AP Photo

This is the first World Economic Forum in at least six years that hasn’t been gripped by a financial crisis. The giant banks are shrinking their footprints and workforces, but they’re not falling. To those without a Bloomberg or Reuters terminal, government bond markets have become boring again, as interest rates on Italian, Spanish, and Irish bonds have fallen to acceptable levels. The hedge fund managers are schmoozing, back slapping, and scheming about deals not fingering blackberries and iPhones like worry beads.