Wednesday, 28 January 2009

No Glitzy Parties..... this year

If you ever wondered what the Bankers were up to while the Credit Bubble was inflating, this BBC report explains ....

Bob Diamond, president of Barclays Bank and head of its investment banking arm, has become the latest banker to decide not to go to the World Economic Forum.

The World Economic Forum, held at the Swiss ski resort of Davos is an annual event attended by politicians and business leaders.

It has gained a reputation for its glitzy parties.

Other Chief Executives who decided against attending at the last minute include Citigroup, Merrill Lynch and Goldman Sachs .

"Banking officials have to be concerned with appearances more than ever," said Howard Rubenstein, president of Rubenstein Associates. "They should avoid anything that appears super fancy or super rich, or thumbing their noses at taxpayers during a time of austerity."

Never mind. They will soon get back to business as usual, when they think we aren't looking again.

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