The festivities have begun in Davos, Switzerland, where the annual meeting of the World Economic Forum takes place each year. Chinese Premier Wen Jiabao gave a speech. So did Russian Premier Vladimir Putin (calling the current financial crisis the result of a perfect storm).
You’d think this would be one of the more important meetings in WEF history, but apparently, while total attendance is at a record high, the number of major bank CEOs—i.e. the people who got us into this mess—is down:
But in the banking field, this year’s turnout among major CEOs is thinner than usual. By not showing up, senior executives may be avoiding an uncomfortable spotlight and winning points with politicians. But it isn’t always good business, bankers familiar with the Davos event say.
“I think it’s a mistake from a business perspective,” says one senior banker who had been scheduled to appear.
Um, yeah.
Wall Street Journal: Barclays Chiefs Join Growing List of Davos No-Shows
(photo courtesy of aluchsinger77)
It’s in the hardest times that people’s true colors come through. Those who routinely take shortcuts decide to cheat, while authentic leaders roll up their sleeves, don their hardhats, and begin to dig through the rock. 
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