Analyst Warns of 2015 Bank Crisis Amid ‘Upbeat’ Davos

[marmar]

Jan. 31 (Bloomberg) -- As politicians, executives and financiers networked at parties and panels last week in Davos, Switzerland, Barrie Wilkinson was in a nearby hotel, warning that a 2015 financial catastrophe may be looming.

“The fundamentals haven’t been addressed at all,” Wilkinson, a London-based partner at consulting firm Oliver Wyman, said in an interview at the Hotel Morosani Schweizerhof. “The things that caused the previous crisis -- loose monetary policy and trade imbalances -- they’re actually bigger now than they were then.”

In the caste system of the World Economic Forum’s annual event in the Swiss ski resort, Wilkinson was at a bottom rung, with an identification badge that denied him access to most sessions and soirees. His message clashed with the optimistic tone of many at the center of the meeting, who were eager to emphasize the progress made after two years of hand-wringing in the wake of the 2008 financial crisis.

“The systemic reforms that have been accomplished are significant,” Canadian Finance Minister Jim Flaherty said as he left a private meeting with finance company chief executive officers on Jan. 29. “We need to communicate better that financial institutions globally are operating on a very different basis today, that they are operating with higher capital and are better regulated.” ..............(more)

The complete piece is at: http://noir.bloomberg.com/apps/news?pid=20601109&sid=aFS_rMMEjqHw&pos=10

[bluestateguy]

1. A great big Pow Wow for the establishmentarians

and we weren't invited

[Disintermedia8]

2. The conservatives have their rendez-vous with the Koch suckers

and the neoliberals have their Davos. We The People have both those groups in our sights and the dominance they have held as self appointed elites over people for so long is beginning to end. Remember, when a system collapses, it does so a a pace much more rapid than people believe.