Yet, the uncomfortable fact remains that some of those who will be in Davos this week are widely blamed for having created the current crisis - not least because they so notably failed to predict it. Two years ago, during the peak of the credit boom in January 2007, the mood at Davos was so exuberant that private-equity players were lauded as the new stars. Even last January, optimism was high that the financial crisis was short-lived. And this year's event has already delivered one small embarrassment. The organisers have billed this week's meeting as "Shaping the Post-Crisis World", since they assumed until recently that the turmoil would be over by now. "It's a bit unfortunate, but maybe it is good to be positive," one official at the WEF observed last week. It is a sentiment that many at the Swiss resort might like to share.
The organisers have billed this week's meeting as "Shaping the Post-Crisis World", since they assumed until recently that the turmoil would be over by now. "It's a bit unfortunate, but maybe it is good to be positive," one official at the WEF observed last week. It is a sentiment that many at the Swiss resort might like to share.
