» The Economist: Davos Overview
The Economist summarizes the World Economic Forum at Davos quite succinctly. My favorite point:
Capitalist of the week: Stephen Schwarzman, a private-equity tycoon and boss of Blackstone Group. He made little effort to contain his glee at the profit opportunities he has found during the economic crisis, and his hope that Barack Obama will press ahead with his latest banking reforms—which should help private equity by harming the public capital markets.
An interesting observation. Even given the looming tax law changes on carried interest, private equity will likely benefit from any misguided populist backlash against the banks. Just goes to show how complex the whole system is.
