Davos celebrates failure on a global stage

Sometimes a single fact stands out amid all the clutter, offering a flash of insight and clarity.

Here is one of them: Citigroup chief executive Vikram Pandit is a co-chairman of the World Economic Forum’s annual meeting this week in Davos, Switzerland.

At first blush, the notion might seem almost a non-event. Upon further consideration, this looks like it can’t possibly be right. Then it turns out, much to our amazement, that the story is accurate, confirming once again that our world is raving mad. You really have to wonder why anyone outside of Citigroup would pick Pandit to lead anything.