Davos Notebook

Italian CEO says retail banks need time to adapt

January 30, 2010

Yesterday I spoke to Antonio Vigni, CEO of Siena-based Banca Monte dei Paschi di Siena, the world’s oldest bank. Below are two video clips of Vigni answering questions on lending in Italy and the hot topic of regulation.

Risk Takers Anonymous

January 31, 2009

An eminent scientist who studies the brain and economics thinks that the financial industry in essence became addicted and insensitive to both risk and reward.

from James Saft:

Shocker – Davosians vote against more regulation

January 28, 2009

Duncan Niederauer, chief exec of NYSE Euronext, told a panel here at Davos that rather than inventing a whole host of new regulations, we'd be better off focusing on existing means of bringing order to markets, specifically taking a page from the exchanges books by having central clearing and more price transparancy for derivatives and off-exchange structured products. I think he's actually got a great point about clearing and better price information, but I can't see this as being anywhere near bringing regulation up to scratch.

from James Saft:

Stephen Schwarzman’s hair of the dog

January 28, 2009

jimsaftcolumnSo what is Blackstone Group chairman Stephen Schwarzman's prescription for solving the banking crisis?