Fear And Loathing In Davos

Author:
Updated:
Original:

Everybody's pissed off at everybody at the World Economic Forum. It's not the love fest it used to be. Not even humanity-lover Bono is showing up this year.
Here's a roundup:
Barclays President Robert Diamond would like to point out that everyone at the bank is "immensely proud" that the bank didn't take any direct money from any government anywhere in the world. A word of acknowledgment would be much appreciated, thank you.
"I think that what goes unnoticed is that the banks which stayed strong and were well managed through this are angry at the banks (that) had poor management (and) were allowed to have poor management and ineffective regulations," Diamond said.


Take that, all of you TARP-ed failures.
Meanwhile, George Soros -siding with his pal Roubini- is mad at Obama's proposals, saying he's not going far enough and the largest financial institutions may be "too big to fail" even under his plans to rein them in.
"Some of the banks will spin off investment banks that will still be too big to fail," Soros said.
On the other hand, Deutsche Bank CEO Josef Ackermann said the Obama plan is BS as it will hinder global economic growth.
"If you have fragmented, small players in the financial sector, meeting the requirements of global trade and production, you will have a dichotomy which is not going to work and would not be for the benefit of the real economy at the end," Ackermann said.

Finally, CEOs from around the world are mad at the US, and most specifically, Massachusetts, which kinda screwed things up.
One CEO of an Indian company suggested his country was increasingly confused about whether the U.S. still represented the bastion of capitalism or whether it is moving towards socialism.

Related