Bankers under fire in Davos
January 26, 2010
Nicolas Sarkozy Features American Chinese pianist Lang Lang, the classical musician most publicized of the planet. This is the opening show of the 40th annual forum, which begins Wednesday and ends January 31. The president will speak alone for an hour on the future of capitalism and the new global governance. And as Davos likes nothing better than mixing political, business leaders, scientists and artists, will be followed by a recital of fifteen minutes of Lang Lang.
"What we hope is to rebalance the relationship between real economy and the financial world," said Klaus Schwab, founder and chairman of the forum since 1971. He acknowledged that he struggled to bring the French president and his offer to open discussions in 2010. Wen Jiabao, Chinese prime minister, Vladimir Putin and his Russian counterpart had shared the role last year.
"Rethink, redesign, rebuild"
This is not the first time that the host of the Elys?e opens the meeting station of Grisons. In 2005, Jacques Chirac delivered his speech via videoconference, the helicopter could not operate due to weather. He had exposed his tax on airline tickets to the fight against AIDS. His denunciation of the "global tax evasion" (sic) had caused some laughter in the audience low fee payday loans . The 1,400 business leaders expected Tuesday they will be more inclined to follow Nicolas Sarkozy's proposals for regulation? "Something is fundamentally not in the financial sector," admits Klaus Schwab, presenting nearly 200 seminars Forum 2010, whose official motto is "Rethink, redesign, rebuild."
After almost abandoned the forum in 2009, bankers are more expected this year. The owners of Bank of America, Barclays, Societe Generale and Deutsche Bank will be there. Morgan Stanley, JPMorgan and Goldman Sachs have sent their numbers 2 or 3. Challenged by recent proposals for revolutionary reforms of Barack Obama, financiers can interact with the cream of regulators, Jean-Claude Trichet, the ECB president, Mario Draghi, Chairman Financial Stability through Zhu Min, vice-governor of the People's Bank of China, regarded as his real "thinker", not to mention Dominique Strauss-Kahn, the IMF Managing Director.
Much of the finance ministers of the G20 is announced, while the U.S. administration will be represented by Lawrence Summers, the director of the National Economic Council of the White House.
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