Shot: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. ... bank chiefs braving the public spotlight at the glitzy Davos resort – who will include Citigroup's Vikram Pandit and Bank of America's Brian Moynihan – will put their own case to regulators while also networking with clients and colleagues.Their focus will largely be on Obama's proposals for stopping banks from taking risky bets with their own capital to make money on the financial markets – a practice known as "proprietary trading".Chaser:
"This week, I will attend the World Economic Forum in Davos, Switzerland. The main purpose of my trip will be to talk with financial services regulators from other countries to coordinate our efforts to update and modernize financial regulations ... My major goal this week is to further our efforts at cooperation and work to prevent any national regulatory approaches that allows companies to dodge the kind of accountability and responsibility that is needed." -- House Financial Services Committee Chair Barney Frank.
-- Tim Fernholz
