Davos bankers to lobby against Obama reforms

Banking chiefs will head to Davos this week where they are expected to use the Swiss ski resort’s annual economics jamboree to quietly lobby against Barack Obama’s proposed clampdown on risk-taking and mergers.

The top management of several of the world’s biggest investment banks will attend the World Economic Forum’s meeting, which kicks off on Wednesday and coincides with the banking sector’s bonus season. It comes just days after the US president unveiled plans for the most stringent rules on financial institutions for decades as he seeks to prevent a repeat of the financial crisis that prompted costly government bailouts of banks.

Source: Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza