Davos Bankers Struggle to Convince Elite That Markets Are Safer - Bloomberg

Davos Bankers Struggle to Convince Elite That Markets Are Safer - Bloomberg:



"Top bank executives are struggling to convince the world’s business elite in Davos the financial system is safer, more than five years since it fell into crisis.



In what has become a yearly sparring match between bankers and their critics, HSBC Holdings Plc (HSBA) Chairman Douglas Flint and Barclays Plc (BARC) Chief Executive Officer Antony Jenkins, two of Britain’s top bankers, faced criticism yesterday from Paul Singer, the billionaire hedge-fund manager who runs New York-based Elliott Management Corp., and Stanford University professor Anat Admati at a debate at the World Economic Forum.



“It can’t be that safer comes from relatively modest improvements in certain metrics plus private and policy maker half-steps,” said Singer, whose New York-based hedge fund manages $24 billion. “Because of the inability of investors to understand the financial condition of the major financial institutions, they aren’t able to stand on their own in the next financial crisis.”"



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