Most of us are worried about job security, stagnant incomes, loss of pensions and benefits, lack of health insurance, home foreclosures. But the banksters are not most of us, and their worries are, well, on a different level. The big annual Versailles confab in Davos, Switzerland began this week, and some top banksters have told Bloomberg, "they think the biggest challenge for the industry is overcoming public anger about bonuses and compensation." Read more.
Leaders of some of the world’s biggest banks met today on the sidelines of the World Economic Forum in Davos, Switzerland, to plot ways to reassert their influence with regulators and governments.
Chief executive officers, including Bank of America Corp.’s Brian Moynihan and UBS AG’sOswald Gruebel, convened one week after U.S. President Barack Obama shocked financiers with plans that may force large banks to limit their size and curb investments in hedge funds and private equity.
The closed-door meeting, held down a hallway near the back entrance of the Davos conference center, aimed to prepare executives for another private gathering in Davos on Jan. 30 with top policy makers and regulators, including U.S. House Financial Services Committee Chairman Barney Frank.
Cry me a river.
Some are using veiled threats some are crying:
Stephen Schwarzman: Wall St. Bashing Will Make Banks 'Insecure' And Will Decrease Lending (VIDEO)
Schwarzman is the founder of Blackrock. I am tired of these idle threats. First, these fraudsters are not lending now. Many of them are still insolvent. And they still don't appreciate nor do they care about excessive risk because they know they are TBTF.
Break them up already, Please.
RebelCapitalist.com - Financial Information for the Rest of Us.
RebelCapitalist.com - Financial Information for the Rest of Us.
Hey Tony!
Glad to see you here and posting. Some of our best writers are under the gun with other obligations and in a lot of ways I'm having to carry the site in terms of content (which gets exhausting folks, not only do I have to put a complete sentence together, I'm trying like hell to make sure all of my detail ducks are correct!)
Just a note, always quote the relevant passage in a post and don't just link up a "Read this". You have to give a reason, a blockquote teaser on why we should read something.
I edited the post to put in the block buster, and frankly I'm really not surprised it's Frank in that closed door room. He talks a great game and in a very gerrymandered district, although he still looks like a real representative in comparison to the Senate Banking Committee!
Anywho, glad you're here, I'm repeatedly linking to your post on direct jobs as stimulus for reference.