Cat Fighting in Davos
If the Wall Street Journal is to be believed, there's at least a smidgen of justice in the world. Here's their latest report from Davos:
Not so long ago, financiers ruled the roost at the glitzy annual gathering of the global economic elite here in the Swiss Alps. At this year's gathering of the World Economic Forum, the unofficial theme seems to be, "First, kill all the bankers."
....The scorn poured on the industry at this year's get-together in the Swiss ski resort is a sign of a mounting international backlash against the financial sector. Popular anger about banks' role in the financial crisis, and their behavior in its aftermath, has spilled over to the world's elite business executives, politicians and regulators. Since gathering here Wednesday, they have been aiming sometimes bitter recriminations at the tainted masters of the banking universe.
Unfortunately, the most likely explanation for this isn't that Davos attendees are genuinely appalled by what bankers have done, but rather that they're appalled that bankers have managed to taint Davos itself, and by extension the rest of them. That's unforgivable. These are not people who like being mocked.
Still, even if this is just a bit of mega-millionaire cat fighting, it's better than nothing. At least the rest of us can enjoy the show for a bit.