Davos Notebook

The ugly math of foreclosure

January 29, 2009

Stopping the housing crash is central to fixing the economy, and halting foreclosures would be a big step towards that, according to Ken Rosen from Berkeley, who is notable as being one of the economists who was suitably gloomy last year in Davos. Foreclosures cost 50-60 percent of the value of the mortgage whereas you might be able to keep someone in their house for 30 percent, he said. A house with a modified loan isn’t sold on, which further depresses house prices and errodes bank capital.

A climate deal: easier than trade?

January 29, 2009

Conventional wisdom has it that if the leaders of the world can’t agree on a round of negotiations to liberalise world trade then there’s no chance they will agree on measures to tackle climate change.

Davos participants mull economic crisis

By Reuters Staff
January 29, 2009

Two years ago businessmen and leaders coming to the World Economic Forum in snowy Davos were still betting on economic expansion.

U.S. – They’re skint, they’re frugal, get used to it

January 29, 2009

Good session on the “Frugal American,” an as yet undiscovered species that is coming to a global economy near you.

It’s never too late to blame Greenspan

January 29, 2009

Alan Greenspan hasn’t been chairman of the Fed for three years, but his policy mistakes keep paying dividends in the form of blame at this year’s World Economic Forum in Davos.

Davos Today – 29th January

By Reuters Staff
January 29, 2009

Watch interviews with top business and world leaders including the following:

    Andrei Kostin Gerard Lyons Jean-Claude Trichet George Soros Tom Glocer
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Day one of the Reuters live breakfast show at Davos

January 28, 2009

There’s no better way to start Davos than to see a string of top delegates breeze into your studios. On time. Happy to brave the cold in the early hours. Full of interesting comments and insight.

Even in crisis, NGOs pull no punches in Davos

January 28, 2009

Though a financial crisis and global recession have left many of the world’s biggest companies uncharacteristically humbled, that didn’t stop NGOs from taking shots at a few of them at the World Economic Forum.

Trust: the commodity in shortest supply

January 28, 2009

Where do I put my money?
What do I read?
Who do I listen to?
Who saw it coming?
Who made money from it?
Who will make money from it?
Who can I trust?
As Davos gets under way, my feeling from chatting with contacts and listening to conversations around me is that one thing the world economy is really suffering from right now is a crisis in trust.

All waiting for Putin

January 28, 2009

Near the VIP entrance of the congress hall here in the World Economic Forum in Davos, scores of delegates, press, aids, security guards are all waiting for the imminent arrival of Russian Prime Minister Vladimir Putin.