The Economist’s Buttonwood Gathering, a conference bringing together global regulators and bankers to discuss and debate new ideas and develop a new set of guidelines moving forward, has just taken place in New York. Michael Panzer, writer of the Financial Armageddon blog and author of “Financial Armageddon: Protect Your Future from Economic Collapse”, was in attendance and has kindly shared some of the more interesting quotes on his blog, as reported below.

Secretary Tim Geithner, United States Department of the Treasury:

“Generally, we did not do enough.” (Referring to the failure to address growing concerns over excessive risk-taking in the period leading up to the financial crisis.) [Editor's note: understatement of the year?]

Stephen Roach, Chairman, Morgan Stanley Asia:

Those who are looking for a “V”-shaped recovery are in for “a rude awakening.”

“The imbalances going into the crisis were large to begin with.

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The first few days of the week have been characterized by a fresh wave of risk aversion as uncertainty over the global economic outlook took its toll on stock markets and investors favored safe-haven assets such as government bonds, the US dollar and Japanese yen. However, yesterday brought some relief for risky assets - now in corrective mode - and it remains to be seen whether the S&P 500 Index will close down for a fourth consecutive week as the US earnings season gets on the way.

The usual debate on the outlook for the economy and financial markets dominated the video channels over the past few days, but interesting snippets on the IMF’s improved forecast for the global economy, the viability of the Public-Private Investment Program (PPIP), the US dollar’s role as reserve currency, the prospects for the earnings-reporting season and President Obama’s visit to Russia were also

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India's Tech Mahindra Ltd. won the bid to acquire a controlling stake in the beleaguered software giant Satyam Computer Services Ltd. (SAY) on Monday for over $500 million.

Tech Mahindra offered a bid of 58 Indian rupees per share for a 31% stake in Satyam, beating two other rivals: engineering major Larsen & Toubro Ltd and private equity firm WL Ross & Co.

Tech Mahindra, in which Britain's BT Group (BT) has 31% stake, will make a public offer to acquire an additional 20% in Satyam at the same price.

Last January, software giant Satyam shocked investors by revealing that its assets were overstated by more than $1 billion. Although founder B. Ramalinga Raju, co-founder B. Rama Raju, CFO Srinivas Vadlamani and three other employees have been arrested for cheating and forgery, investor confidence on Satyam has dwindled.

The acquisition is expected to restore confidence in India's

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Sometimes it’s better to listen than to talk.  That’s where we are today concerning the current market turmoil.  The following are excerpts from the PIMCO montly letter and a piece in Fortune Magazine called “Crisis Counsel” .