AP on Davos:

"Davos just sort of encapsulates the broader global debate," said Stephen Roach, chairman of investment bank Morgan Stanley in Asia and one of the few to warn last year of the global ramifications of the U.S. sub-prime mortgage problem. "We're now moving into the ugliest phase of every crisis, the blame game."

"Wall Street made mistakes. Regulators made mistakes. Rating agencies made mistakes. Central banks made mistakes. Politicians made mistakes _ we all did it," Roach told The Associated Press. "So let's be careful that we don't let this blame game get out of hand."

What do you mean by "we," Mr. Roach? what an appropriate name for a bankster! Obviously, you don't mean those of us who are actually paying for your mistakes. Trust me, I've got bank vaults full of blame that I have yet to spend.

And you have to save this graph, for the next time someone is telling you about "why they are worth bonuses" and how we need to keep handing them money to 'retain top talent:'

DAVOS, Switzerland -- Mired in indecision and uncertainty, the world's foremost gathering of the best and brightest in government and business failed to come up with any new plan to stem, much less reverse, the global financial meltdown.

In some places, people who can't come up with a plan to address serious problems, you know, get fired. We should try that.

Mood of sobriety and self-recrimination at Davos

In recent years, Goldman Sachs has been renowned for hosting one of the hottest parties during the World Economic Forum’s glittering annual meeting in Davos. No longer.

This year, in a nod to the new mood of sobriety and self-recrimination, the US broker has quietly cancelled its party and sharply reduced its delegation to the event, which starts on Wednesday.

I guess class warfare isn't a sustainable economic model. Who knew?

All your social networking belong to us:

DAVOS, Switzerland - AT&T Inc. is still evaluating whether to examine traffic on its Internet lines to stop illegal sharing of copyright material, its chief executive said Wednesday.

CEO Randall Stephenson told a conference at the World Economic Forum that the company is looking at monitoring peer-to-peer file-sharing networks, one of the largest drivers of online traffic but also a common way to illegally exchange copyright files.