While Congress Diddles, Obama mumbles, and Bernake Fiddles-Rome is Burning

We just heard that the economy is going in the right direction and Pinocchio’s nose grew another 12 inches. Thanks to journalists like Michael Synder, we know the truth and the truth is the economy is getting worse month by month. Here are the facts, just the facts.

The only reason that the official unemployment rate has been declining over the past couple of years is that the federal government has been pretending that millions upon millions of unemployed Americans no longer want a job and have “left the labor force”.  As Zero Hedge recently demonstrated, if the labor force participation rate returned to the long-term average of 65.8 percent, the official unemployment rate in the United States would actually be 11.5 percent instead of 7 percent.

The percentage of Americans that are actually working is much lower than it used to be.  In November 2000, 64.3 percent of all working age Americans had a job.  When Barack Obama first entered the White House, 60.6 percent of all working age Americans had a job.  Today, only 58.6 percent of all working age Americans have a job. The “inactivity rate” for men in their prime working years (25 to 54) has just hit a brand new all-time record high.

In November 2007, there were 121.9 million full-time workers in the United States.  Today, there are only 116.9 million full-time workers in the United States. Only about 47 percent of all adults in America have a full-time job at this point.  The ratio of wages to corporate profits in the United States just hit a brand new all-time low.

When Barack Obama took office, the average duration of unemployment in this country was 19.8 weeks.  Today, it is 37.2 weeks. According to the New York Times, long-term unemployment in America is up by 213 percent since 2007.

According to the U.S. Census Bureau, median household income in the United States has fallen for five years in a row. The rate of homeownership in the United States has fallen for eight years in a row. The gap between the rich and the poor in the United States is at an all-time record high.

If that is not enough to understand how bad the economy is, then consider these facts. Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low. Back in the year 2000, our trade deficit with China was 83 billion dollars.  In 2008, our trade deficit with China was 268 billion dollars.  Last year, it was 315 billion dollars.  That was the largest trade deficit that one nation has had with another nation in world history.

Fortunately, it appears that most Americans are not buying into the propaganda.  According to a new CNN survey, the percentage of Americans that believe that the economy is getting worse far exceeds the percentage of Americans that believe that the economy is improving. However, we as a people are not doing anything to insure our congress and administration are reacting to correct this problem. We have to realize that WE MUST begin to hold these scoundrels responsible for their lack of action. At this juncture that includes most every member of congress, certainly the office of the President, and absolutely the FED decisions that have been made.

The American economy is being dismantled brick by brick and WE remain silent. The middle class is being eliminated and not only to we remain silent, we allow trade agreements like the Trans-Pacific Partnership (TPP) Free Trade Agreement (FTA) to be conducted IN SECRECY!  This compact may significantly limit public protections. The issues being negotiated extend to include “patent and copyright, land use, food and product standards, natural resources, professional licensing, government procurement, financial practices, healthcare, energy, telecommunications, and other service sector regulations.”  The secret process would establish policies binding on future U.S. Congresses and state legislatures on numerous non-trade subjects.

When you begin to marry first the lack of action by the congress to do ANYTHING effective concerning jobs with the outright disastrous monetary policies of the Fed and the SECRET free trade actions of the administration it is hard to deny those whacky conspiracy nuts who are saying the American economy is under attack!

We think every responsible adult should at a minimum pick up the phone and call their Representative or Senator and put them on notice to “GET TO WORK” on the economy or they will join the unemployed that they don’t seem to give a damn about.  So let’s make a New Year’s Resolution that by the second week in January, EVERY voting adult has called their representatives. It is just one phone call! Here is where to find their numbers. http://www.congressmerge.com/onlinedb/ We can do this. We must do this. EVERYONE!

Are You Getting It Yet? War Has Been Declared On You!

You cannot look at the events of the last thirty years and deny there is no respect for “The Common Man” anywhere in the world.  Much has been written about “The Elite”, “The Cabal”, “The Bildebergers”, “The Rothchilds”, and on and on and on.  Until a few years ago, these allegations have been generally rejected by the public as conspiracy theories, promulgated by disenfranchised paranoid people.

However, more recently, a lot of facts have surfaced that would suggest maybe, just maybe, there may be some credence to what these conspiracy nuts having been saying all along. So really what is going on? Could there be a world-wide conspiracy to “break down the common man”.  How could this even be possible, as it would involve so many people for an extended period of time.

In reality, the simple answer is yes, and it has been going on, in earnest for the last thirty years. The stated goal of this “Third World War” is simply; “the engineering of social automation systems (silent weapons) on a national or worldwide scale with the implicit extensive objectives of social control and destruction of human life, i.e., slavery and genocide.” Such an endeavor must be secured from public scrutiny. Otherwise, it might be recognized as a technically formal declaration of domestic war. Furthermore, whenever any person or group of persons in a position of great power and without full knowledge and consent of the public, uses such knowledge and methodologies for economic conquest – it must be understood that a state of domestic warfare exists between said person or group of persons and the public. President Eisenhower, in his farewell address, tried to warn us of this plan.

Consider these statements carefully. How would you describe the world since 911, economically? It would certainly seem to support such a statement. Think about the about of wealth that has been transferred in to the hands of a few since that event. Think about the bailouts of the banks, for example. It was the largest transfer of wealth in the history of mankind, period. Remember, we were told that if we, the people, did not bailout the banks, the world’s economy would collapse.  However, if you were really watching closely, the world economy was already collapsing. In the US, we were losing 750,000 jobs a month!

Remember, we were told that there was an immediate need to transfer $700 Billion of public funds to banks or it was all over. Later we learned that the actually amount transferred was more like$7.1 TRILLION Dollars, bailouts and multiple QEs. If you remember, when CONgress asked for an accounting of the bailout monies, Big Ben said, at first, that he wasn’t going to do that because it would hurt the commercial banks, if people knew which ones were in trouble, but through persistence we learned that the amount of money in secret loans that some of the big Wall Street banks received from the Federal Reserve is absolutely staggering.  The following figures come directly from a GAO report….

Citigroup – $2.513 trillion
Morgan Stanley – $2.041 trillion
Bank of America – $1.344 trillion
Goldman Sachs – $814 billion
JP Morgan Chase – $391 billion

OMG that’s $7.1 TRILLION and then with the bailouts of foreign banks, yes most of the major banks in Europe, and yes, we did those too, but you know the information is “so sensitive”.  The total is $16.115 TRILLION and that is more than the annual GDP of the entire country!

Unemployment was at about 7.5% then. We were told that we needed quantitative easing to stimulate the economy. Today, unemployment remains above 7%, yet the stock market is near an all time high. Seriously folks, how can that be? The answer is simple. Corporations are sitting on mountains of cash WE gave them! Catching on yet? This transfer of wealth (theft) has gotten so bold, the banks are no longer even wanting to give it an “official” look. One glance at what is happening in Cyprus is all anyone needs to know to understand this fact.

According to a CIA training manual, silent weapon technology has evolved from Operations Research (O.R.), a strategic and tactical methodology developed under the Military Management in England during World War II. The original purpose of Operations Research was to study the strategic and tactical problems of air and land defense with the objective of effective use of limited military resources against foreign enemies (i.e., logistics). It was soon recognized by those in positions of power that the same methods might be useful for totally controlling a society.

Social engineering (the analysis and automation of a society) requires the correlation of great amounts of constantly changing economic information (data), so a high-speed computerized data-processing system was necessary which could race ahead of the society and predict when society would arrive for capitulation. Sound familiar as it relates to Wall Street trading among the brokers, or the recent revelations concerning domestic surveillance?

Although the silent weapons system was nearly exposed in 1967, the evolution of the new weapon-system has never suffered any major setbacks. Energy is recognized as the key to all activity on earth. Natural science is the study of the sources and control of natural energy, and social science, theoretically is expressed as economics, and is the study of the sources and control of social energy. Both are bookkeeping systems: mathematics. Therefore, mathematics is the primary energy science. And the bookkeeper can be king if the public can be kept ignorant of the methodology of the bookkeeping.

All science is merely a means to an end. The means is knowledge. The end is control. Beyond this remains only one issue: Who will be the beneficiary?  In 1954 this was the issue of primary concern. Although the so-called “moral issues” were raised, in view of the law of natural selection it was agreed that a nation or world of people who will not use their intelligence are no better than animals that do not have intelligence. Such people are beasts of burden and steaks on the table by choice and consent.

Consequently, in the interest of future world order, peace, and tranquility, it was decided to privately wage a quiet war against the American public with an ultimate objective of permanently shifting the natural and social energy (wealth) of the undisciplined and irresponsible many into the hands of the self-disciplined, responsible, and worthy few.

So here we are folks. Is it a hair-brained conspiracy or is it real? If we look just at the facts, and ask one simple, simple question, “what is the future for my children?” The answer requires us to change the course of history.  Remember, when we do the “bookkeeping” this one simple fact is key to winning the “Quiet War”, “into the hands of the self-disciplined, responsible, and worthy few.” Therefore this big secret is the Achilles heel of this immoral plan, and that is that it is impossible to pull off without OUR consent or permission. I, for one, DO NOT CONSENT! How about you?

Do You Really Understand What the FED Has Committed on Your Behalf?

When you look at the breakdown of the bailouts and QE programs as below, it becomes quite apparent how really insane this monetary policy really is.  What’s more frightening is that the EU’s policies are WORSE! The FED is printing money willy-nilly and the ECB is slowly sucking the economic viability out of the EU economy with nihilistic austerity programs, and even in the light of real evidence of the damage, they continue to enact these insane policies.

To put in perspective the size of just the US money printing operation, consider that the “net” figure of $863 billion represents the total face value of Federal Reserve Notes in circulation, or, it represents nearly 50% of the GDP. To put it another way, you via congressional monetary policy delegated to the FED’s monetary policy has taken actions that put every man, woman, and child in this country in debt to the tune of $237,500! Translated to a family of four that’s a cool 950 LARGE!

While the FED speeds down the road to a hyperinflationary crash, and the EU is looking at a third round of recession and might even be looking at the “D” word, deflation, China is creating gold backed ETFs and is entering market places globally, the rise of the Red Dragon. The monetary policies of Russia, China, and most of the so called BRIC nations seem to be adapting more correctly to world markets and demands.

I don’t remember us being asked to comment or god-forbid assent to such policies. But hey, according to Jamie Dimon in Davos Switzerland  explaining why people don’t need to know what’s going on in the banking world. It’s too “complex.” Just know that their fee comes from managing this ball of financial confusion. And that’s all you need to know. Really? How about what I understand, that this is a house of cards game being played in an unregulated casino and that it will collapse without any question and therefore by definition is insane.  I know that’s complex but I’m just an ordinary guy.

U.S. President Barack Obama on Thursday nominated Mary Jo White, a former U.S. attorney who built a reputation prosecuting white-collar criminals, terrorists and mobsters, to lead the Securities and Exchange Commission.  The agency has a lead role in implementing changes on Wall Street.

White spent nearly a decade as the U.S. attorney in Manhattan, handling an array of white-collar crimes and complex securities and financial fraud cases. She brought down mobster John Gotti and won convictions in the 1993 World Trade Center bombing and the 1998 bombings of two U.S. embassies in Africa.

Obama said that experience makes White well-suited to implement legislation he championed to change the behavior on Wall Street. “I’d say that’s a pretty good run. You don’t want to mess with Mary Jo,” Obama said at the White House. “As one former SEC chairman said, Mary Jo does not intimidate easily, and that’s important because she has a big job ahead of her.

That’s the positive “spin”. The negative side of this is that White also represented JPMC, and others as defense attorney in SEC inquiries. So in a sense, White knows where the bones are buried.  The Wall Street Pit bulls aren’t barking so it is hard to read what is next.  Certainly, in spite of the magnitude of evidence of felonies being committed by the Wall Street Boys, no one has gone to jail. Is that about to change? Only time will tell.  Oh yeah and one other thing, you writing the new head of the SEC and after you have congratulated her on her significant appoint, urge her to begin immediately to vigorously prosecute those where the evidence is certain.

You know we do not need to understand what an ETF is or what a credit default swap is, because in the end it is just this simple.  These ego-maniacs have bet the farm and put up the family as collateral. It really is that real. So do you have anything to say about that?

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Breaking Through the First Myth of Enslavement – Scarcity of Resources

In order for the elite of this world to rule us, they must first create the myth that there is a scarcity of resources.  This achieves two goals for them to rule over the rest of us.  One, we all can’t have it all, only a selected few, and two, this scarcity myth creates an artificial value which is how they measure power and wealth.  This scarcity is simply not factual.

Let’s consider a few facts, then we can begin to visualize a society where certainly everyone on this planet can have everything they could possible desire.  Sounds crazy huh?  I must be nuts.  Well maybe, but at least consider what I am saying and then debunk my logic.

The current population of the earth is about 6 Billion people. If we had a society that was based on freedom, justice, and efficiency we could accomplish things like equal spacious communal housing.  We could construct very high density, but spacious living quarters (3M² ) per person easily on very small footprints.  A building that was say 3000 M x 3000M x 500M could house 1/2 Billion people!  That’s right, on a footprint of only 3 square kilometers, we could house that many people.  That would mean that housing the entire world’s population could be achieved in as little as 36 square kilometers, if we approach the idea purely from efficiency!

Doubling or even tripling that size would leave vastly large areas of the facilities for communal activities and still only have a footprint of 100 – 150 square kilometers.  When we can think in these terms, then the vast remaining space can be used for agriculture, parks, and pristine recreational facilities. Given that the earth’s land surface is about 148,300,000 sq km, I think you get the point. To say that we cannot provide spacious living quarters for everyone is simply a myth.  Food scarcity based on the above model is simply laughable. Given such facilities could have hydroponic gardening systems for local vegetables and spices and the rest of agricultural needs could easily be supported by the available land that would exist, it simply defies logic that we cannot have comfortable living quarters for everyone without some sick plan to depopulate the planet or that this planet has some finite carrying capacity that we are now exceeding. Simply put that is BS.

The biggest argument that the “green” doomsdayers put forth is the scarcity of potable water.  Countries and governments all over the world struggle with this issue.  They go to war over water “rights”. “Rights’ is an interesting concept, isn’t it? It is a current limiting factor to growth, prosperity, health, and housing everywhere in the world.  The fact that only ½% of the water on this planet is potable is the argument.  But that is exactly the point!  I would use the very same fact to argue that no one on this planet should be without clean drinking water. We have 99.5 % of the water unused!  Given our current technologies and the will to stop polluting the waters we have, we could easily support the current world’s population and much much more. It isn’t even a question of technologies, only of will and focus.

The seemingly big issue is availability of clean energy.  Energy companies everywhere go about the planet acting as though they are even above governments because after all they are the ones continually seeking the energy that will make or break the prosperity of the world’s economies.  They are in fact just exploiting the cheapest and most finite resources in the most environmentally irresponsible ways to create the most wealth for themselves.  Electricity produced by clean limitless technologies that have been suppressed by these very same multi-national corporations is already within our grasp, and have been for decades.  Free energy from electricity produced in these non-nuclear, non-fossil fuel based modes could provide free limitless energy for everyone.  Free energy alone could raise the world’s standard of living 100 fold!  The amount of pollution reduction achieved by these technologies would allow the planet to heal itself in a matter of decades.  The ability to wirelessly transmit this electrical power (WET technologies) also exists.  Further both in the UK and the US these systems already are being utilized.  General Motors (GM) has invested $5 million into a wireless charging device called PowerMat that uses inductive charging, which transmits electricity via magnets without any actual, physical connection. Since GM is owned by the US government, their new device may have more to do with the release of certain Tesla technology covertly.

According to the DoD Fiscal Year 2012 Operational Energy Budget Certification Report, they are researching experiments to facilitate the energy required for military operations. In the name of national security, the DoD is “directly [supporting] military operations [that] require a steady supply of energy for mission success”. WET technology obviously would expedite this need. In conjunction with the “2009 National Defense Authorization Act (NDAA) directed the appointment of a Director of Operational Energy Plans and Programs in the DoD . . . are coordinating and overseeing program activities related to the implementation of operational energy [strategies], research and development, investments” for the exclusive use of the US government.

So there you have it, my logic, in a 1,000 words or less why scarcity of resources is just a myth.  Think about what everyone’s life on this planet would be like if we all had spacious clean housing, good nutritional food supplies, clean water, and unlimited free power.  Now tell me why we don’t have all these things right now.

The real reasons are greed, power, ignorance of the facts, and willful suppression of technologies to maintain the myth of scarcity.

Finally, The Banksters Are Being Exposed By a Brave Member of the Senate

It is all too often easy to look at the political process and feel the deck is so stacked against the regular guy that we must resign ourselves to the fact our democratic process has been bought and sold to the highest bidder.  The Citizens United ruling by the Supreme Court seemed to “seal the deal” for the banksters. Now we get a breath of fresh air from at least one senator who has had the balls to call them out in the light.

Bernie Sanders from Vermont released this  roadmap of  how the banksters stole our money yesterday and it is a must read!  Here is the highlights.

“1. Jamie Dimon, the Chairman and CEO of JP Morgan Chase, has served on the Board of Directors at the Federal Reserve Bank of New York since 2007. During the financial crisis, the Fed provided JP Morgan Chase with $391 billion in total financial assistance. JP Morgan Chase was also used by the Fed as a clearinghouse for the Fed’s emergency lending programs. In March of 2008, the Fed provided JP Morgan Chase with $29 billion in financing to acquire Bear Stearns. During the financial crisis, the Fed provided JP Morgan Chase with an 18-month exemption from risk-based leverage and capital requirements. The Fed also agreed to take risky mortgage-related assets off of Bear Stearns balance sheet before JP Morgan Chase acquired this troubled investment bank.

2. Jeffrey Immelt, the CEO of General Electric, served on the New York Fed’s Board of Directors from 2006-2011. General Electric received $16 billion in low-interest financing from the Federal Reserve’s Commercial Paper Funding Facility during this time period.

3. Stephen Friedman. In 2008, the New York Fed approved an application from Goldman Sachs to become a bank holding company giving it access to cheap Fed loans. During the same period, Friedman, who was chairman of the New York Fed at the time, sat on the Goldman Sachs board of directors and owned Goldman stock, something the Fed’s rules prohibited. He received a waiver in late 2008 that was not made public. After Friedman received the waiver, he continued to purchase stock in Goldman from November 2008 through January of 2009 unbeknownst to the Fed, according to the GAO. During the financial crisis, Goldman Sachs received $814 billion in total financial assistance from the Fed.

4. Sanford Weill, the former CEO of Citigroup, served on the Fed’s Board of Directors in New York in 2006. During the financial crisis, Citigroup received over $2.5 trillion in total financial assistance from the Fed.

5. Richard Fuld, Jr, the former CEO of Lehman Brothers, served on the Fed’s Board of Directors in New York from 2006 to 2008. During the financial crisis, the Fed provided $183 billion in total financial assistance to Lehman before it collapsed.

6. James M. Wells, the Chairman and CEO of SunTrust Banks, has served on the Board of Directors at the Federal Reserve Bank in Atlanta since 2008. During the financial crisis, SunTrust received $7.5 billion in total financial assistance from the Fed.

7. Richard Carrion, the head of Popular Inc. in Puerto Rico, has served on the Board of Directors of the Federal Reserve Bank of New York since 2008. Popular received $1.2 billion in total financing from the Fed’s Term Auction Facility during the financial crisis.

8. James Smith, the Chairman and CEO of Webster Bank, served on the Federal Reserve’s Board of Directors in Boston from 2008-2010. Webster Bank received $550 million in total financing from the Federal Reserve’s Term Auction Facility during the financial crisis.

9. Ted Cecala, the former Chairman and CEO of Wilmington Trust, served on the Fed’s Board of Directors in Philadelphia from 2008-2010. Wilmington Trust received $3.2 billion in total financial assistance from the Federal Reserve during the financial crisis.

10. Robert Jones, the President and CEO of Old National Bancorp, has served on the Fed’s Board of Directors in St. Louis since 2008. Old National Bancorp received a total of $550 million in low-interest loans from the Federal Reserve’s Term Auction Facility during the financial crisis.

11. James Rohr, the Chairman and CEO of PNC Financial Services Group, served on the Fed’s Board of Directors in Cleveland from 2008-2010. PNC received $6.5 billion in low-interest loans from the Federal Reserve during the financial crisis.

12. George Fisk, the CEO of LegacyTexas Group, was a director at the Dallas Federal Reserve in 2009. During the financial crisis, his firm received a $5 million low-interest loan from the Federal Reserve’s Term Auction Facility.

13. Dennis Kuester, the former CEO of Marshall & Ilsley, served as a board director on the Chicago Federal Reserve from 2007-2008. During the financial crisis, his bank received over $21 billion in low-interest loans from the Fed.

14. George Jones, Jr., the CEO of Texas Capital Bank, has served as a board director at the Dallas Federal Reserve since 2009. During the financial crisis, his bank received $2.3 billion in total financing from the Fed’s Term Auction Facility.

15. Douglas Morrison, was the Chief Financial Officer at CitiBank in Sioux Falls, South Dakota, while he served as a board director at the Minneapolis Federal Reserve Bank in 2006. During the financial crisis, CitiBank in Sioux Falls, South Dakota received over $21 billion in total financing from the Federal Reserve.

16. L. Phillip Humann, the former CEO of SunTrust Banks, served on the Board of Directors at the Federal Reserve Bank in Atlanta from 2006-2008. During the financial crisis, SunTrust received $7.5 billion in total financial assistance from the Fed.

17. Henry Meyer, III, the former CEO of KeyCorp, served on the Board of Directors at the Federal Reserve Bank in Cleveland from 2006-2007. During the financial crisis, KeyBank (owned by KeyCorp) received over $40 billion in total financing from the Federal Reserve.

18. Ronald Logue, the former CEO of State Street Corporation, served as a board member of the Boston Federal Reserve Bank from 2006-2007. During the financial crisis, State Street Corporation received a total of $42 billion in financing from the Federal Reserve. ”

{end press release quote}

We need to support this courageous effort by being totally outraged and begin demanding that a criminal investigation begin immediately.  We should also demand that Congress does not renew the Federal Reserve Charter to “handle” the job the US Treasury should be doing.  That charter is up for a vote in 2013. Everyone who reads this should inform everyone they know about these facts and ask them not only to read it but to pass it on to everyone they know and then we all should put our representatives on notice that we absolutely want our financial system back.

There is no single issue more important to each and everyone of us, literally.  Get informed, wake up, and act. Forget the clown circus that is the presidential campaigns and get to the REAL Chains that bind us.  Let’s set ourselves free and here are the keys to the cuffs.

Do We Understand How Far We Have Come?

As the issues of the world continue to unfold, it can look like a glass half empty or a glass half full.  I think we suffer from several classes of amnesia.  In its shortest frame it called the 30 second average attention span that many from marketing and politics count on, or it is generational type, where none of the current generation remember the JFK assassination or the Vietnam War or dial phones for that matter.  At the long end of the spectrum there is the ERA gap.  You have to be a scholar to appreciate where we are now as compared to say 18^th or 19^th century is any terms you would like to measure. I think we can all agree on these points.

However, events unfolding here and now globally are not entering our consciousness by deliberate efforts of MSM to not report them, as they faithfully obey orders.  The truth is people all over the world are beginning to free themselves from their economic bonds in the most miraculous ways.  Isn’t strange that you are not hearing what is transpiring in Iceland, and are barely aware of the importance of what has happened with the elections in Greece and France?

As we begin the political debates in the US, in the most generalized of terms, the debate seems to be the arguments of AUSTERITY vs. SOCIALISTIC government.  The inference is we need to cut deficits vs. spending on infrastructure and social programs that will generate jobs and much needed tax revenue.  On its surface, that seems to be a logical argument, but when examined closely it is somewhat comparing apples to oranges.  Isn’t it odd that you don’t seem at this moment to understand why not?

What has actually happened in the world after the 2008 crash was both philosophies were applied by various governments.  So it seems also logical to look at the results so far.  The EU and the UK applied severe austerity programs.  These programs brought Ireland, Greece, Spain, Italy and Portugal nearly to anarchy.  Unemployment sky-rocketed, growth stagnated and even went negative.  The austerity programs did not result in deficit reduction.  Quite the contrary, deficits increased because tax revenue contracted dramatically.  One only has to ask, who benefits from austerity programs?

Then, within the last year a revolution began. Not a revolution in the street, although riots in Greece, Spain, UK, Italy, Ireland, and the US with the Occupy Movement did occur, but within the political and governmental institutions.  Iceland led the way.

In Iceland, the people have made the government resign, the primary banks have been nationalized, and by referendum, it was decided to not pay the debt that these political criminals created with Great Britain and Holland due to their bad financial policies.  Further, a public assembly has been created to rewrite the constitution, and all of this was accomplished in a peaceful way. A whole country revolution against the powers that  created the current global crisis in the first place. This is why there hasn’t been any publicity concerning this during the last two years.

This was accomplished by 25 citizens being chosen, with no political affiliation, out of the 522 candidates. For candidacy all that was needed was to be an adult and have the support of 30 people. The constitutional assembly started in February of 2011 to present the ‘carta magna’ from the recommendations given by the different assemblies happening throughout the country. It must be approved by the current Parliament and by the one constituted through the next legislative elections.

So in summary here are the accomplishments of the Icelandic revolution:
-resignation of the whole government
-nationalization of the bank.
-referendum so that the people can make the economic decisions of the country.
-incarcerating the responsible parties
-rewriting of the constitution by its people

WOW! Isn’t strange you hear nothing of this?  Really if there is anything of reality left, one must at minimum begin to suspect we are “being managed”.  However, enough people were following what was happening in Iceland and these past elections in Greece and France, the “Managers” were handed their heads.  I think these ideas will spread to the rest of the EU and the UK this summer.

In the US, the debate seems more about empowering women and the LGBT population, or is that the distraction?  All freedom and opportunity extends from economic freedom.  THIS IS THEN THE DEBATE that needs to occur.  While the US response so far to the collapse has been a mixed bag of spending and austerity, the gains have been better than going the other direction, but they are far from being enough.

What the Austerity camp says we have to respond to the reality of debt versus federal income and they would show a chart like this:

What that really means is this trend continuing:

 Again, you have to ask the question “who benefits from federal deficits the most? You have to kind of link this concept to a seemingly disconnected reality.  That reality is the question of who did the banks lose all those trillions of dollars to that WE made good?  Who was the beneficiary of those loses? The money just doesn’t evaporate.  When a JPM Chase says it “lost” $3 trillion in 6 weeks, it means they had to PAY someone $3 trillion dollars.  Who was that?  Hmmm.

It is all a rathole that is siphoning our money.  We all know who the rats are and maybe it is time to look again at what has been accomplished in Iceland and adopt those kinds of approaches.

Some Fact Checking on the BIG BAILOUT and Its Effect on the Economy

Remember back in 2008, when Uncle Ben Bernanke and Little Timothy Geithner went to the Hill and said they needed $700 B to bailout the banks or else the world economy would collapse?  Yeah we all remember, there have been millions of articles, documentaries, and movies made about it.

Ok so when the Congress called Uncle Ben back to testify about what he did with the money and was asked to explain how the bailout had saved the economy, he REFUSED to disclose who got how much, defending his position by saying that divulging such information could jeopardize the public faith in the individual banks who had received monies.  Congress said, ‘Oh OK that makes sense’.

Then, in 2009, the discussion was that if banks were too big to fail that those banks should also be too big to exist, as that would put us right back in the position that got us into the jam in the first place.  Bernanke agreed, but offered no statements as to what should be done to prevent it.  Some in CONgress did and the Dodd-Frank Bill was passed.  At the time some said it was too weak as written, but hey, at least it was a start.

So, here we are now.  How has Dodd-Frank or Federal Reserve policy worked?  I do hope you are sitting down for this.  You may also want to pour a stiff dink, if you are so inclined, or at least have a pair of vise grips handy to occasionally pinch yourself.

First, too big to fail has resulted in the following: Five banks — JPMorgan Chase & Co. (JPM), Bank of America Corp. (BAC), Citigroup Inc., Wells Fargo & Co. (WFC), and Goldman Sachs Group Inc. — held $8.5 trillion in assets at the end of 2011, equal to 56 percent of the U.S. economy, according to central bankers at the Federal Reserve. Five years earlier, before the financial crisis, the largest banks’ assets amounted to 43 percent of U.S. output. The Big Five today are about twice as large as they were a decade ago relative to the economy!  WHAT????  Yeah you read it correctly.  Back in 1970, the 5 biggest U.S. banks held 17 percent of all U.S. banking industry assets.  Today, the 5 biggest U.S. banks hold 52 percent of all U.S. banking industry assets.  What say you Uncle Ben? What say you CONgress?

At a recent lecture at George Washington University, Mr. Benanke said ,according to CNNMoney, — “The bailouts of Bear Stearns and AIG were “distasteful” but still necessary. Meanwhile, the Fed was “helpless” when it came to saving Lehman Brothers, he said.

“Lehman Brothers was in itself probably too big to fail, in the sense that its failure had enormous negative impacts on the global financial system,” Bernanke said. “But there we were helpless, because it was essentially an insolvent firm.”

In a lecture about the Fed’s emergency efforts during the financial crisis, Bernanke explained that the central bank was willing to bail out AIG (AIG, Fortune 500) and Bear Stearns because it expected both firms would eventually be able to pay back their loans. Bear Stearns was ultimately acquired by JPMorgan Chase (JPM, Fortune 500).

Lehman Brothers, on the other hand, had no collateral to put up in exchange for the Fed’s assistance.

“It was very difficult and in many ways distasteful intervention that we had to do on the grounds that we needed to do that to prevent the system from collapsing,” Bernanke said. “But clearly, it is something fundamentally wrong with a system in which some companies are ‘too big to fail.'”

Oh! Then I guess we really had no choice except to fork over the $700 Billion.  It was exactly $700 Billion though, wasn’t it Uncle Ben?  It took a court case by Bloomberg (because CONgress wouldn’t or couldn’t demand the info) to reveal the true number of the bailout.  Vise grips and shot glasses at the ready, here are the real numbers we are all on the hook to the FED for.

The amount of money in secret loans that some of the big Wall Street banks received from the Federal Reserve is absolutely staggering.  The following figures come directly from a GAO report….

Citigroup – $2.513 trillion
Morgan Stanley – $2.041 trillion
Bank of America – $1.344 trillion
Goldman Sachs – $814 billion
JP Morgan Chase – $391 billion

OMG that’s $7.1 TRILLION and then with the bailouts of foreign banks, yes most of the major banks in Europe, and yes we did those too, but you know the information is “so sensitive”.  The total is $16.115 TRILLION and that is more than the annual GDP of the entire country!

But this has been good for the economy right?  I mean if we, as the American people, throw that much money at the problem things are getting better.  I mean the banks did the responsible thing to fix the problem, after all we have trusted them with an entire year’s worth of labor by everyone and every company in the US.  Well…..consider these two facts.

1). Over the past few years, big Wall Street banks have made huge amounts of money speculating on the price of food.  This has caused food prices all over the globe to soar and it has caused tremendous hardship for hundreds of millions of families around the planet.  The following is from a recent article in The Independent….

Speculation by large investment banks is driving up food prices for the world’s poorest people, tipping millions into hunger and poverty. Investment in food commodities by banks and hedge funds has risen from $65bn to $126bn (£41bn to £79bn) in the past five years, helping to push prices to 30-year highs and causing sharp price fluctuations that have little to do with the actual supply of food, says the United Nations’ leading expert on food.

Hedge funds, pension funds and investment banks such as Goldman Sachs, Morgan Stanley and Barclays Capital now dominate the food commodities markets, dwarfing the amount traded by actual food producers and buyers.

Goldman Sachs alone has earned hundreds of millions of dollars in profits from food speculation.

2). According to the New York Times, the too big to fail banks have complete domination over derivatives trading.  Every month a secret meeting that includes representatives from JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America and Citigroup is held in New York to coordinate their control over the derivatives marketplace.  The following is how the New York Times describes those meetings….

On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan. The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. They also share a common secret: The details of their meetings, even their identities, have been strictly confidential.

When the derivatives market fully implodes, there will not be enough money in the world to bail everyone out.  According to the Comptroller of the Currency, the too big to fail banks have exposure to derivatives that is absolutely outrageous.  Just check out the following numbers….

JPMorgan Chase – $70.1 Trillion

Citibank – $52.1 Trillion

Bank of America – $50.1 Trillion

Goldman Sachs – $44.2 Trillion

That’s over $200 TRILLION dollars, more than 3 ½ TIMES the global GDP! And that is just the Big Five’s exposure to the derivatives market.

This is beyond insane and would be funny except we are being enslaved to keep it floating. When you combine these facts with the current crisis in the EU, and the fact CONgress has gutted Dodd-Frank and even voted down the Volcker rule that would not allow banks to speculate with our deposits, it doesn’t even make sense to a brick wall.

I write this article because the banksters are counting on us not understanding how well they have fleeced our global economy with no hopes of any recovery.  They hope we will all just say this is high finance and we don’t need to understand it.  You would understand if your teenage ran up $5,000 in credit card bills wouldn’t you? And I am certain what you would say and do to your irresponsible teenager who did such a thing.  THEY would be grounded for LIFE, and you certainly wouldn’t give them any more of your money!  For each and every one of us, we need to understand this is the very same thing, only the irresponsible teenagers in this scenario are the FED, the banksters, and our CONgress, and I am being nice. Criminals could also be used to replace irresponsible teenager in this real life scenario, lots of criminals.  So what are we going to do about this, DAD? MOM?  There really isn’t anybody else stepping up, nowhere in the world.  Sorry to be such a bummer, but it is what it is.

Financial Sector Resignations Continue.. This Phenomena Really Has Legs.

In a continuation of our previous article, we continue with the assistance of those previously acknowledged to follow this seemingly mass migration of senior financial experts globally.  This now far exceeds “normal attrition”.  If we are to believe Benjamin Fulford and others, this is the “taking down” of the cabal that has been responsible for the biggest theft of wealth in history. As we also said, the nature of these resignations is most telling.  Fifty-one percent resigned or stepped down, 26 percent retired, and only 9 percent left to take other jobs….

I would welcome anyone in “the know” to comment.  I know a lot of financial industry folks read this blog.  Maybe it is time and it may be the only time to contribute positively to this discussion and the events unfolding.

Certainly, the evidence is supporting that events are unfolding as Fulford and others are contending.  If that is so, then we should be seeing some sort of major media announcement within the next week.  We will continue to follow this closely.  It does seem important enough to pay close attention.

Also, if this is what is happening (a complete do-over of the global financial system), it is the most important event of our lifetimes.  Anyone who can help us understand this correctly is welcome to join the discussion.

3/07/12 (AUSTRALIA) Customers Ltd, Tim Wildash has cashed himself out as chief executive of Australia’s largest ATM operator
http://goo.gl/eZJMb

3/07/12 (USA CA) CALSTRS, Pascal Villiger, senior private equity portfolio manager at the $145 billion California State Teachers’ Retirement System resigns
http://goo.gl/ub0ke

3/07/12 (USA) Astaire quits Bank of America Merrill to dance to Barclays Capital’s tune
http://goo.gl/Zv6Ny

3/08/12 (UK)  Schroders, Chairman  Michael Miles  depart as fees, inflows drop. UK’s biggest fund management firm.
goo.gl/TgURM

3/08/12 (USA NY) Schroders, CIO Alan Brown is steps down
http://goo.gl/ZTtYo

3/08/12 (USA IL) CBOE Executive Patrick Fay Put on Leave Amid SEC Probe
http://goo.gl/x5snO

3/08/12 (USA NH & RI) Bristol County Savings Bank president E. Dennis Kelly retires after 35 years
http://goo.gl/8KVKn

3/08/12 (GERMANY) Clearstream Banking AG – Katja Rosenkranz To Leave Deutsche Börse Group [stockmarket]
http://goo.gl/RiVNi

3/08/12 (UK) B&CE CEO Brian Griffiths is to retire later this year
http://goo.gl/AV7Sk

3/08/12 (UK) Invesco Trimark Ltd, portfolio manager Dana Love has resigned.
http://goo.gl/MyQ90

3/08/12 (ISRAEL) Bank of Israel Governor Stanley Fischer will hand in his shock resignation in the coming days and take up a new position as head of the Bank of Zambia. Finance Minister Yuval Steinitz is believed to be furious with Fischer’s decision. Treasury officials said he even canceled his participation in the office’s annual Purim party in order to convince Fischer to reverse his decision.
http://goo.gl/0DlSA

3/08/12 (SOUTH AFRICA) Standard Bank Group Limited (SBK), board member Sir Paul Judge retires.
http://goo.gl/SjSPg

3/08/12 (SOUTH AFRICA) Standard Bank Groupl Limited (SBK), board member Sir Sam Jonah retires.
http://goo.gl/SjSPg

3/09/12 (MONGOLIA) Mongol Bank President Alag Batsukh submitted his resignation letter to Speaker of Parliament D. Demberel at the end of last month. He described his reason for resigning as a lack of support by Parliament.
http://goo.gl/RDmNx

3/09/12 (MONGOLIA) Asia Pacific Securities, General Manager Narantuguldur Saijrakh recently resigned, to focus on his role as Director of Khan Investment Management, investment advisor to the Khan Mongolia Equity Fund – the first open-ended investment vehicle with monthly dealing that invests in Mongolia related equities listed both domestically and internationally.
http://goo.gl/2T4R6

3/09/12 (Côte d’Ivoire) Banque Central des Etats d’Afrique de l’Ouest (BCEAO) The Ivorian governor of the multi-billion dollar West Africa Francophone bank, Philippe-Henry Dacoury-Tabley, resigned his post.
http://goo.gl/CevLn

3/09/12 (UK) Lazard , co-head of investment banking Alexis de Rosnay quits. De Rosnay specialises in the healthcare sector, he has advised Teva Pharmaceutical and Novartis.
http://goo.gl/3gzbi

3/09/12 (UK) Deutsche Bank PWM, UK head of portfolio management Martyn Surguy resigned.
http://goo.gl/5Ti2p

3/09/12 (UK) Deutsche Bank PWM, head of discretionary management, Kypros Charalambous, having also stepped down.
http://goo.gl/5Ti2p

3/09/12 (HONG KONG) Bank of America Merrill Lynch, K.J. Kim, responsible for Southeast Asia, resigned
http://goo.gl/sE7xh

3/09/12 (HONG KONG) Bank of America Merrill Lynch, Jimmy Choi, who was in charge of high-yield debt, resigned.
http://goo.gl/sE7xh

3/09/12 (HONG KONG) Bank of America Merrill Lynch, Leonard Ng, a vice-president in Hong Kong resigned.
http://goo.gl/sE7xh

3/09/12 (AUSTRALIA) Bank of Queensland CFO Ram Kangatharan plans to leave the bank.
http://goo.gl/ieNea

3/09/12 (USA) Cerberus Capital Management LP, CEO Robert Nardelli resigns.
http://goo.gl/9uKVx

3/10/12 (AUSTRALIA) WESTPAC, Rob Chapman opted to quit running its regional subsidiary St George Bank.
http://goo.gl/G6MD

3/10/12 (TURKEY) Garanti Bank, The deputy CEO of Turkish lender Tolga Egemen, has decided to quit.
http://goo.gl/vAMzV

3/10/12 (CHINA) Korea Development Bank, Shanghai unit senior manager Stella Wen resigned.
http://goo.gl/55CqZ

3/10/12 (HONG KONG) Deutsche Bank, Johan Sudiman resigns as director.
http://goo.gl/6CYGP

3/12/12 (USA) John Lewis Partnership Pension Trust, head of investments Andrew Chapman, resigns
http://goo.gl/hevqh

3/12/12 (USA CA) California’s Department of Financial Institutions, commissioner William Haraf resigned. The DFI did not say why he is leaving.
http://goo.gl/zquTc

3/12/12 (KUWAIT) Gulf Bank, Chairman Ali Rashaid Al Bader quits
http://goo.gl/LDz9b

3/12/12 (UK and IRELAND) Allfunds Bank, head of UK and Ireland Alan Gadd is stepping down from his role at the end of April.
http://goo.gl/4DF6i

3/12/12 (USA) ICAP, CEO of the electronic broking business David Rutter step down following a restructuring of the business.
http://goo.gl/SUHqW

3/12/12 (UK) SVG Capital, chairman Nicholas Ferguson resigns. His departure left him well placed to succeed James Murdoch as chairman of BSkyB should the latter bow to investor pressure and step down. Other investors in the satellite broadcaster suggested Ferguson might be seen as too close to Murdoch to win the support of institutional shareholders.
http://goo.gl/z19wH

3/12/12 (UK) Park Hill Group – Blackstone Group’s fundraising advisory arm, Managing Partner of private equity and hedge fund distribution Chris Leach resigns
http://goo.gl/jnHax

3/12/12 (UK) Park Hill Group – Blackstone Group’s fundraising advisory arm, Managing Partner Justin Bower resigns
http://goo.gl/jnHax

3/12/12 (UK)  The chief executive David Rutter of the electronic broking business at interdealer broker Icap stepping down.
http://goo.gl/sxk4y

3/12/12 (SOUTH AFRICA) The Development Bank of Southern Africa (DBSA), CEO Paul Baloyi resigns.
http://goo.gl/yX4xo

3/12/12 (USA) Lehman Brothers Holdings Inc, CEO Bryan Marsal Resigns Title, Remains on as Adviser
http://goo.gl/1K9zV

3/12/12 (USA IL) CME Group Inc, CEO Craig Donohues will step down at year end.
http://goo.gl/lvzgC

3/13/12 (USA) Eaton Vance Corp, Treasurer and CFO Robert J. Whelan has stepped down.
http://goo.gl/oxmbL

3/12/12 (USA IL) CBOE Holdings Inc. (CBOE), senior compliance executive Patrick Fay has resigned. The options exchange being investigated by the Securities and Exchange Commission, Fay had been placed on leave after the SEC began investigating the options-market operator’s oversight of traders.
http://goo.gl/gj4W6

3/13/12 (USA) Mithras Investment Trust, chairman Mike Wooderson will step down
http://goo.gl/UjO2e

3/13/12 (USA) PHH Mortgage, President Luke Hayden resigned from to pursue what the company calls “other interests.” http://goo.gl/iaqQf

3/13/12 (USA) PHH Mortgage, Treasurer Mark Johnson.resigned
http://goo.gl/iaqQf

3/13/12 (AUSTRALIA) WESTPAC, head of corporate affairs after David Bell decided to step down from the role. Bell is the latest top executive to leave the bank.
http://goo.gl/FntUz

3/13/12 (UK) Capula’s Systemic Trading Head Qiang Dai to Leave Fund
http://goo.gl/zkrN2

3/13/12 (UAE) National Bank of Abu Dhabi, CEO Michael Tomalin, will retire from the post in a few months.
http://goo.gl/dzBW8

3/13/12 (ISRAEL) Osem Investments Ltd, CEO Gazi Kaplan has tendered his resignation, effective April 2, citing heath reasons. Nestlé SA owns 58.8% of Osem.
http://goo.gl/t032l

3/13/12 (USA) Paulson & Co.’s, partner and head of the global bank team Robert Lacoursiere has quit to form his own hedge fund
http://goo.gl/I8UNd

3/13/12 (AUSTRALIA) ASX Ltd, Chairman David Gonski will step down from his role at Australia’s main stock market operator after being appointed to oversee almost A$90 billion ($95 billion) in the nation’s sovereign-wealth funds.
http://goo.gl/gJN33

3/13/12 (UK) JP Morgan, Asset Management European chief Jamie Broderick is to step down more than 20 years at the firm.
http://goo.gl/MV65V

3/13/12 (UK) SVG Chairman Nicholas Ferguson retires.
http://goo.gl/hTDDY

3/13/12 (UK) SVG Director Edgar Koning retires.
http://goo.gl/hTDDY

3/13/12 (UK) SVG Director Denis Raeburn retires.
http://goo.gl/hTDDY

3/13/12 (UK) SVG Director Francis Finlay retires.
http://goo.gl/hTDDY

3/14/12 (UK) Goldman Sachs, executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa, Greg Smith, is resigning today.
http://americankabuki.blogspot.com/2012/03/why-i-am-leaving-goldman-sachs.html

3/14/12 (SOUTH AFRICA) ABSA chairman Garth Griffin to retire
http://goo.gl/Mhjb5

3/14/12 (UK)  WorldSpreads, CEO Conor Foley  resigns
http://goo.gl/GgT4z

3/15/12 (US WA) HomeStreet Bank, EVP and CFO  David Hooston  resigns
goo.gl/UUlc0

3/15/12 (DENMARK)  Sparekassen Faaborg board member  Steen Grønved Nielsen  resigns
http://tinyurl.com/6rd3m74

3/15/12 (UK)  RBC Capital Markets head of SSA syndicate desk Noel Williams  resigns
http://tinyurl.com/7zcf4z8

3/15/12 (UK)  Novia London sales manager Dave Chassell  quits
http://tinyurl.com/7gx6sn2

3/15/12 (US CA)  Prosper Finance (online venture captial services) CEO  Chris Larsen  steps down
http://tinyurl.com/6lhu8xx

3/15/12 (UK)  The Royal British Legion’s (fund) director of corp. communications  Stuart Gendall  resigns
http://tinyurl.com/7bhtysl

3/15/12 (IRELAND)  President of Sinn Fein USA (fund)  Larry Downes  steps down
http://tinyurl.com/7uqnwcg

3/16/12 (AUSTRALIA)  Investorfirst CFO and company secretary  Ariel Sivikofsky resigns
http://tinyurl.com/7jdshty

3/16/12 (MALAYSIA)  Amanah Raya Bhd (trust) managing director  Datuk Ahmad Rodzi Pawanteh  steps down
http://tinyurl.com/7wbujpm

3/16/12 (UK) Towry (investment & fin. advice)  Non-exec chairman Glyn Jones steps down
http://tinyurl.com/83g3y8b

3/16/12 (GERMANY)  Deutsche Bank Chief risk officer (CRO)of  Hugo Bänziger  steps down
http://tinyurl.com/7pmal9k

3/16/12 (US IL)  Henderson Global Investors Inc. head of the International Opportunities Fund  Iain Clark  steps down
http://tinyurl.com/7kfxz3j

3/16/12 (US CA)  Executive VP and Chief Compliance Officer of Heritage Bank of Commerce  Margaret Incandela  resigns
http://tinyurl.com/6wcaqaz

3/16/12 (US VA)  Genworth Financial board member  J. Robert Kerrey  resigns to campaign for senate seat
http://tinyurl.com/7566f74

3/16/12 (UK)  CEO of the FSA (Financial Services Authority)  Hector Sants  to leave
http://tinyurl.com/7av7v5n>

3/19/12 (US IA)  ISU Foundation (fund), President and CEO of the  Dan Saftig  to step down
http://tinyurl.com/7jvb24x

3/19/12 (BRAZIL)  HSBC Brazil CEO Conrado Engel  steps down
http://tinyurl.com/89uayoo

3/19/12 (UAE)  Finance head at SNR Denton Islamic  Sheikh Muddassir Siddiqui  resignsto pursue advisory role
http://tinyurl.com/84avxch

3/19/12 (SWITZERLAND)  Julius Baer bank’s chairman  Raymond Baer  steps down in a “surprise departure”
http://tinyurl.com/84gcl3z

3/19/12 (GERMANY) Deutsche Bank, asset management chief  Kevin Parker  to leave executive committee
http://goo.gl/ahZlJ

3/19/12 (GERMANY) Deutsche Bank, head of private wealth management Pierre de Weck resigns from executive committee
http://goo.gl/wRZkU

3/19/12 (HONG KONG)  China Development Bank HK branch CEO  Di Weiping  retires
http://tinyurl.com/7xcskmp

3/19/12 (US ID)  SunTrust Bank president and CEO  Thomas Rueger  to retire
http://tinyurl.com/7n2l6sr

3/19/12 (SWEDEN)  AP6 (private equity) CEO  Marianne Dicander Alexandersson steps down
http://tinyurl.com/7bnvygp

3/19/12 (SWITZERLAND)  FINMA (Swiss Financial Market Supervisory Authority)  Vice-chair Monica Mächler  to step down
http://tinyurl.com/7r9akho

3/20/12 (KUWAIT)  National Investments Co. chairman  Yousef Al Majid  resigns
http://tinyurl.com/7maw3xx

3/20/12 (UK)  Bank of America, Co-head of distressed debt at  Michael Guy  resigns
http://tinyurl.com/75eml6v

3/20/12 (US PA)  Penseco Financial Services Corp, Former state senator Robert J. Mellow resigns from board
http://tinyurl.com/6rxqeo9

3/20/12 (US TX)  Acquisition chief Dan Magder  quits Lone Star Investments
http://tinyurl.com/6qm2rj4

3/20/12 (NIGERIA)  Chairman of House Committee on Capital Markets  Hon. Herman Hembe  resigns due to allegations of bribery
http://tinyurl.com/7r6dk54

3/20/12 (Hong Kong)  Head of Deutsche Bank Asia-Pac  Loh Boon Chye quits
http://tinyurl.com/6muckmq

3/20/12 (US NY)  Deutsche Bank, head of asset management  Kevin Parker  steps down from executive committee
goo.gl/4NO66

3/20/12 (GERMANY) Deutsche Bank, Chairman and CEO  Josef Ackermann exits with pension of €18.7 million
http://goo.gl/eiF39

3/20/12 (UK) Coller Capital, CEO Charles Hippsley has left to help lead a Christian organisation in London.
http://goo.gl/rVFz0

3/21/12 (GERMANY)  Deutsche Bank AG, Co-head Wolfgang Hammes  leaves
http://tinyurl.com/74ks8jk

3/21/12 (UK)  Aviva Investor’s European equity head  John Botham  exits
http://tinyurl.com/7qwlc26

3/21/12 (CANADA)  National Bank’s Ontaria, Atlantic region manager  Mike Miller leaves
http://tinyurl.com/7kq4bdp

3/21/12 (UK)  Royal Bank of Scotland Group’s global head of equity prime services  Gregory Wagner  resigns
http://tinyurl.com/6vz8f8k

3/21/12 (US DC)  Liquidity Services Inc, Chief information officer Eric Dean  resigns
http://tinyurl.com/7v2c4ku

3/22/12 (UK)  Global equity head Neil Rogan  resigns from Henderson Global Investors
http://tinyurl.com/7v2c4ku

3/22/12 (NETHERLANDS) CIO at Nedlloyd Pension Fund  Bert Tibben  step down
http://goo.gl/NHE94

3/22/12 (UK) Bank of America Corp, chairman of global banking and markets, Andrea Orcel steps down, goes to UBS
http://goo.gl/AVXL2

3/22/12 (UK) Bank of America Corp, Jonathan Moulds steps down, helped build the bank’s over-the-counter derivatives trading business and held positions including global head of rate derivatives trading, head of global derivatives and head of global rates and commodities.
http://goo.gl/AVXL2

3/25/12 (EGYPT) National Bank of Egypt, CEO Tarek Amer said that he will step down from his position at the end of 2012.
http://goo.gl/tC7Ma

It is not however just the number of resignations, but more interesting is the nature of how a lot of these players are exiting.  Consider this very revealing OP-ED piece from the New Times Opinion Page, which appeared on 14 March.  It is like the saying, when it walks like a duck, talks like a duck, and now THE DUCK himself says it’s a duck.  Well, you be the judge.

Op-Ed Contributor – New York Times Opinion Section

Why I Am Leaving Goldman Sachs By GREG SMITH, Published: March 14, 2012

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.

It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. It wasn’t just about making money; this alone will not sustain a firm for so long. It had something to do with pride and belief in the organization. I am sad to say that I look around today and see virtually no trace of the culture that made me love working for this firm for many years. I no longer have the pride, or the belief.

But this was not always the case. For more than a decade I recruited and mentored candidates through our grueling interview process. I was selected as one of 10 people (out of a firm of more than 30,000) to appear on our recruiting video, which is played on every college campus we visit around the world. In 2006 I managed the summer intern program in sales and trading in New York for the 80 college students who made the cut, out of the thousands who applied.

I knew it was time to leave when I realized I could no longer look students in the eye and tell them what a great place this was to work.

When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival.

Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet, five of the largest asset managers in the United States, and three of the most prominent sovereign wealth funds in the Middle East and Asia. My clients have a total asset base of more than a trillion dollars. I have always taken a lot of pride in advising my clients to do what I believe is right for them, even if it means less money for the firm. This view is becoming increasingly unpopular at Goldman Sachs. Another sign that it was time to leave.

How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.

What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.

Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all.

It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” sometimes over internal e-mail. Even after the S.E.C., Fabulous Fab, Abacus, God’s work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.

It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are.

These days, the most common question I get from junior analysts about derivatives is, “How much money did we make off the client?” It bothers me every time I hear it, because it is a clear reflection of what they are observing from their leaders about the way they should behave. Now project 10 years into the future: You don’t have to be a rocket scientist to figure out that the junior analyst sitting quietly in the corner of the room hearing about “muppets,” “ripping eyeballs out” and “getting paid” doesn’t exactly turn into a model citizen.

When I was a first-year analyst I didn’t know where the bathroom was, or how to tie my shoelaces. I was taught to be concerned with learning the ropes, finding out what a derivative was, understanding finance, getting to know our clients and what motivated them, learning how they defined success and what we could do to help them get there.

My proudest moments in life — getting a full scholarship to go from South Africa to Stanford University, being selected as a Rhodes Scholar national finalist, winning a bronze medal for table tennis at the Maccabiah Games in Israel, known as the Jewish Olympics — have all come through hard work, with no shortcuts. Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.

I hope this can be a wake-up call to the board of directors. Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist. Weed out the morally bankrupt people, no matter how much money they make for the firm. And get the culture right again, so people want to work here for the right reasons. People who care only about making money will not sustain this firm — or the trust of its clients — for very much longer.

Greg Smith is resigning today as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.

All I can say is I expect an exciting next few months.  I also think it needs to be said here that it also appears that there is a major effort by some very courageous people (like Greg Smith), who are taking great personal risk, to assist in this “cleansing”.  We owe them a large debt of gratitude.

Is There a Major Change in Global Financial Markets Just Around the Corner?

Since the economic crash in 2008, much has surfaced as to how it happened, who was involved, the reaction of regulators, The President and Congress.  What amazed me in the months following the implosion, nothing seemed to materialize, either in the way of criminal actions or new regulations.

It was at this point, I began my blog.  I needed to look deeply into the situation and see what I could discover.  I have written over 100 articles outlining my findings.  What I have spent nearly the last two months doing was following and trying to validate some amazing stories that were circulating the internet concerning the financial cabal and the fact it was under attack by some unknown forces.

The whole story was first introduced by Benjamin Fulford, who was a Forbes Business Editor in Japan.  You can learn all about Benjamin here, http://benjaminfulford.net/.  To say the least, Benjamin’s story is on the surface, was too much to believe.  Although I must say, over time, I began to see that while I could  not accept the whole of Benjamin’s story, there were events unfolding in real-time, that were similar to Benjamin’s previous statements as to what would occur in the near future.

Then last month, the well known writer and a New York Best Selling Author, David Wilcox did an exhaustive piece on his blog which you can find here, Financial Tyranny – Defeating the Greatest Cover-Up of All Time.  Again, most of this article was mind-blowing to say the least, but again there was hard evidence presented for some of the key points that was undeniable, but accepting the whole premise was a bit too much for me.

So for me the bottom line was there has to be proof that this financial cabal is collapsing.  This started my two months of investigating on my own.  What I found I have outlined in detail below.  Forgive the long article, but to see it all, you must know it all.

Since September of 2011, I have been tracking and following the major players in the global financial arena.  If there was any weight to what Fulford and Wilcox were saying, the rats would be jumping ship.  Honestly, I thought I would find normal patterns of revolving doors and resignations.  I will let you be the judge of what I uncovered as a matter of public record and verified reporting.  I started first in the US.

Over 20,000 resignations/house arrests are visible using data from the SEC Securities and Exchange Commission.  The Securities Exchange Act of 1934 requires that publicly traded companies must report to the SEC whenever members of the Board or certain officers resign. Also, the SEC has a database named EDGAR that is open to the public. After a little research, what was discovered is that corporations must report said resignations on Form 8-K, Item 5.02. From there, it was a simple matter of searching only Form 8-Ks within a specific range of dates, and including the boolean search terms “Resigns” and “Resignation”.

From the start of 2008 to the second quarter of 2011 the resignations remained steady @ about 2000 per quarter. Suddenly in the 3rd quarter of 2011 they increased by 50% to 3000 for that quarter. (That’s an extra 1000). Then in the 4th quarter they jumped to 7000. (That’s an additional extra 5000 resignations). Now without the full quarter results for the first quarter of 2012 they are up to 16,000. (That’s an extra 14,000 resignations & increasing fast).  That’s a total of 20,000+ extra resignations that no one is reporting in news papers & nothing of course in the major media!

OK, well that is interesting, but how does this hold-up on the international scene.  First of all I want to thank americankabuki.blogspot.com and Gabriel@ Facebook Global Mass Resignations for doing an immense amount of research that was invaluable to my effort, and I am indebted to their willingness to share it so freely.

What we uncovered…

358 MAJOR RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS
Abreviations used:
CEO = Chief Executive Officer, CFO = Chief Financial Officer, CIO = Chief Investment Officer, COO = Chief Operating Officer
INC = Incorporated (can be private held or publically traded shares)
PLC = Public Limited Company (publicly traded shares can be listed or unlisted on stock market)
LTD = Limited Company (privately held)
LLC = American version of LTD, but can have a shareholder/member that is an INC, often hybrids of both
AG = German version of PLC
AB = Swedish version of PLC
SA = Society Anonymous in various Latin languages – same as PLC
NV = Dutch version of PLC
BV = Dutch version of LTD
LP = Limited Partners (partnership with limited liability)
REIT = Real Estate Investment Trust
Click here to scroll to latest additions to list from AmericanKabuki, then scroll up.

1. 9/01/11 (USA NY) Bank of New York Mellon Chief Robert P. Kelly Resigns in a Shake-UP.  Bank of New York Mellon’s chief executive and chairman, Robert P. Kelly, stepped down late Wednesday because of “differences in approaches to managing the company,” the bank said. Pressure on the bank has been growing for months.  Kelly’s departure — the sudden, shocking resignation of a star CEO  (editor note: #2 among CEO compensation in the banking industry)– has received remarkably little attention or explanation.
   http://goo.gl/NdW7q
2. 9/06/11 (BELGIUM) Dexia confirmed that its CEO Stefaan Decraene had left the company. Its exposures to sovereign debt in the PIIGS nations are larger than its core Tier 1 capital.  Dexia’s CEO Resigns Suddenly – by Erin Davis | 06 Sep 11

On Monday, Dexia confirmed that its CEO Stefaan Decraene had left the company and will be replaced by Jos Clijsters, an executive at the bank since January and a former senior executive at the failed bank Fortis.

We continue to think that Dexia is the most troubled publicly traded bank in the eurozone outside of Greece. Its exposures to sovereign debt in the PIIGS nations are larger than its core   Tier 1 capital, it has an inadequate deposit base to support its loan book, and it is overly leveraged, in our opinion. We think Dexia is likely to undertake a highly dilutive capital raise, and           wonder if it might come sooner rather than later given the management change.            http://goo.gl/vuhvd

1. 9/09/11 (GERMANY) European Central Bank (ECB) governing board member Jürgen Stark, who has resigned.  The dramatic resignation of a senior European central banker sent stock markets plunging, amid fears that Greece is on the brink of default and the fragile consensus in Berlin over support for the ailing Italian and Spanish economies was close to disintegration.

Bank stocks, down more than 5% in some cases, were the worst affected as the Dow Jones        dropped almost 3% to below 11,000. European exchanges joined the panic with the FTSE falling more than 100 points to 5230.  Speculation that several French and German banks would soon   embark on massive capital raising schemes to offset write-offs on holdings of Greek debt, added            to the febrile atmosphere.    Stark “and his wife, Christine, whom he married in 1973, have a retirement house on the Baltic Sea. http://goo.gl/t83S4

1. 9/12/11 (HONG KONG) HSBC Group Hang Seng Bank Non-Executive Director Mark McCombe resigns.  In a release, the Board of Directors of Hang Seng Bank Limited hereby announces that following his resignation from the HSBC Group, Mr. Mark S McCombe has tendered his resignation as a Non-executive Director of the Bank with effect from 9 September 2011.

Mr.  McCombe has confirmed that he has no disagreement with the Board and that he is not     aware of any matter relating to his resignation that needs to be brought to the attention of the    shareholders of the Bank. Mark moved to BlackRock Asian Operations.  http://goo.gl/mCTgi

1. 9/14/11 (USA NJ) Columbia Bank CEO Raymond G. Hallock Announces Retirement
   http://goo.gl/UjUZY
2. 9/14/11 (NEW ZELAND) AMP NZ Office Limited (ANZO), Mark Verbiest has resigned as a director. His resignation arises due to his desire to devote the necessary time and energy to his prospective new role as Chairman of Telecom, assuming the Telecom demerger is sanctioned by Telecom shareholders.
   http://goo.gl/LjSI0
3. 9/15/11 (USA NY) Morgan Stanley, Chairman John Mack resigns.  Mack, 66, joined Morgan Stanley in 1972 as a bond salesman and worked his way up through the ranks to become president and chief operating officer of Morgan Stanley Dean Witter in 1997. Mack will retire from a full-time role but remain a senior adviser to Morgan Stanley. http://goo.gl/jWWv7
4. 9/18/11 (JORDAN) Central Bank governor Faris Sharaf resigns over policy.  They did not disclose the reasons for the surprise resignation of Sharaf, who took the five-year post last November.

But bankers and some officials say Sharaf was enraged by an appeasement policy adopted by   the government to win over disgruntled public sector employees in the wake of Arab unrest that endangered the country’s financial and monetary stability.

Bankers say Sharaf, a highly respected financial expert who had senior posts in the banking and                financial industry, has increasingly voiced privately his alarm at the government’s expansionary            fiscal policy.   A bit of fuel was added to the fire when Faris Sharaf’s mother, Leila Sharaf,           resigned from her post in the Senate the very next day, stating that she will not be part of a         “corrupted government”. Leila claims her son was “removed” for attempting to combat              corruption and also voiced her displeasure over the way her son was “removed” from office,             claiming that the bank was surrounded by armed guards who supposedly were there to keep   him from entering. http://goo.gl/8yU5N

1. 9/20/11 (SCOTLAND) SCOTTISH WIDOWS (RETIREMENT INVESTMENT SAVINGS FUND) There could be no Scottish representative on the board of Lloyds Banking Group, owner of Bank of Scotland, in future after it announced the departure of Lord Sandy Leitch, the chairman of Scottish Widows and group deputy chairman.  Less than a year after Labour first won power in 1997, Sandy Leitch was invited to No10 for breakfast with other business leaders.  He went on to run several Labour projects, becoming one of Mr Blair’s most trusted business advisers.  His reward came in 2004 – the same year he left Zurich – when he was made a Labour peer, becoming Baron Leitch of Oakley in Fife. The multi-millionaire entrepreneur was introduced into the Lords by Mr Blair’s chief fundraiser, Lord Levy.  But Lord Leitch, 60, has maintained links with Gordon Brown’s government, donating £5,000 last year to his leadership campaign.  http://goo.gl/Dx8qs
   1. 9/21/11 (AUSTRALIA & NZ) JP Morgan Australia and New Zealand Worldwide Securities Services CEO Jane Perry resigned
      http://goo.gl/Qx0Va
   2. 9/25/11 (SWITZERLAND) UBS  CEO Oswald Gruebel quits over £1.5bn rogue trader crisis.  The head of the Swiss bank at the centre of the rogue trading scandal resigned yesterday after telling colleagues it was his duty to take responsibility for the £1.5 billion loss.

UBS chief executive Oswald Gruebel stepped down from his £1.9 million-a-year job in an             attempt to limit further damage to the bank’s reputation.  http://goo.gl/WCeqB

1. 9/25/11 (USA CA) Douglas E. Tow, Executive Vice President and Chief Credit Officer, will retire from American River Bankshares (NASDAQ: AMRB) .  Mr. Tow has made the decision to retire in order to pursue personal interests. http://goo.gl/24aAU
2. 9/28/11 (SWITZERLAND) SNB Bank Council: Fritz Studer resigns as per end-April 2012
   http://goo.gl/7dNiD
3. 9/29/11 (JAPAN) BLIFE Investment Corporation, Asset Manager Director Masaomi Yamadaira resigned.
   http://goo.gl/Vsmk3
4. 9/29/11 (UK) Barclays, Head of UK & European Retail Banking Deanna Oppenheimer resigned.
   http://goo.gl/o63jO
5. 9/29/11 (USA NM) New Mexico Pension Fund Director Terry Slattery Resigns
   http://goo.gl/BzLn4
6. 9/30/11 (SINGAPORE) AIMS AMP CAP INDUSTRIAL REIT, Ms Tang Buck Kiau resigned.
   http://goo.gl/VGxjv
7. 10/01/11 (USA MO) Federal Reserve Bank of Kansas City President Thomas M. Hoenig retired on Oct. 1, 2011
   http://goo.gl/B8WK7
8. 10/03/11 (INDIA) The of Euram Bank Asia, president Arun Panchariya, has resigned after being implicated in a stock trading scandal in India.
   http://goo.gl/yh2bF
9. 10/03/11 (GHANA) Intercontinental Bank Ghana Limited, Managing Director and CEO Albert Mmegwa resigned.
   http://goo.gl/Vc252
10. 10/03/11 (USA FL) Quantek Opportunity Fund, portfolio manager Javier Guerra. Arbitration awarded $1 million damages to Aris Multi-Strategy Fund. Quantek Asset Management made false statements to Aris.
    http://goo.gl/udpBA
11. 10/05/11 (UK) UBS co-chief François Gouws of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.
    http://goo.gl/OuUjr
12. 10/05/11 (UK) UBS co-chief Yassine Bouhara of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.
    http://goo.gl/OuUjr
13. 10/10/11 (BELGIUM) Dexia (Franco-Belgian bank) its chairman Jean-Luc Dehaene will give up his role on the board of Dexia’s Belgian division, which is being sold to the Belgian state as part of a rescue deal, the group said on Monday.
    http://goo.gl/vyldE
14. 10/11/11 (UK) BlackRock, head of sterling portfolios and manager of the Corporate Bond fund, Paul Shuttleworth, has resigned after 11 years at the firm.
    http://goo.gl/FMBjw
15. 10/11/11 (UK) Dynamic Funds, portfolio manager David Taylor has resigned.
    http://goo.gl/GZCt5
16. 10/11/11 (CHINA) China Construction Bank Non-Executive Direct Sue Yang resigns for personal reasons.
    http://goo.gl/ip8Un
17. 10/13/11 (UK) Cogent Partners co-head research department Katita Palamar resigned.
    http://goo.gl/TVLWO
18. 10/13/11 (UK) Cogent Partners co-head research department Bill Farrell resigned.
    http://goo.gl/TVLWO
19. 10/14/11 (USA TX) Deutsche Bank Investment Advisor Griffin Perry resigns, SEC regulations prevented him from campaigning for his father Rick Perry’s Presidential campaign.
    http://goo.gl/R0PgH
20. 10/23/11 (USA) Fairholme Capital Management LLC, Director Charles Fernandez stepped down for personal reasons. Fairholme Fund has lost 26 percent of its net asset value due to bets that have backfired on AIG Inc, Bank of America Corp and Florida-based landowner and developer St Joe Co.
    http://goo.gl/vzTbY
21. 10/24/11 (ICELAND) Icelandic State Financial Investments board members of Icelandic State Financial Investments have resigned following “outside interference” with their Sept. 30 decision to hire Pall Magnusson, the former political adviser to the island’s industry minister, as chief executive officer. [names and positions have been requested from the reporter on 3/9/12]
    http://goo.gl/lEpz2
22. 10/24/11 (SINGAPORE) Keppel Corporation Limited, Teo Soon Hoe will resign from his role as group finance director Jan 1.
    http://goo.gl/l90be
23. 10/26/11 (INDIA) Beed District Bank (Coop Bank) CEO B S Deshmukh arrested for embezzling Maharashtra State Electricity Distribution Company Ltd payment deposits.
    http://goo.gl/CXL7Z
24. 10/26/11 (INDIA) Beed District Bank (Coop Bank) former CEO A N Kulkarni arrested for embezzling Maharashtra State Electricity Distribution Company Ltd payment deposits.
    http://goo.gl/CXL7Z
25. 10/27/11 (USA NY) Keefe, Bruyette & Woods Inc (KBW) CEO John Duffy stepped aside. Duffy has prostate cancer.
    http://goo.gl/i1s3E
26. 10/29/11 (CHINA) China Construction Bank Corp Chairman Guo Shuqing resigns
    http://goo.gl/fdd9v
27. 10/29/11 (CHINA) Agricultural Bank of China Ltd Chairman Xiang Junbo resigns
    http://goo.gl/yWX9R
28. 10/31/11 (EUROPEAN COMMUNITY) European Central Bank President Jean-Claude Trichet, resigns.
    http://goo.gl/ygG59
29. 11/01/11 (INDIA) Beed District Bank (Coop Bank More directors resign [research still being conducted on the names]
    http://goo.gl/HD8BQ
30. 11/02/11 (UK) Lloyds Banking Group chief executive, António Horta-Osório, is to take leave of absence on health grounds for six to eight weeks, the BBC has reported. (STILL OUT AS OF 2/24/12 – DEFACTO RESIGNATION)
    http://goo.gl/3L9gE
31. 11/03/11 (POLAND) Nordea Bank Poland, Wlodzimierz Kicinski resigned from as President of the Management Board of Nordea Bank Poland as of the 10th of November.
    http://goo.gl/oKUVZ
32. 11/04/11 (USA NY) MF Global, Jon Corzine, stepped down as chairman and CEO, hired criminal attorney to represent him.
    http://goo.gl/tUaVY
33. 11/07/11 (SINGAPORE) Singapore Mercantile Exchange (SMX), CEO Framroze Pochara quits.
    http://goo.gl/eum87
34. 11/08/11 (SINGAPORE) The Singapore Fund, Inc, Austin C. Dowling has resigned as Director of the Fund
    http://goo.gl/bCUhI
35. 11/09/11 (USA NY) HSBC Israeli desk, managing director Issac Doueck resigned.
    http://goo.gl/zuCJE
36. 11/09/11 (ISRAEL) HSBC Israeli desk, senior representative Simon Hakim resigned.
    http://goo.gl/zuCJE
37. 11/09/11 (SWITZERLAND) HSBC Israeli desk, head of Israel Dan Sagi resigned.
    http://goo.gl/zuCJE
38. 11/09/11 (USA NY) HSBC Israeli desk, ????? resigned.
    http://goo.gl/zuCJE
39. 11/09/11 (USA NY) HSBC Israeli desk, ????? resigned.
    http://goo.gl/zuCJE
40. 11/10/11 (EUROPEAN COMMUNITY) European Central Bank Lorenzo Bini Smaghi resigned from the European Central Bank’s Executive Board.
    http://goo.gl/Invjc
41. 11/11/11 (HONG KONG) Goldman Sachs’ Asia Pacific co-head Yusuf Alireza is retiring from the investment bank after 19 years
    http://goo.gl/pejs3
42. 11/10/11 (INDIA) UBS The head of India operations at UBS AG , Manisha Girotra, has resigned
    http://goo.gl/3aTh2
43. 11/15/11 (USA NY) Icahn Enterprises LP, senior managing director of health-care investing, Alex Denner, has resigned.
    http://goo.gl/X1A4i
44. 11/16/11 (EUROPEAN COMMUNITY) International Monetary Fund Europe, director Antonio Borges resigns for personal reasons.
    http://goo.gl/55CqZ
45. 11/17/11 (NETHERLANDS) Syntrus Achmea (pensions manager), CIO Marjolein Sol is resigning.
    http://goo.gl/Xqxsr
46. 11/18/11 (SCOTLAND) Scottish Widows Investment Partnership Limited (SWIP) Private Equity Fund, wish to announce the resignation of John Brett from the Board of Directors of the Company, for business reasons.
    http://goo.gl/MLsp8
47. 11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui to Resign
    http://goo.gl/OiDiq
48. 11/23/12 (USA SC & NC) Bank of the Carolinas, CFO Eric Rhodes resigns for personal reasons. Bank of the Carolinas was delisted from the NASDAQ on 3/9/12
    http://goo.gl/oytcD
49. 11/24/12 (IRELAND) AXA Rosenberg Management Ireland Limited, director Simon Vanstone resigns.
    http://goo.gl/x5Fl6
50. 11/28/11 (LATVIA) Latvia’s chief banking regulator, Irena Krumane, said she resigned today, a week after the state took over Latvijas Krajbanka AS (LKB1R), the Baltic News Service reported. The bank regulator suspended operations at Krajbanka, a subsidiary of Lithuania’s Bankas Snoras AB, on Nov. 21 and said around 100 million lati ($191.8 million) was missing. The Lithuanian government seized Snoras on Nov. 16 saying assets reported on the lender’s balance sheet were missing.
    http://goo.gl/mUvLF
51. 11/29/11 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorp. and Seneca National Bank
    http://goo.gl/XncOc
52. 11/29/11 (NORWAY) Carnegie ASA’s co-head of investment banking in Norway, Cato Holmsen, has resigned
    http://goo.gl/utIfy
53. 11/29/11 (FRANCE) AXA Real Estate Investment Managers, Global head of business development, strategy and research for Kiran Patel, has handed in his resignation. Patel was with the firm for 11 years.
    http://goo.gl/iGjB6
54. 11/30/11 (LITHUANIA) Lithuania Central Bank, Governor Vitas Vasiliauskas fired Kazimieras Ramonas, head of the banking supervision department, after seizing Bankas Snoras AB, the country’s third-biggest deposit bank.
    http://goo.gl/EiqUC
55. 12/01/11 (SRI LANKA) Sri Lanka’s Securities and Exchange Commission (SEC) head Indrani Sugathadasa resigned.
    http://goo.gl/6qzny
56. 12/02/11 (PAKISTAN) NIB Bank, Singapore forced resignation of CEO Khawaja Iqbal Hassan, for mismanagement
    http://goo.gl/ojDcu
57. 12/03/11 (USA SC) South Carolina’s $25 billion pension fund chief investor Robert Borden resigned. Borden’s resignation comes as the SC Retirement System faces a $13 billion deficit, prompting state lawmakers to call for a massive overhaul of the system.
    http://goo.gl/ypK2G
58. 12/05/11 (BERMUDA) HSBC Bermuda Ltd, chairman of the board and director John Campbell resigns
    http://goo.gl/peFGD
59. 12/05/11 (BERMUDA) HSBC Bermuda Ltd, CEO  Philip Butterfield retires
    http://goo.gl/peFGD
60. 12/06/11 (USA ) Western Liberty Bancorp CFO George Rosenbaum has resigned.
    http://goo.gl/ozuwB
61. 12/08/11 (USA) Fidelity Global Special Situations Fund, manager Jorma Korhonen resigned.
    http://goo.gl/a7Rhw
62. 12/08/11 (INDIA) Nomura’s co-head of equity-linked solutions Neeraj Hora, resigns
    http://goo.gl/WYcjR
63. 12/14/11 (MAURITIUS) African Alliance Africa Pioneer Fund I (the “Fund”), Portfolio Manager Paul David Austin Clark resigned
    http://goo.gl/YiagF
64. 12/14/11 (USA NY) Goldman Sachs global head Milton R. Berlinski retiring at the end of the year
    http://goo.gl/Xj0l4
65. 12/15/11 (UK) Coutts [private bank] Senior private banker James Fleming resigns
    http://goo.gl/ANN5B
66. 12/19/11 (CANADA) Holloway Lodging Real Estate Investment Trust (a REIT) CEO Glenn Squires has resigned
    http://goo.gl/8rAKb
67. 12/19/11 (JAPAN) Citibank Japan CEO, Darren Buckley, resigns after Citibank was punished by regulators for the third time in seven years.
    http://goo.gl/ScT47
68. 12/19/11 (DENMARK) Danske Bank Peter Straarup, who will retire February 15
    http://goo.gl/06c2b
69. 12/19/11 (DENMARK) Danske Bank Eivind Kolding has resigned as Chairman of the Board of Directors and from the three board committees on which he served, He continues as member of Danske Bank’s Board of Directors until he assumes the position of Chairman of the Executive Board on 15 February 2012. On the same day, at the latest, Eivind Kolding will resign from the A.P. Moller-Maersk Group.
    http://goo.gl/06c2b
70. 12/20/11 (UK) Prudential (UK) Chairman Harvey McGrath has informed the Board of his intention to retire from the Board in 2012 once a successor has been found.
    http://goo.gl/IPOzf
71. 12/20/11 (USA MA) Century Bancorp, Inc., Director Roger S. Berkowitz resigned.
    http://goo.gl/bbdeT
72. 12/21/11 (USA MN) Voyager Bank, fired CEO trade accusations, New details have emerged in Voyager Bank’s firing of its CEO in a court filing that accuses him of defrauding the bank of $15 million. The former CEO, Timothy Owens, has sued the bank for wrongful termination and accused the bank of defaming him.
    http://goo.gl/3Q1Vg
73. 12/23/11 (USA VA)  Virginia National Bank (VNB) Chairman Mark Giles quits
    http://goo.gl/dFDpH
74. 12/23/11 (USA VA)  Virginia National Bank (VNB) Board Member Claire Gargalli quits
    http://goo.gl/kowkW
75. 12/23/11 (USA VA)  Virginia National Bank (VNB) Board Member Leslie Disharoon quits
    http://goo.gl/kstLp
76. 12/23/11 (USA VA)  Virginia National Bank (VNB) Board Member Neal Kassell quits
    http://goo.gl/NrrPZ
77. 12/23/11 (USA) Third Avenue Value Fund, co-manager Marty Whitman is leaving.
    http://goo.gl/iMe99
78. 1/01/12 (NIGERIA) United Bank for Africa Plc Victor Osadolor resigns
    http://goo.gl/b6AoA
79. 1/01/12 (ISRAEL) Israel’s Bank Leumi CEO Galia Maor steps down after 16 years
    http://goo.gl/xwlFt
80. 1/03/12 (GREECE) Marfin Popular Bank Public Co Ltd, Mr Eleftherios Hiliadakis has resigned from the Board of Directors.
    http://goo.gl/MuFa0
81. 1/03/12 (USA VA) Suffolk Bancorp president and CEO J. Gordon Huszagh steps down
    http://goo.gl/joExI
82. 1/03/12 (USA WI) Michael Falbo, president and CEO of Southport Bank, has resigned just six months after accepting the position.
    http://goo.gl/DP1uK
83. 1/03/12 (UK) Arbuthnot Banking Group: Neil Kirton resigned from the Board
    http://goo.gl/SKE7j
84. 1/03/12 (UK) Arbuthnot Banking Group: Atholl Turrell left the Board.
    http://goo.gl/bzZtQ
85. 1/05/12 (UK) Saunderson House [Private Bank] CEO Nick Fletcher steps down
    http://goo.gl/zvo1L
86. 1/05/12 (USA NY) Blackstone/GSO Senior Floating Rate Term Fund and Blackstone/GSO Long-Short Credit Income Fund announced that John R. O’Neill has resigned.
    http://goo.gl/ZiWGL
87. 1/07/12 (UK) Arab Banking Corporation Intl. Bank (ABCIB) Manama, Bahrain: ABCIB announced retirement of CEO Nofal Barbar from its London office.
    http://goo.gl/yF0Mm
88. 1/09/12 (SWITZERLAND) SNB Chairman Philipp Hildebrand resigns
    http://goo.gl/5qsUu
89. 1/09/12 (USA WASHINGTON DC) Whitehouse former banker and Chief of Staff William M. Daley resigned
    http://goo.gl/34F0B
90. 1/09/12 (USA NY) Morgan Stanley Chief Legal Officer Frank Barron retires.
    http://goo.gl/XYCwJ
91. 1/09/12 (SWITZERLAND) Temenos Group AG, provider of core banking software announced the resignation of Mark Austen as a member of the Board of Directors.
    http://goo.gl/l6QzM
92. 1/10/12 (USA IN) Security Bank of Springfield, president and CEO Steve Cour has announced plans to retire at the end of June.
    http://goo.gl/jFbYA
93. 1/11/12 (KAZAKHSTAN) BTA Bank, CEO Marat Zairov resigns for health reasons.
    http://goo.gl/yAHgr
94. 1/11/12 (SWITZERLAND) La Banque Privée Edmond de Rothschild, CEO Claude Messulam resigns, replaced by Christophe de Backer, Claude Messulam to become a director of the bank holding company.
    http://goo.gl/vWr3i
95. 1/12/12 (USA) Goldman Sachs, Co-Head Securities Trading Edward K. Eisler retires
    http://goo.gl/i2TVk
96. 1/12/12 (USA) Goldman Sachs, Co-Head Securities Trading David B. Heller retires
    http://goo.gl/i2TVk
97. 1/13/12 (IRELAND) National Asset Management Agency, head of lending Graham Emmett is resigning
    http://goo.gl/GN3h3
98. 1/13/12 (USA DC) World Bank, Vice President for Africa, Oby Ezekwesili will retire from her position at the World Bank in May.
    http://goo.gl/fiUsU
99. 1/17/12 (CANADA) Cumberland Private Wealth Management CIO John Wilson quit to join another money manager.
    http://goo.gl/3JuNJ
100. 1/17/12 (HONG KONG) Oversea-Chinese Banking Corporation Limited (OCBC Bank) CEO David Conner retires.
     http://goo.gl/83Z1i
101. 1/17/12 (UK) Morgan Stanley Intl, chairman Walid Chammah is retiring. An inside source speculated that it could mean that the company had suffered exposure to European sovereign debt woes under Chammah’s purview.
     http://goo.gl/e7vS7
102. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Ali Yousef Al Awwadhy resigned.
     http://goo.gl/0PoIM
103. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Miss Anoud Fadhel Al Hathran resigned.
     http://goo.gl/0PoIM
104. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Tarek Farid Al Othman resigned.
     http://goo.gl/0PoIM
105. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Salem Ali Hassan Al Ali resigned.
     http://goo.gl/0PoIM
106. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Majed Ali Oweid Awadh resigned.
     http://goo.gl/0PoIM
107. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Badr Suliman Al Ahmed resigned.
     http://goo.gl/0PoIM
108. 1/18/12 (USA) Goldman Sachs co-heads of Goldman’s securities business David Heller resigns.
     http://goo.gl/TMHvx
109. 1/18/12 (USA) Goldman Sachs co-heads of Goldman’s securities business Edward Eisler resigns.
     http://goo.gl/TMHvx
110. 1/18/12 (USA) Goldman Sachs co-head of its investment management division Ed Forst resigns.
     http://goo.gl/TMHvx
111. 1/19/12 (UK) Santander, senior director Americas division Francisco Luzón is retiring with a pension pot of about €56m, a package whose generous size is expected to reignite controversy over bankers’ remuneration.
     http://goo.gl/XMRvP
112. 1/19/12 (EGYPT) Beltone Financial Holding (BTFH) Alaa’ Sabaa resigned from board of directors.
     http://goo.gl/5Eze1
113. 1/19/12 (EGYPT) Beltone Financial Holding (BTFH) Wael EL Mahgary resigned from board of directors.
     http://goo.gl/5Eze1
114. 1/20/12 (USA NY) JPMorgan Chase, Mortgage Banking Default organization head Scott Powell has decided to leave the bank.
     http://goo.gl/TCYpT
115. 1/20/12 (JAPAN) Normura’s head of wholesale banking Jasjit Bhattai quits
     http://goo.gl/6FuWe
116. 1/20/12 (SOUTH AFRICA) First National Bank’s sharia banking division is in a state of flux after it was hit by a corporate governance scandal in which its chief executive, Ebi Patel, was put on “special leave” for almost a month while an internal probe was conducted. Patel has been reinstated, but is facing disciplinary action.  Islamic finance forbids the payment and receipt of interest (riba), and investment in some industries. Sharia law states that interest-bearing transactions result in economic ills such as unemployment and high inflation. Trading in derivatives and speculative investment are also forbidden. Sharia law requires all transactions to be backed by tangible assets.
     http://goo.gl/NmGJP
117. 1/20/12 (USA) TIAA-CREF executive vice president and president of Asset Management, Scott C. Evans resigned
     http://goo.gl/f6qLs
118. 1/20/12 (SOUTH AFRICA) South African deputy economic development minister Enoch Godongwana quit his post this week in the face of growing outrage in government circles about his involvement in a company that allegedly defrauded clothing factory workers of R100-million of their pension fund money.
     http://goo.gl/ZADvn
119. 1/21/12 (UK) Butterfield Private Bank head Danny Dixon Steps Down
     http://goo.gl/sdY1p
120. 1/21/12 (SINGAPORE) ANZ Asia’s private banking head Nina Aguas resigns as managing director of Asia-Pacific private banking.
     http://goo.gl/hlHvG
121. 1/21/12 (USA CA) Nara Bancorp (Now called BBCN) President and CEO Min Kim Resigns
     http://goo.gl/rcfJ3
122. 1/22/12 (KENYA) National Bank of Kenya’s (NBK) managing director, Mr Reuben Marambii, will resign before year end.
     http://goo.gl/c2n7r
123. 1/24/12 (IRELAND) Deutsche International Corporate Services Limited fund, Paul Shevlin resigned as a director
     http://goo.gl/OjZFF
124. 1/24/12 (SWITZERLAND) Global Fund to Fight AIDS, Tuberculosis and Malaria, Dr. Michel Kazatchkine, a French clinical immunologist and head of the $22.6 billion fund has abruptly resigned, since revelations about corruption and misspending severely rattled some of its biggest donors. The resignation came on the eve of the World Economic Forum meeting in Davos, which played a role in its creation a decade ago. A dinner for the public-private fund is planned Thursday with U.N. Secretary-General Ban Ki-moon and major backers Bill Gates and the Bill & Melinda Gates Foundation. The shakeup resulted from an internal review to address problems highlighted in Associated Press stories last year about the loss of tens of millions of dollars in grant money because of mismanagement and alleged fraud. Its biggest private donor is the Bill & Melinda Gates Foundation, which has pledged $1.15 billion and provided it with $650 million so far.
     http://goo.gl/bqXs8
125. 1/25/12 (UK) SOFIA PROPERTY FUND LIMITED, Gerry Williams has resigned as a Director, following his resignation from Ardel Holdings Limited (“Ardel”) where he was CEO. Ardel is the holding company of Ardel Fund Services Limited which provides administration services in Guernsey to the Company.
     http://goo.gl/kDfVv
126. 1/25/12 (USA NY) Fortress Private Equity, CEO Daniel Madrid (aka Daniel Mudd) has resigned. Madrid was forced to leave in order to deal with SEC allegations. Prior to joining Fortress, Madrid served as Fannie Mae CEO and was forced to resign. SEC sued Madrid and former Freddie Mac CEO Richard West Long (aka Richard Syron) for hiding hundreds of billions of dollars in subprime loans. Madrid denied the SEC allegations saying the US govt. and investors were informed of Fannie Mae’s loan data.
     http://goo.gl/u9IdB and http://goo.gl/v94ik and http://goo.gl/tXQwP
127. 1/27/12 (SINGAPORE) AIMS AMP CAP INDUSTRIAL REIT, Mr Graham Sugden resigned.
     http://goo.gl/VZYHY
128. 1/27/12 (SOUTH AFRICA) ABSA Group COO Alfie Naidoo would be leaving to pursue personal interests
     http://goo.gl/cVWnA
129. 1/27/12 (SOUTH AFRICA) ABSA Group chief marketing and communication officer Happy Ntshingila, will be taking up an “exciting position” outside banking
     http://goo.gl/cVWnA
130. 1/27/12 (SOUTH AFRICA) ABSA Group CEO Daphne Motsepe retires at the end of April after a 10-year career at the bank.
     http://goo.gl/cVWnA
131. 1/29/12 (PORTUGAL) Banco Santander Totta SA executive chairman Nuno Manuel da Silva Amado has resigned
     http://goo.gl/Glvdn
132. 1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Gov Alan Bollard to Step Down
     http://goo.gl/BwUgv
133. 1/29/12 (UAE) NBD, Emirates ‘s investment banking division CEO Suresh Kumar is leaving the bank
     http://goo.gl/S1x0F
134. 1/30/12 (UK) British Private Equity and Venture Capital Association (BVCA) COO Andrew Graham steps down
     http://goo.gl/4SDW8
135. 1/31/12 (SCOTLAND) Royal Bank of Scotland former CEO Fred Goodwin Stripped of Knighthood
     http://goo.gl/CoLVS
136. 2/01/12 (SYRIA) Arab Bank Syria Board member Basma Talal Zein resigns.
     http://goo.gl/WXxzw
137. 2/01/12 (SOUTH AFRICA) ABSA [Barclay’s Bank] deputy CEO Louis von Zeuner resigns
     http://goo.gl/IP8nH
138. 2/01/12 (UK) Lloyds Bankging Group head of wholesaleTruett Tate quits
     http://goo.gl/OqRVo
139. 2/01/12 (UK) Llyods Banking Group Tim Tookey leaving end of February
     http://goo.gl/vjO5M
140. 2/02/12 (VENEZUELA) Banking Crisis Arne Chacon arrested for Banking Corruption
     http://goo.gl/bb5sh
141. 2/02/12 (USA) American Perspective Bank, President and CEO Thomas J. Beene resigned.
     http://goo.gl/K66eb
142. 2/02/12 (USA) NIR Group hedge funds, Corey Ribotsky was forced out of NIR by Pricewaterhouse-Coopers, the court-appointed liquidator, following allegations of fraud by the Securities and Exchange Commission. In September, the SEC sued Ribotsky and NIR for taking more than $1 million of investors’ money to buy cars and watches.
143. 2/02/12 (IRELAND) AXA Rosenberg Management Ireland Limited, director Nathalie Savey resigned.
     http://goo.gl/cXB8u
144. 2/03/12 (UK) VinaCapital Vietnam Opportunity Fund Ltd, Non-Executive Director Horst Geicke has resigned.
     http://goo.gl/r955T
145. 2/03/12 (UK) UBS London trader, Kweku M. Adoboli, was arrested and charged with fraud and false accounting, forcing UBS to announce a $2.3 billion trading loss.
     http://goo.gl/ClTaq
146. 2/05/12 (USA – NY) Morgan’s investment banking chairman Joseph Perella quit
     http://goo.gl/pG2jF
147. 2/05/12 (USA – NY) Morgan Stanley investment banking Tarek Abdel-Meguid quit
     http://goo.gl/bRv9K
148. 2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits:
     http://goo.gl/OhCEb
149. 2/06/12 (USA NY) TD Ameritrade, head of retail distribution John Bunch resigns. Bunch is leaving to take the top job at a small investment advisory firmin Kansas City.
     http://goo.gl/kgS7M
150. 2/07/12 (USA) Bank Of America’s Mortgage Business Chief Barbara Desoer Retires
     http://goo.gl/i7AUY
151. 2/07/12 (INDIA) Kotak Mahindra Bank Falguni Nayar quits
     http://goo.gl/fP03J
152. 2/07/12 (IRAN) Iran denies central bank resignation rumor (don’t believe until its denied?)
     http://goo.gl/PiQSy
153. 2/08/12 (SOUTH AFRICA) Standard Bank Group Ltd – Resignation of Group Secretary Loren Wulfsohn
     http://goo.gl/K1pfn
154. 2/08/12 (USA OH) Cleveland International Fund (CIF) private equity fund, A. Eddy Zai launched and led the Cleveland International Fund, an investment outfit that pairs wealthy foreign investors hoping for U.S. residency with job-creating projects. Zai resigned from his job this week, before being indicted in a bank-fraud scheme that, according to investigators, contributed to the collapse of a credit union in Eastlake.
     http://goo.gl/tgamf
155. 2/08/12 (UAE) Emirates NBD makes top-level changes Bank’s deputy chief executive officer Abdul Wahed Al Fahim has resigned.
     http://goo.gl/JUdNd
156. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 62 year old Monsignor Emilio Messina, the Archdiocese of Camerino-San Severino Marche investigated on money laundering by Italian officials.
     http://goo.gl/uztVU
157. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 49 year old Father Don Salvatore Palumbo of the socially popular parish of San Gaetano
     http://goo.gl/uztVU
158. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 37 year old Father Horace Bonaccorsi of Catania, already tried and acquitted in Sicily for money laundering offenses recycling money through accounts at IOR
     http://goo.gl/uztVU
159. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 85 year old Father Don Evaldo Biasini of Rome. Father Don Evaldo Biasini is known as the “Don of Cash”.
     http://goo.gl/uztVU
160. 2/09/12 (UKRAINE) National Bank of Ukraine deputy governor Volodymyr Krotiuk quits
     http://goo.gl/8BuXy
161. 2/09/12 (UK) JP Morgan Chinese Investment Trust PLC, non-executive Director Madam Yujiang Zhao resigned
     http://goo.gl/CPO23
162. 2/09/12 (UK) Alliance Trust Savings (ATS), Robert Burgess is stepping down as CEO.
     http://goo.gl/ohHG3
163. 2/10/12 (KOREA) Korea Exchange Bank chief Larry Klane steps down
     http://goo.gl/DBKdc
164. 2/10/12 (INDIA) Tamilnad Mercantile Bank CEO A K Jagannathan resigns
     http://goo.gl/wMl5g
165. 2/13/12 (KUWAIT) Kuwait Central Bank CEO Sheikh Salem Abdulaziz Al Sabbah resigns
     http://goo.gl/GFvIy
166. 2/13/12 (UK) Goldman Sachs confirmed on Monday that George N. Mattson, one of the firm’s top deal makers in the industrial sector, will retire. He was a senior relationship banker with a client list that included General Motors, General Electric and Caterpillar.
     http://goo.gl/vgnq2
167. 2/13/12 (HONDURAS) Honduras finance minister William Chong Wong, resigned on Monday after the International Monetary Fund (IMF) said the country did not reach its deficit and monetary targets for 2011.
     http://goo.gl/drgHY
168. 2/14/12 (NICARAQUA) Nicaraqua Central Bank President Antenor Rosales resigns
     http://goo.gl/iQ0n8
169. 2/14/12 (UK) Social finance pioneer Malcolm Hayday quits Charity Bank
     http://goo.gl/uHp6C
170. 2/14/12 (PAKISTAN) National Bank of Pakistan (NBP) chairman Syed Ali Raza resigned
     http://goo.gl/scexo
171. 2/14/12 (USA NY) Goldman Sachs Jeffrey Moslow resigns, an investment banker to companies such as Tyco International Ltd, Nstar, the Boston-based utility, and defense contractor Dyncorp International Inc.
     http://goo.gl/7h4O7
172. 2/15/12 (SOUTH AFRICA) HPA – Hospitality Property Fund Limited, chairman Frank Berkeley resigned.
     http://goo.gl/wJmpR
173. 2/15/12 (USA) Boston Properties (REIT), Executive VP and COO E. Mitchell Norvilleto resigned
     http://goo.gl/AW7X7
174. 2/15/12 (WORLD) World Bank CEO Zoellick resigns
     http://goo.gl/dHDSm
     Did the White House tell the World Bank president that he’s out?
     http://goo.gl/wUOgb
175. 2/15/12 (CHINA) Morgan non-executive chairman Stanley Stephen Roach will be retiring.
     http://goo.gl/MQeGW
176. 2/15/12 (SLOVENIA) Nova Kreditna Banka Maribor CEO Andrej Plos resigns
     http://goo.gl/SNsVI
177. 2/15/12 (SLOVENIA) Nova Ljubljanska Banka d.d. CEO Bozo Jasovic resigns
     http://goo.gl/TyYiJ
178. 2/16/12 (USA IL) Deerfield Capital Management LLC, CEO Daniel Hattori and CEO of CIFC Corp resigned.
     http://goo.gl/LLNnD
179. 2/16/12 (USA IL) Deerfield Capital Management LLC, COO Luke Knecht and CEO of CIFC Corp, resigned both positions.
     http://goo.gl/LLNnD
180. 2/16/12 (UK) The Financial Services Authority Margaret Cole is to step down
     http://goo.gl/yT6rS
181. 2/16/12 (GHANA) Databank Group Executive Chair Ken Ofori-Atta steps down
     http://goo.gl/c7PtU
182. 2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Geoffrey Calvert Quits
     http://goo.gl/CtmOU
183. 2/16/12 (AUSTRALIA) ANZ Bank Australia CFO Peter Marriott resigns
     http://goo.gl/I7Alo
184. 2/16/12 (UK) Royal Bank of Scotland Sr Equities Trader Jason Edinburgh Arrested
     http://goo.gl/WczHh
185. 2/16/12 (UK) Royal Bank of Scotland director equities bus. Vincent Walsh director Arrested
     http://goo.gl/I7Alo
186. 2/16/12 (UK) Marex Spectron senior trader Michael Elsom Arrested
     http://goo.gl/I7Alo
187. 2/16/12 (AUSTRALIA) Royal Bank of Scotland Austraila CEO Stephen Williams resigns
     http://goo.gl/4r16D
188. 2/17/12 (SOUTH AFRICA) Coronation Fund Managers CEO Hugo Nelson is stepping down at age of 40.
     http://goo.gl/I3NY8
189. 2/17/12 (PAKISTAN) PICIC Asset Management Company Limited CFO Ahmed Raza resigns
     http://goo.gl/K8A2I
190. 2/17/12 (USA NY) Goldman Sachs CEO Lloyd Blankfein out as by summer
     http://goo.gl/UjpzD
191. 2/17/12 (SWITZERLAND) SNB Council President Hansueli Raggenbass resigns
     http://goo.gl/1n1Nr
192. 2/17/12 (UK) Insight Investment, asset manager Mike Pinggera has resigned..
     http://goo.gl/uDplK
193. 2/17/12 (USA NY) Harbinger Group Inc. CFO Francis T. McCarron has advised the Company of his resignation effective April 30
     http://goo.gl/6il4F
194. 2/17/12 (BULGARIA) Bulgaria National Health Insurance Fund (NHIF), The managing director Neli Nesheva, resigned after a two-day row about end-of-year bonuses paid by NHIF to its employees.
     http://goo.gl/7UQxv
195. 2/18/12 (PAKISTAN) The Bank of Azad Jammu and Kashmir executive Zulfiqar Abbasi resigns 
     http://goo.gl/G0woP
196. 2/19/12 (MALTA) Bank of Valletta, director of the Multi-Manager Fund John C. Ripard, has resigned being reprimanded by the MFSA for disposing of his holdings in the Fund whilst in possession of sensitive information which was not available to the public.
     http://goo.gl/1li3r
197. 2/20/12 (RUSSIA) Head of Russian Bank Regulator Gennady Melikyan Steps Down
     http://goo.gl/Unuez
198. 2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns
     http://goo.gl/F5twL
199. 2/20/12 (ISRAEL) Bank Leumi le-Israel Ltd: Zvi Itskovitch resigns
     http://goo.gl/aA0RW
200. 2/20/12 (USA WA) First Financial Northwest Director Spencer Schneider Quits
     http://goo.gl/6Dj0i
201. 2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) Gen Mgr Benigno Velez, resigns
     http://goo.gl/DuMrm
202. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Matlub resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
203. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Selima Ahmad resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
204. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Musabbir Ahmad resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
205. 2/21/12 (BANGLADESH) City General Insurance Co. Ltd director Geasuddin Ahmad resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
206. 2/21/12 (BANGLADESH) Social Islami Bank Limited director Taslima Akter resigns
     conflict of interest with director seat on Eastland Insurance Company Limited
     http://goo.gl/aEmwB
207. 2/21/12 (JAPAN) CITIBANK JAPAN: Bakhshi is taking over duties from Brian Mccappin, who the bank said in December would resign after the unit was banned for two weeks from trading tied to the London and Tokyo interbank offered rates.
     http://goo.gl/Z1rnw
208. 2/22/12 (HONG KONG) DZ BANK project finance head Tim Meaney quits
     http://goo.gl/ppKno
209. 2/22/12 (SINGAPORE) Macquarie International Infrastructure Fund’s CEO John Stuart to resign
     http://goo.gl/ji7Q4
210. 2/22/12 (USA NY) Goldman Sachs Hedge Fund Group Chief Howard Wietschner to Retire
     http://goo.gl/x4Zsr
211. 2/22/12 (UK) UBS AG’s (UBSN) Doug McCutcheon, head of Healthcare Banking in Europe, Middle East, Africa and Asia-Pacific region, has left Switzerland’s biggest bank after 25 years at the firm.
     http://goo.gl/Dnxqh
212. 2/23/12 (UK) Goldman Sachs Nordic M&A banker Luca Ferrari has decided to retire from the firm, clients included the largest telecommunications operator in Spain the Spanish telecommunications.
     http://goo.gl/qmCh3
213. 2/23/12 (SOUTH AFRICA) Richard Gush resigns from Standard Bank
     http://goo.gl/DTL5S
214. 2/23/12 (SCOTLAND) Royal Bank of Scotland Group director John McFarlane resigns.
     http://goo.gl/KoEUI
215. 2/24/12 (GUERNSEY) Spearpoint Limited (SPL) Investment Funds, director Mike Kirby resigns for business reasons.
     http://goo.gl/9stPB
216. 2/24/12 (INDIA) Breaking: ICICI Bank GC Pramod Rao resigns
     http://goo.gl/5eUqU
217. 2/24/12 (HONG KONG) Citigroup Pvt Bank Global Real Estate Kwang Meng Quek Resigns
     http://goo.gl/JIC9A
218. 2/24/12 (NEW ZEALAND) FSF Executive Director Kirk Hope resigns
     http://goo.gl/6UJau
219. 2/24/12 (USA NY) Evercore Partners Head Eduardo Mestre steps down
     http://goo.gl/n5RLY
220. 2/25/12 (AUSTRALIA AND NZ) Goldman Sachs Chairman Stephen Fitzgerald quits
     http://goo.gl/nMTLW
221. 2/25/12 (DENMARK) European Investment Bank (EIB), Mr Sigmund Lubanski, of the Kingdom of Denmark tendered his resignation.
     http://goo.gl/y4XXF
222. 2/27/12 (GERMANY) Deutsche Bank Americas chief  Seth Waugh steps down
     http://goo.gl/8lxSw
223. 2/27/12 (BAHRAIN) Khaleeji Commercial Bank CEO Ebrahim Ebrahim quits
     http://goo.gl/yKjzL
224. 2/27/12 (BAHRAIN) – Mumtalakat Holding [Sovereign Wealth Fund] CEO Al Zain resigns
     http://goo.gl/hhHSm
225. 2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Michel Péretié Steps Down
     http://goo.gl/IJ5Lw
226. 2/27/12 (MALAYSIA) Elaf Bank CEO Dr El Jaroudi resigns
     http://goo.gl/eVCS5
227. 2/27/12 (GERMANY) Equiduct chairman Artur Fischer steps down
     http://goo.gl/Q0dWR
228. 2/27/12 (IRAN) Bank Melli CEO Mahmoud Reza Khaavari Resigns – Flees to Canada!
     http://goo.gl/DDEUk
229. 2/27/12 (IRAN) Bank Saderat CEO Mohammad Jahromi resigns
     http://goo.gl/ZD0mc
230. 2/27/12 (UK) Lloyds Banking Group Glen Moreno steps down
     http://goo.gl/dsXcE
231. 2/27/12 (SINGAPORE) Standard Chartered Bank, global head of repo and collateralised financing Tanweer Khan resigned.
     http://goo.gl/hgbuc
232. 2/28/12 (HONG KONG) Hang Seng Bank CEO Margaret Leung Ko May-yee quits
     http://goo.gl/Uo800
233. 2/28/12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits
     http://goo.gl/26MYq
234. 2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits, cites health reasons
     http://goo.gl/NDJze
235. 2/28/12 (HONG KONG) Bank of America’s Asia-Pac. mrkts Brian Canniffe quits
     http://goo.gl/cRkCP
236. 2/28/12 (BELGIUM) KBC’s CEO Jan Vanhevel is to retire after a career spanning 41 years.
     http://goo.gl/1rCWd
237. 2/28/12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne Brown quits
     http://goo.gl/HIYXv
238. 2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft
     http://goo.gl/ggPvq
239. 2/28/12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne retires
     http://goo.gl/YxvNA
240. 2/28/12 (SOUTH AFRICA) REDEFINE INCOME FUND director Gerald Leissner resigns
     http://goo.gl/F0UgN
241. 2/28/12 (ITALY) UNICREDIT: Chairman Dieter Rampl not available for a new mandate
     http://goo.gl/7aLRU
242. 2/28/12 (UK) Bank of England Sir David Lees re-appointed Chair of Bank of England and gives notice of resignation at end of 2013
     http://goo.gl/LkJhV
243. 2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc Director Keith Walsh resigns
     http://goo.gl/n6uoM
244. 2/29/12 (AUSTRALIA) Perpetual portfolio manager Matt Williams steps down
     http://goo.gl/Jh9jd
245. 2/29/12 (UK) Honister Capital CEO Richard Pearson steps down
     http://goo.gl/014or
246. 2/29/12 (GUYANA) National Investment and Commercial Investments Ltd. (NICIL), Executive Director Winston Brassington resigns, “We feel that (Winston) Brassington knows everything…A to Z about all the transactions,” said Chairman of the Alliance for Change (AFC), Khemraj Ramjattan, as he sounded a warning that controversial figure could be subpoenaed to appear before the Parliamentary Economic Sector Committee.
     http:// goo.gl/L7I35
247. 3/01/12 (MALAYSIA) RHB Bank Bhd deputy managing director Renzo Viegas quits
     http://goo.gl/wACrI
248. 3/01/12 (ITALY) Italian Banking Association Chairman Giuseppe Mussari talks to reporters in Rome after he and seven other executives offered to resign in protest over new banking-fee rules included in the government’s legislation on boosting competition.
     http://goo.gl/3llyT
249. 3/01/12 (USA FL) Florida Venture Forum [Venture Capital] Exec Dir Robin Lester quits
     http://goo.gl/nA8g9
250. 3/01/12 (USA NY) PineBridge Investments said Win Neuger has resigned as chief executive. Neuger helped build AIG’s third party asset management business, PineBridge still manages AIG assets
     http://goo.gl/SI7kT
251. 3/01/12 (SINGAPORE) UBS Singapore – James Tulley is leaving Switzerland’s largest bank, it is not clear where he is going.
     http://goo.gl/BGugF
252. 3/01/12 (USA NH) Piscataqua Savings Bank CEO Jay Gibson retires
     http://goo.gl/uEqDV
253. 3/01/12 (ICELAND) Iceland’s Financial Supervisory Authority (FSA) fired its director Gunnar Andersen
     http://goo.gl/VG9q5
254. 3/01/12 (USA OR) Oregon Public Employees Retirement Fund (OPERF) senior RE officer Brad Child will retire
     http://goo.gl/vcERz
255. 3/02/12 (CHINA) China Construction Bank Corp, assistant general manager and head of corporate banking Mickey Mehta quits
     http://goo.gl/B9dR0
256. 3/02/12 (USA NY) Deutsche Bank Student Loan CEOJohn Hupalo quits to start student loan counseling firm.
     http://goo.gl/8kZuc
257. 3/02/12 (UK) Bank of England Sir Mervin King resigns in June, Lord Sassoon tipped as replacement.
     http://goo.gl/ZEUwf
258. 3/02/12 (BOTSWANA) Barclays Bank Botswana managing director Wilfred Mpai forced to resign
     http://goo.gl/npBe2
259. 3/02/12 (HONG KONG) New Century Group Hong Kong Ltd [investment house and leisure group] Wilson Ng resigns
     http://goo.gl/wFSV8
260. 3/02/12 (USA NY) Citigroup Richard Parsons to step down as chairman
     http://goo.gl/BhZ0F
261. 3/03/12 (AUSTRIA) Volksbank AG (VBAG) The contract of CEO Gerald Wenzel will not be extended
     http://goo.gl/w99tD
262. 3/03/12 (ETHIOPIA) Dashen Bank’s board dismisses president Leulseged Teferi
     http://goo.gl/Y801M
263. 3/03/12 (RUSSIA) Enza Capital KK, Wealthy British banker Philip Townsend (Baron Townsend of Rathmore) and his wife killed at Estonia holiday home  ⑆44541444⑈
     http://goo.gl/GSOUN and http://goo.gl/x94ID and http://goo.gl/gGgLP
264. 3/04/12 (KOREA)  Hana Financial Group Inc, prominent figure in the history of South Korean finance Kim Seung-yu , resigns
     http://goo.gl/fmNxY
265. 3/04/12 (USA NY) JP Morgan prop trading chief Mike Stewart quits
     http://goo.gl/gubPj
266. 3/05/12 (SAUDI ARABIA) Al Rajhi Bank CEO Abdullah bin Sulaiman Al Rajhi has resigned
     http://goo.gl/pNx0l
267. 3/5/12 (UK) Jupiter fund co-manager Tony Nutt steps down
     http://goo.gl/RPqOp
268. 3/05/12 (UK) Jupiter fund co-manager John Hamilton steps down
     http://goo.gl/RPqOp
269. 3/05/12 (NEW ZEALAND) Insured Group Bill Jeffries has resigned as chairman and director
     http://goo.gl/gX7wu
270. 3/05/12 (USA) Reliance Bancshares chairman Patrick Gideon resigned
     http://goo.gl/u6BT4
271. 3/05/12 (UK) Charterhouse partner Gordon Bonnyman is stepping down.
     http://goo.gl/iAEYB
272. 3/05/12 (UK) HgCapital, partner Lindsay Dibden is leaving after 20 years.
     http://goo.gl/iAEYB
273. 3/06/12 (FRANCE) Blackstone Group’s Paris office leader Jean-Michel Steg will step down
     http://goo.gl/w3Ca5
274. 3/06/12 (JAMAICA) Jamaica Money Market Brokers Limited, Patricia Sutherland has resigned as Executive Director
     http://goo.gl/oMwv6
275. 3/06/12 (JAMAICA) Jamaica’s Financial Services Commission (FSC), Executive director Rohan Barnett, has resigned the position, the Ministry of Finance, Planning and the Public Service announced this afternoon.
     http://goo.gl/FBwFo
276. 3/06/12 USA CT) Wells Fargo & Co. said that Mackey McDonald, one of the last remaining directors from Wachovia is retiring.
     http://goo.gl/F1O4v
277. 3/06/12 (USA PA)  USA Technologies Inc Bradley M. Tirpak, a nominee of Shareholder Advocates for Value Enhancement,has resigned from its board subsequent to a settlement agreement with the investing group, according to an SEC filing. Provides a network of wireless non-cash transactions, associated financial/network services and energy management. It provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.
     http://goo.gl/8oi7C
278. 3/06/12 (UK) Sterling Green Group has announced that Philip Kanas, a non-executive director, has decided to resign
     Sterling Green Group PLC became a cash shell following the disposal of their subsidiaries Taxdebts Ltd, Sterling Green (Mortgages) Ltd and the back books of the clients of Sterling Green Ltd. during December 2011.
     http://goo.gl/qc3jB
279. 3/06/12 (UK) Aberdeen Asset Management, non-executive director Gerhard Fusenig has resigned from the board.
     http://goo.gl/ZIkvQ
280. 3/07/12 (GERMANY) Deutsche Bank AG’s (DB) Chief Risk Officer Hugo Baenzigeri to resign
     http://goo.gl/MWqsH
281. 3/07/12 (GERMANY) Deutsche Bank AG’s (DB) Chief Operating Officer Hermann-Josef Lamberti to resign
     http://goo.gl/MWqsH
282. 3/07/12 (UNITED ARAB EMIRATES) Dubai Mercantile Exchange announced Thomas Leaver will step down as CEO
     http://goo.gl/rfhWN
283. 3/07/12 (SCOTLAND) Macfarlane Group Chairman Archie Hunter to step down after 8 years of service
     http://goo.gl/RHllr
284. 3/07/12 (USA) BlackRock Emerging Markets Fund co-head Daniel Tubbs, has left the group to pursue other opportunities.
     http://goo.gl/CpEzZ
285. 3/07/12 (UK) Goldman Sachs (GSI) Christopher French resigns from board
     http://goo.gl/3yQDS
286. 3/07/12 (UK) Goldman Sachs (GSI) David Wildermuth resigns from board
     http://goo.gl/3yQDS
287. 3/07/12 (UK) Goldman Sachs (GSI) Matthew Westerman resigns from board
     http://goo.gl/3yQDS
288. 3/07/12 (UK) Goldman Sachs (GSI) co-head of global mergers and acquisitions Yoel Zaoui resigns
     http://goo.gl/3yQDS
289. 3/07/12 (UK) Goldman Sachs (GSI) Phil Beatty resigned as head of European power and natural-gas trading
     http://goo.gl/jqbYY
290. 3/07/12 (SINGAPORE) Nikko Asset Management Timothy McCarthy is retiring as chairman and CEO at the end of the month
     http://goo.gl/v8tcT
291. 3/07/12 (HONG KONG) UBS Senior Asia Economist Jonathan Anderson Departs
     http://goo.gl/09VqT
292. 3/07/12 (HAITI) FORMER DIRECTOR HAITI CENTRAL BANK SLAIN!  ⑆44541444⑈
     http://goo.gl/UtVz3
293. 3/07/12 (FRANCE) Société Générale Private Banking, Daniel Truchi is to step down as head of Société Générale Private Banking
     http://goo.gl/XhgJ9
294. 3/07/12 (AUSTRALIA) Customers Ltd, Tim Wildash has cashed himself out as chief executive of Australia’s largest ATM operator
     http://goo.gl/eZJMb
295. 3/07/12 (USA CA) CALSTRS, Pascal Villiger, senior private equity portfolio manager at the $145 billion California State Teachers’ Retirement System resigns
     http://goo.gl/ub0ke
296. 3/07/12 (USA) Astaire quits Bank of America Merrill to dance to Barclays Capital’s tune
     http://goo.gl/Zv6Ny
297. 3/08/12 (USA NY) Schroders, CIO Alan Brown is steps down
     http://goo.gl/ZTtYo
298. 3/08/12 (USA IL) CBOE Executive Patrick Fay Put on Leave Amid SEC Probe
     http://goo.gl/x5snO
299. 3/08/12 (USA NH & RI) Bristol County Savings Bank president E. Dennis Kelly retires after 35 years
     http://goo.gl/8KVKn
300. 3/08/12 (GERMANY) Clearstream Banking AG – Katja Rosenkranz To Leave Deutsche Börse Group [stockmarket]
     http://goo.gl/RiVNi
301. 3/08/12 (UK) B&CE CEO Brian Griffiths is to retire later this year
     http://goo.gl/AV7Sk
302. 3/08/12 (UK) Invesco Trimark Ltd, portfolio manager Dana Love has resigned.
     http://goo.gl/MyQ90
303. 3/08/12 (ISRAEL) Bank of Israel Governor Stanley Fischer will hand in his shock resignation in the coming days and take up a new position as head of the Bank of Zambia. Finance Minister Yuval Steinitz is believed to be furious with Fischer’s decision. Treasury officials said he even canceled his participation in the office’s annual Purim party in order to convince Fischer to reverse his decision.
     http://goo.gl/0DlSA
304. 3/08/12 (SOUTH AFRICA) Standard Bank Group Limited (SBK), board member Sir Paul Judge retires.
     http://goo.gl/SjSPg
305. 3/08/12 (SOUTH AFRICA) Standard Bank Groupl Limited (SBK), board member Sir Sam Jonah retires.
     http://goo.gl/SjSPg
306. 3/09/12 (MONGOLIA) Mongol Bank President Alag Batsukh submitted his resignation letter to Speaker of Parliament D. Demberel at the end of last month. He described his reason for resigning as a lack of support by Parliament.
     http://goo.gl/RDmNx
307. 3/09/12 (MONGOLIA) Asia Pacific Securities, General Manager Narantuguldur Saijrakh recently resigned, to focus on his role as Director of Khan Investment Management, investment advisor to the Khan Mongolia Equity Fund – the first open-ended investment vehicle with monthly dealing that invests in Mongolia related equities listed both domestically and internationally.
     http://goo.gl/2T4R6
308. 3/09/12 (Côte d’Ivoire) Banque Central des Etats d’Afrique de l’Ouest (BCEAO) The Ivorian governor of the multi-billion dollar West Africa Francophone bank, Philippe-Henry Dacoury-Tabley, resigned his post.
     http://goo.gl/CevLn
309. 3/09/12 (UK) Lazard , co-head of investment banking Alexis de Rosnay quits. De Rosnay specialises in the healthcare sector, he has advised Teva Pharmaceutical and Novartis.
     http://goo.gl/3gzbi
310. 3/09/12 (UK) Deutsche Bank PWM, UK head of portfolio management Martyn Surguy resigned.
     http://goo.gl/5Ti2p
311. 3/09/12 (UK) Deutsche Bank PWM, head of discretionary management, Kypros Charalambous, having also stepped down.
     http://goo.gl/5Ti2p
312. 3/09/12 (HONG KONG) Bank of America Merrill Lynch, K.J. Kim, responsible for Southeast Asia, resigned
     http://goo.gl/sE7xh
313. 3/09/12 (HONG KONG) Bank of America Merrill Lynch, Jimmy Choi, who was in charge of high-yield debt, resigned.
     http://goo.gl/sE7xh
314. 3/09/12 (HONG KONG) Bank of America Merrill Lynch, Leonard Ng, a vice-president in Hong Kong resigned.
     http://goo.gl/sE7xh
315. 3/09/12 (AUSTRALIA) Bank of Queensland CFO Ram Kangatharan plans to leave the bank.
     http://goo.gl/ieNea
316. 3/09/12 (USA) Cerberus Capital Management LP, CEO Robert Nardelli resigns.
     http://goo.gl/9uKVx
317. 3/10/12 (AUSTRALIA) WESTPAC, Rob Chapman opted to quit running its regional subsidiary St George Bank.
     http://goo.gl/G6MD
318. 3/10/12 (TURKEY) Garanti Bank, The deputy CEO of Turkish lender Tolga Egemen, has decided to quit.
     http://goo.gl/vAMzV
319. 3/10/12 (CHINA) Korea Development Bank, Shanghai unit senior manager Stella Wen resigned.
     http://goo.gl/55CqZ
320. 3/10/12 (HONG KONG) Deutsche Bank, Johan Sudiman resigns as director.
     http://goo.gl/6CYGP
321. 3/12/12 (USA) John Lewis Partnership Pension Trust, head of investments Andrew Chapman, resigns
     http://goo.gl/hevqh
322. 3/12/12 (USA CA) California’s Department of Financial Institutions, commissioner William Haraf resigned. The DFI did not say why he is leaving.
     http://goo.gl/zquTc
323. 3/12/12 (KUWAIT) Gulf Bank, Chairman Ali Rashaid Al Bader quits
     http://goo.gl/LDz9b
324. 3/12/12 (UK and IRELAND) Allfunds Bank, head of UK and Ireland Alan Gadd is stepping down from his role at the end of April.
     http://goo.gl/4DF6i
325. 3/12/12 (USA) ICAP, CEO of the electronic broking business David Rutter step down following a restructuring of the business.
     http://goo.gl/SUHqW
326. 3/12/12 (UK) SVG Capital, chairman Nicholas Ferguson resigns. His departure left him well placed to succeed James Murdoch as chairman of BSkyB should the latter bow to investor pressure and step down. Other investors in the satellite broadcaster suggested Ferguson might be seen as too close to Murdoch to win the support of institutional shareholders.
     http://goo.gl/z19wH
327. 3/12/12 (SOUTH AFRICA) The Development Bank of Southern Africa (DBSA), CEO Paul Baloyi resigns.
     http://goo.gl/yX4xo
328. 3/12/12 (USA) Lehman Brothers Holdings Inc, CEO Bryan Marsal Resigns Title, Remains on as Adviser
     http://goo.gl/1K9zV
329. 3/12/12 (USA IL) CME Group Inc, CEO Craig Donohues will step down at year end.
     http://goo.gl/lvzgC
330. 3/13/12 (USA) Eaton Vance Corp, Treasurer and CFO Robert J. Whelan has stepped down.
     http://goo.gl/oxmbL
331. 3/12/12 (USA IL) CBOE Holdings Inc. (CBOE), senior compliance executive Patrick Fay has resigned. The options exchange being investigated by the Securities and Exchange Commission, Fay had been placed on leave after the SEC began investigating the options-market operator’s oversight of traders.
     http://goo.gl/gj4W6
332. 3/13/12 (USA) Mithras Investment Trust, chairman Mike Wooderson will step down
     http://goo.gl/UjO2e
333. 3/13/12 (USA) PHH Mortgage, President Luke Hayden resigned from to pursue what the company calls “other interests.” http://goo.gl/iaqQf
334. 3/13/12 (USA) PHH Mortgage, Treasurer Mark Johnson.resigned
     http://goo.gl/iaqQf
335. 3/13/12 (AUSTRALIA) WESTPAC, head of corporate affairs after David Bell decided to step down from the role. Bell is the latest top executive to leave the bank.
     http://goo.gl/FntUz
336. 3/13/12 (UK) Capula’s Systemic Trading Head Qiang Dai to Leave Fund
     http://goo.gl/zkrN2
337. 3/13/12 (UAE) National Bank of Abu Dhabi, CEO Michael Tomalin, will retire from the post in a few months.
     http://goo.gl/dzBW8
338. 3/13/12 (ISRAEL) Osem Investments Ltd, CEO Gazi Kaplan has tendered his resignation, effective April 2, citing heath reasons. Nestlé SA owns 58.8% of Osem.
     http://goo.gl/t032l
339. 3/13/12 (USA) Paulson & Co.’s, partner and head of the global bank team Robert Lacoursiere has quit to form his own hedge fund
     http://goo.gl/I8UNd
340. 3/13/12 (AUSTRALIA) ASX Ltd, Chairman David Gonski will step down from his role at Australia’s main stock market operator after being appointed to oversee almost A$90 billion ($95 billion) in the nation’s sovereign-wealth funds.
     http://goo.gl/gJN33
341. 3/13/12 (UK) JP Morgan, Asset Management European chief Jamie Broderick is to step down more than 20 years at the firm.
     http://goo.gl/MV65V
342. 3/13/12 (UK) SVG Chairman Nicholas Ferguson retires.
     http://goo.gl/hTDDY
343. 3/13/12 (UK) SVG Director Edgar Koning retires.
     http://goo.gl/hTDDY
344. 3/13/12 (UK) SVG Director Denis Raeburn retires.
     http://goo.gl/hTDDY
345. 3/13/12 (UK) SVG Director Francis Finlay retires.
     http://goo.gl/hTDDY
346. 3/14/12 (UK) Goldmand Sachs, executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa, Greg Smith, is resigning today.
     http://americankabuki.blogspot.com/2012/03/why-i-am-leaving-goldman-sachs.html
347. 3/14/12 (SOUTH AFRICA) ABSA chairman Garth Griffin to retire
     http://goo.gl/Mhjb5

Whew!  So after all of this what is the truth?  It does appear that the financial elite are in some kind of retreat.  Also you can a pattern where the further we come forward to the present, the more major CEO and board members are involved, in other words, the most senior management.  Also odd was the number of en masse resignations of board members.  What is disturbing is the fact that I tracked everyone of these people stepping down, really hoping to see that a majority of them were just making “career moves”, but exactly the opposite was true for the majority.  Words and phrases such as, “sudden resignation”, “unexpected move” “surprising” were often contained in the news articles chronicling the moves.

I went one step further to see if I could independently verify where these folks were going.  Here is where it gets a bit murky and interesting.  A number of these very successful people in their prime are “retiring”, “going to follow personal pursuits”, “personal matters”, and they are NOT resurfacing.

Some of this information is leaking into MSM now within the last few weeks, but truly this phenomena is being grossly under-reported, no doubt.

In summary, as I finished this article, I asked myself one question, and I think it is the same question we all ask when it comes to “high finance”, so what?  What can I do about it?  Then it hit me, now I know details and I do believe there is a financial cabal that does act in concert with one another and someone or group, or government has uncovered some extremely damaging information about this financial conspiracy, and they are trying to get them under control.  What we can do about it is insist that our governments start doing their job and regulate these guys and prosecute those who have violated criminal laws.  This should be a MAJOR platform of any presidential candidate and we should insist that Congress begin acting now.  Our voices really do count.  Just ask any woman of late, right Ladies?

The Fox is in the Henhouse Again, and We are not Watching!

We watched as the banks were bailed out after ripping off nearly $5 trillion dollars of America’s wealth.  We are on the hook for their loses.  They were too big to fail, we were told.  It would be a disaster for the world’s economy.  The same story was then foisted on our European brothers, and again with the same “chicken little” reasoning.

Well, here we are 3 years later and the economy is still in the dumpster and we have not done one thing to correct the major problem of banks being investment firms ponied up to the roulette table wildly playing with OUR money unchecked.  Now the drunken bankers are at it again.  I have written many articles concerning this crazy derivatives market that is the banker’s hedge for the downside of this slow motion crash of the world’s economy.

This WAS one market that the bankers were exposed and WE were not on the hook for bailouts.  Well, that was until last week.  No ONE is MSM National media is even reporting this.  If you aren’t mad as hell when you read this, you are certifiably in a COMA.

Source: Washington’s Blog

Bloomberg reports that Bank of America is dumping derivatives onto a subsidiary which is insured by the government – i.e. taxpayers.

Yves Smith notes:

If you have any doubt that Bank of America is going down, this development should settle it …. Both [professor of economics and law, and former head S&L prosecutor] Bill Black (who I interviewed just now) and I see this as a desperate move by Bank of America’s management, a de facto admission that they know the bank is in serious trouble.

The short form via Bloomberg:

Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation…

Bank of America’s holding company — the parent of both the retail bank and the Merrill Lynch securities unit — held almost $75 trillion of derivatives at the end of June, according to data compiled by the OCC. About $53 trillion, or 71 percent, were within Bank of America NA, according to the data, which represent the notional values of the trades.

That compares with JPMorgan’s deposit-taking entity, JPMorgan Chase Bank NA, which contained 99 percent of the New York-based firm’s $79 trillion of notional derivatives, the OCC data show.

Now you would expect this move to be driven by adverse selection, that it, that BofA would move its WORST derivatives, that is, the ones that were riskiest or otherwise had high collateral posting requirements, to the sub. Bill Black confirmed that even though the details were sketchy, this is precisely what took place.

And remember, as we have indicated, there are some “derivatives” that should be eliminated, period. We’ve written repeatedly about credit default swaps, which have virtually no legitimate economic uses (no one was complaining about the illiquidity of corporate bonds prior to the introduction of CDS; this was not a perceived need among investors). They are an inherently defective product, since there is no way to margin adequately for “jump to default” risk and have the product be viable economically. CDS are systematically underpriced insurance, with insurers guaranteed to go bust periodically, as AIG and the monolines demonstrated. [Background.]

The reason that commentators like Chris Whalen were relatively sanguine about Bank of America likely becoming insolvent as a result of eventual mortgage and other litigation losses is that it would be a holding company bankruptcy. The operating units, most importantly, the banks, would not be affected and could be spun out to a new entity or sold. Shareholders would be wiped out and holding company creditors (most important, bondholders) would take a hit by having their debt haircut and partly converted to equity.

This changes the picture completely. This move reflects either criminal incompetence or abject corruption by the Fed. Even though I’ve expressed my doubts as to whether Dodd Frank resolutions will work, dumping derivatives into depositaries pretty much guarantees a Dodd Frank resolution will fail. Remember the effect of the 2005 bankruptcy law revisions: derivatives counterparties are first in line, they get to grab assets first and leave everyone else to scramble for crumbs. [Background.] So this move amounts to a direct transfer from derivatives counterparties of Merrill to the taxpayer, via the FDIC, which would have to make depositors whole after derivatives counterparties grabbed collateral. It’s well nigh impossible to have an orderly wind down in this scenario. You have a derivatives counterparty land grab and an abrupt insolvency. Lehman failed over a weekend after JP Morgan grabbed collateral.

But it’s even worse than that. During the savings & loan crisis, the FDIC did not have enough in deposit insurance receipts to pay for the Resolution Trust Corporation wind-down vehicle. It had to get more funding from Congress. This move paves the way for another TARP-style shakedown of taxpayers, this time to save depositors. No Congressman would dare vote against that. This move is Machiavellian, and just plain evil.

The FDIC is understandably ripshit. Again from Bloomberg:

The Federal Reserve and Federal Deposit Insurance Corp. disagree over the transfers, which are being requested by counterparties, said the people, who asked to remain anonymous because they weren’t authorized to speak publicly. The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, which would have to pay off depositors in the event of a bank failure, is objecting, said the people. The bank doesn’t believe regulatory approval is needed, said people with knowledge of its position.

Well OF COURSE BofA is gonna try to take the position this is kosher, but the FDIC can and must reject this brazen move. But this is a bit of a fait accompli,and I have NO doubt BofA and the craven, corrupt Fed will argue that moving the derivatives back will upset the markets. Well too bad, maybe it’s time banks learn they can no longer run roughshod over regulators. And if BofA is at that much risk that it can’t survive undoing this brazen move, that would seem to be prima facie evidence that a Dodd Frank resolution is in order.

Bill Black said that the Bloomberg editors toned down his remarks considerably. He said, “Any competent regulator would respond: “No, Hell NO!” It’s time that the public also say no, and loudly, to this new scheme to loot taxpayers and save a criminally destructive bank.

Professor Black provided a “bottom line” summary in a separate email:

1.The bank holding company (BAC) is moving troubled assets held by an entity not insured by the public (Merrill Lynch)  to the Bank of America, which is insured by the public
2. The banking rules are designed to prevent that because they are designed to protect the FDIC insurance fund (which the Treasury guarantees)
3. Any marginally competent regulator would say “No, Hell NO!”
4. The Fed, reportedly, is saying “Sure, no worries” by allowing the sale of an affiliate’s troubled assets to B of A
5. This is a really good “natural experiment” that allows us to test whether the Fed is protects the public or the uninsured and systemically dangerous institutions (the bank holding companies (BHCs))
6. We are all shocked, shocked [sarcasm] that Bernanke responded to the experiment by choosing to protect the BHC at the expense of the public.

Karl Denninger writes:

So let’s see what we have here.

Bank customer initiates a swap position with Bank.  In doing so they intentionally accept the credit risk of the institution they trade with.

Later they get antsy about perhaps not getting paid.  Bank then shifts that risk to a place where people who deposited their money and had no part of this transaction wind up backstopping it.

This effectively makes the depositor the “guarantor” of the swap ex-post-facto.

That the regulators are allowing this is an outrage.

If you’re a Bank of America customer and continue to be one you deserve whatever you get down the line, whether it comes in the form of higher fees and costs assessed upon you or something worse.

Stand Up to the Coup

Bank of America has repeatedly become insolvent due to fraud and risky bets, and repeatedly been bailed out by the government and American people. The government and banks are engineering an age of permanent bailouts for this insolvent, criminal bank (and the other too big to fails).  Remember, this is the same bank that is refusing to let people close their accounts.

This is yet another joint effort by Washington and Wall Street to screw the American people, and to trample on the rule of law.

The American people will be stuck in nightmare of a never-ending depression (yes, we are currently in a depression) and fascism (or socialism, if you prefer that term) unless we stand up to the overly-powerful Fed and the too big to fail banks.

This story from Bloomberg just hit the wires this week. Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC.

This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval to do this, they just did it at the request of frightened counterparties. Now the Fed and the FDIC are fighting as to whether this was sound. The Fed wants to “give relief” to the bank holding company, which is under heavy pressure.

This is a direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input. You will also read below that JP Morgan is apparently doing the same thing with $79 trillion of notional derivatives guaranteed by the FDIC and Federal Reserve.

What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan. Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.

First folks, we are talking over $150 Trillion of exposure.  That is 10 times our GDP!  Would you give me 100% of your income for the next ten years because I need it to make up my gambling loses!  What would you say to me?  You know, the OWS call for a BANK TRANSFER DAY in early November is getting to be a really significant idea.  If the banks refuse to act in a responsible manner and the FED is refusing to discipline its children, then we have to just take their “toys” (our money) away from the bankers.  It is time for “time out” for our out of control children.  Check out your local credit unions, they are real functioning banking organizations owned and controlled by their depositors and members.  Congress will never vote our interest, so we have to vote with our bucks.