a broken clock who was correct for one brief moment in time. We need more skilled thinkers to keep the global economy flourishing — not savvy PR people.)
Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter >>