NYT's "Davos Diary"

The New York Times' "DealBook" features a blog that details key developments at the World Economic Forum Annual Meeting 2009 in Davos, Switzerland. The conference is especially important this year as the world economy faces an unprecedented crisis. 

A few highlights from the blog:

• Katrin Bennhold writes about a workshop on "Global Imbalances" where the global financial system is compared to an airplane: "Every time there is a crash, the reasons are analyzed in meticulous detail, and the planes, as well as the regulations governing them, are adjusted accordingly. Over time, accidents are largely 'regulated away.'" Unfortunately, the same process just cannot be applied to the financial markets despite the best efforts of politicians. 

• Tom Redburn writes about a session called "2009 World Economic Brainstorming: What Happened to the Global Economy" chaired by CNBC's Maria Bartiromo. According to Redburn, the session quickly turned into "a bit of a lynch mob, Davos-style." The high-point of the afternoon came when Nissan Nicholas Taleb of New York University explained "the biggest problem was that nobody was willing to pay the price for failure...It is time for some punishment." Former Treasury secretary and Citigroup board member Robert E. Rubin appears to be "Target No. 1" on Taleb's list.
  

The blog posts include news, analysis and lots of video. This year, the conference is held from Jan. 28 to Feb. 1. 

Check out the blog here.