The day Littlefingers became president of the united States also brought down the curtain on the 2017 World Economic Forum Annual Meeting, the gathering of 2,500 leading corporate moguls, banksters, elected officials, economists, celebrities [George Clooney attended this year], and media figures in the elite Swiss resort town of Davos.
One of those in attendance was former World Bank Chief Economist, U.S. Treasury Secretary, and Harvard University President Lawrence Summers, a man who played a central role in the deregulation of American banking and the unleashing of the derivatives market.
In of the other words, he bears much of the responsibility for bringing on the Crash of 2008 and the ongoing global Great Recession.
But even he abhors the rush to embrace President Pussygrabber by his fellow Davos elites, as he writes in Financial Times [subscription only]:
I am disturbed by (i) the spectacle of financiers who three months ago were telling anyone who would listen that they would never do business with a Trump company rushing to praise the new administration; (ii) the unwillingness of business leaders who rightly take pride in their corporate efforts to promote women and minorities to say anything about presidentially sanctioned intolerance; (iii) the failure of the leaders of global companies to say a critical word about US efforts to encourage the breakup of European unity and more generally to step away from underwriting an open global system; (iv) the reluctance of business leaders who have a huge stake in the current global order to criticise provocative rhetoric with regard to China, Mexico or the Middle East; (v) the willingness of too many to praise Trump nominees who advocate blatant protection merely because they have a business background.
My objection is not to disagreements over economic policy. It is to enabling if not encouraging immoral and reckless policies in other spheres that ultimately bear on our prosperity. Burke was right. It is a lesson of human experience whether the issue is playground bullying, Enron or Europe in the 1930s that the worst outcomes occur when good people find reasons to accommodate themselves to what they know is wrong. That is what I think happened much too often in Davos this week.