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Thread: Massive Bank and High Profile Resignations Across the World

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    Default Re: Massive Bank and High Profile Resignations Across the World

    History in the making.

    Bankers are more powerful than politicians. Greg Smith stepping down is like the beginning of the fall of the Soviet Block.

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Perhaps a lot more than we know...

    ~~~~~~~~

    The Securities Exchange Act of 1934 requires that publicly traded companies must report to the SEC whenever a member 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".

    I felt this would at least offer us a baseline comparison to see if there is truly an uptick in resignations, or if it just appears that way. I think you will be interested in the results.

    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!

    ~~~~~~~~

    viking
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    Choose well.
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    Default Re: Massive Bank and High Profile Resignations Across the World

    http://www.writebyte.net/writebyte.d...ge?PageId=Jump

    This is Tim Fuhrman's list totalling 374 at 14 March - too many bleeps to post - but it's bleeping interesting....
    Oh my ears and whiskers, how late it's getting!

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Thanks Kabuki!

    http://americankabuki.blogspot.com/p...rld-banks.html

    FINAL UPDATE 3/15/12, This is the last update on banker resignations for a while. I've made my point. I'm in danger of giving myself carpal-tunnel syndrome with all the clicking and pasting. I may make another post at the end of the 2nd quarter and I will pull that data from the Edgar database at the SEC. It won't have much of the UK data - but its a far more efficeint way to get this data. I didn't know it existed when I started. I learned all kinds of things about banking I never knew before! Perhaps there is an online database for the UK somewhere too. I may post some statistical analysis and graphs on this existing data. If you want to copy this data and use to continue this research, feel free to do so as long as you say a portion of it came from American Kabuki and promise to share the results with this blog so we can share it with the world.

    If you enjoyed what I have done for the past month, please click the click on one of my fine ad sponsors! The money will help pay for my kid's high school trip to Europe this summer. If you've been foreclosed, perhaps an bank or lawyer ad. If you're an out of work banker, then click on a job search ad! I don't really know what brew of ads Google is serving up on these pages and it probably differs by region you are in. Thought it was better to run straight up ads than survivalist dooms day ads (we have such a bright future ahead once we get through this rough patch) or beg for money like a Sarah MacLaughlin endangered pet video. Just not into that kind of manipulation - you folks are better than that and deserve better. I'll probably remove the ads altogether before long anyway.
    Love and Peace,
    American Kabuki

    (This is no. 320 through to 359 as at 15 March 2012 - Sab)

    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 (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) 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/2...man-sachs.html
    3/14/12 (SOUTH AFRICA) ABSA chairman Garth Griffin to retire
    http://goo.gl/Mhjb5
    Oh my ears and whiskers, how late it's getting!

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  9. Link to Post #325
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    Default Re: Massive Bank and High Profile Resignations Across the World

    Quote Posted by Sabrina (here)
    http://www.writebyte.net/writebyte.d...ge?PageId=Jump

    This is Tim Fuhrman's list totalling 374 at 14 March - too many bleeps to post - but it's bleeping interesting....
    Very refreshing way of regarding our subjects. LOL.

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    Default Re: Massive Bank and High Profile Resignations Across the World

    http://www.telecompaper.com/news/chi...gns-amid-probe


    China Mobile director resigns amid probe
    Friday 16 March 2012 |

    China Mobile said that Lu Xiangdong, one of the company's 13 directors, resigned due to "personal circumstances." Earlier this month, the company said Lu was "assisting judicial authorities in the investigation of suspected financial-related issues". In a filing with Hong Kong stock-market regulators, China Mobile said Lu's resignation was prompted by "his inability to perform his duties as an executive director and a vice president under his current personal circumstances." It added that "there is no matter relating to his resignation that needs to be brought to the attention of the shareholders." Last year two China Mobile executives were found guilty of taking bribes and received suspended death sentences.
    Oh my ears and whiskers, how late it's getting!

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  12. Link to Post #327
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    Default Re: Massive Bank and High Profile Resignations Across the World

    http://www.rollingstone.com/politics...n-job-20120312

    12 March - Rolling Stone Politics

    Guy Who Rented All 94 Rooms of Aspen Hotel for Party Scores Awesome New Goldman Job

    Remember the story about the Wall Street guy who rented out all 94 rooms of an Aspen hotel for three days for his daughter's Bat Mitzvah?

    The main character in that tale was an individual named Jeffrey Verschleiser, a former Bear Stearns executive who was instrumental in helping blow up that venerable firm. Verschleiser among other things was reportedly involved with an elaborate Wall Street version of a merchandise return scam, only instead of taking the proceeds from returned TVs and stereos, his unit was pocketing the cash from crap mortgages sold back to banks on behalf of investors.

    Verschleiser also made a bundle burning Bear's bond insurers, whom he bet against after inducing them to insure his crappy mortgage bonds, nicknamed "Sack of ****" bonds by one of the funny dudes in his department. Verschleiser reportedly bragged that he made $55 million shorting his own bond insurers in the space of three weeks. Those interested in the whole sorry story should check out reporter Teri Buhl's excellent Atlantic magazine piece entitled, "E-mails Suggest Bear Stearns Cheated Clients Out of Billions."

    After Verschleiser decided to monopolize the elegant Hotel Jerome in Aspen for his daughter's Bat Mitzvah, news reports about his identity leaked out, and the event spurred some local controversy in Aspen and plenty of inflamed commentary around the interwebs. But it seems that the negative press has not hurt Verschleiser's career. This is from Bloomberg today:

    Goldman Sachs Group Inc. (GS), the fifth-biggest U.S. bank by assets, named Justin Gmelich global head of credit trading as part of management changes in the wake of high-level departures.

    Jeffrey L. Verschleiser will become global head of mortgage trading, according to an internal memo obtained by Bloomberg News. Gmelich and Verschleiser fill roles that were held by Donald R. Mullen until his departure earlier this year. Michael DuVally, a spokesman for the New York-based firm, confirmed the memo’s contents.

    I'm sometimes asked if I've noticed any change in Goldman Sachs since the financial crash of 2008. I'd suggest that anyone who would ask that question simply check out this news item. It's not merely that Verschleiser appears to be a titanically entitled asshole of the Let-Them-Eat-Cake variety; it's also that this is a guy who was personally named in a number of major lawsuits involving exactly the sorts of tawdry behaviors that caused the crash -- like knowingly dumping "sack of ****" mortgages on the market, or betting against your own clients after sticking them with millions' worth of defective products.

    So this guy, who made the news both for his professional unscrupulousness and for his personal assholedom, is the guy that Goldman picks to head its global mortgage operation.

    As the Russians say: submitted without commentary.
    Oh my ears and whiskers, how late it's getting!

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  14. Link to Post #328
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    Default Re: Massive Bank and High Profile Resignations Across the World

    http://www.rollingstone.com/politics...ealed-20120313
    13 March Rolling Stone

    J.P. Morgan Chase's Ugly Family Secrets Revealed

    In a story that should be getting lots of attention, American Banker has released an excellent and disturbing exposé of J.P. Morgan Chase's credit card services division, relying on multiple current and former Chase employees. One of them, Linda Almonte, is a whistleblower whom I've known since last September; I'm working on a recount of her story for my next book.

    One of the things we were promised by the lawmakers who passed the Dodd-Frank reform bill a few years back is that this would be a new era for whistleblowers who come forward to tell the world about problems in our financial infrastructure. This story now looms as a test case for that proposition. American Banker reporter Jeff Horwitz did an outstanding job in this story detailing the sweeping irregularities in-house at Chase, but his very thoroughness means the news may have ramifications for Linda, which is why I'm urging people to pay attention to this story in the upcoming weeks.......
    She has been repeatedly harassed and has gone through all sorts of personal hardship as a result of this incident. She filed a whistleblower claim with the SEC as part of the new whistleblower program created by Dodd-Frank, but so far there's been no progress there.

    full story at the link
    Oh my ears and whiskers, how late it's getting!

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  16. Link to Post #329
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    Default Re: Massive Bank and High Profile Resignations Across the World

    Quote Posted by Sabrina (here)
    http://www.rollingstone.com/politics...n-job-20120312

    12 March - Rolling Stone Politics

    Guy Who Rented All 94 Rooms of Aspen Hotel for Party Scores Awesome New Goldman Job

    Remember the story about the Wall Street guy who rented out all 94 rooms of an Aspen hotel for three days for his daughter's Bat Mitzvah?

    The main character in that tale was an individual named Jeffrey Verschleiser, a former Bear Stearns executive who was instrumental in helping blow up that venerable firm. Verschleiser among other things was reportedly involved with an elaborate Wall Street version of a merchandise return scam, only instead of taking the proceeds from returned TVs and stereos, his unit was pocketing the cash from crap mortgages sold back to banks on behalf of investors.

    Verschleiser also made a bundle burning Bear's bond insurers, whom he bet against after inducing them to insure his crappy mortgage bonds, nicknamed "Sack of ****" bonds by one of the funny dudes in his department. Verschleiser reportedly bragged that he made $55 million shorting his own bond insurers in the space of three weeks. Those interested in the whole sorry story should check out reporter Teri Buhl's excellent Atlantic magazine piece entitled, "E-mails Suggest Bear Stearns Cheated Clients Out of Billions."

    After Verschleiser decided to monopolize the elegant Hotel Jerome in Aspen for his daughter's Bat Mitzvah, news reports about his identity leaked out, and the event spurred some local controversy in Aspen and plenty of inflamed commentary around the interwebs. But it seems that the negative press has not hurt Verschleiser's career. This is from Bloomberg today:

    Goldman Sachs Group Inc. (GS), the fifth-biggest U.S. bank by assets, named Justin Gmelich global head of credit trading as part of management changes in the wake of high-level departures.

    Jeffrey L. Verschleiser will become global head of mortgage trading, according to an internal memo obtained by Bloomberg News. Gmelich and Verschleiser fill roles that were held by Donald R. Mullen until his departure earlier this year. Michael DuVally, a spokesman for the New York-based firm, confirmed the memo’s contents.

    I'm sometimes asked if I've noticed any change in Goldman Sachs since the financial crash of 2008. I'd suggest that anyone who would ask that question simply check out this news item. It's not merely that Verschleiser appears to be a titanically entitled asshole of the Let-Them-Eat-Cake variety; it's also that this is a guy who was personally named in a number of major lawsuits involving exactly the sorts of tawdry behaviors that caused the crash -- like knowingly dumping "sack of ****" mortgages on the market, or betting against your own clients after sticking them with millions' worth of defective products.

    So this guy, who made the news both for his professional unscrupulousness and for his personal assholedom, is the guy that Goldman picks to head its global mortgage operation.

    As the Russians say: submitted without commentary.
    Looks like Blankfein will be surrounded by people just like him now. I hope this story goes viral. This is pure contempt for clients to hire a POS like this Verschleiser I think Verscheisser would be a better spelling.
    Last edited by modwiz; 16th March 2012 at 20:36.

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Not an official banker - well, perhaps in G*d credits , but definitely high profile

    Archbishop of Canterbury Rowan Williams is stepping down at the end of the year, calling an end to a tumultuous decade as leader of a global Anglican Communion Source
    .... be gentle with your anger. Sixto Rodriguez, Cape Town 20.02.2013

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Quote Posted by modwiz (here)
    Quote Posted by Sabrina (here)
    http://www.writebyte.net/writebyte.d...ge?PageId=Jump

    This is Tim Fuhrman's list totalling 374 at 14 March - too many bleeps to post - but it's bleeping interesting....
    Very refreshing way of regarding our subjects. LOL.
    I see it's both colorful and a visual graph(ic).
    PS Hi modwiz!

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  21. Link to Post #332
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    Default Re: Massive Bank and High Profile Resignations Across the World

    Rowan-Williams-resigns-archbishop-canterbury

    http://www.guardian.co.uk/uk/2012/ma...hop-canterbury

    Quote The archbishop of Canterbury, Dr Rowan Williams, is to resign and return to academia as master of Magdalene College, Cambridge.

    Williams, 61, will leave at the end of December in time to start his new role next January.

    His time in office has been marked by a slowly growing schism in the worldwide Anglican church, which he has failed to heal. Williams has been attacked by conservatives for his liberal views on homosexuality and by liberals for failing to live up to these principles.

    But he has been respected on all sides for his gifts as a preacher of great eloquence and flashes of clarity.

    Ed Miliband, the Labour leader, tweeted: "Rowan Williams will be sorely missed as archbishop of Canterbury; did what he said he'd do – challenge the imagination of our country."

    Williams's generally leftwing politics have led him to clash with the government, most notably when he guest-edited an issue of the New Statesman last year, which was taken by Conservative MPs as a declaration of hostilities.

    The prime minister, David Cameron, said: "I would like to thank Rowan Williams for his dedicated service as archbishop of Canterbury. As a man of great learning and humility he guided the church through times of challenge and change. He sought to unite different communities and offer a profoundly humane sense of moral leadership that was respected by people of all faiths and none."

    The bookmakers' favourite to succeed him is the Ugandan-born archbishop of York, John Sentamu, whose energy is widely admired, but who has upset some with a reputed forceful manner.

    The other name frequently mentioned is the bishop of London, Richard Chartres, who is opposed to the ordination of women, but has been increasingly quiet. Both men are older than Williams.

    None of the younger candidates has yet made their mark on the world outside the church, though Graham James, the bishop of Norwich, and Nick Baines, the bishop of Bradford, are two names most often mentioned.

    Williams, who was confirmed in December 2002 as the 104th archbishop of Canterbury and spiritual leader of the 77-million-strong Anglican communion, told the Press Association that occupying the post had been an enormous privilege.

    He described the Church of England as a "great treasure" that was still a place where many people sought inspiration and comfort in times of need. "I would like the successor that God would like," he said.

    "It is a job of immense demands and I would hope that my successor has the constitution of an ox and the skin of a rhinoceros, really.

    "But he will, I think, have to look with positive, hopeful eyes on a church, which for all its problems is still, for so many people, a place to which they resort in times of need and crisis, a place to which they look for inspiration.

    "I think the Church of England is a great treasure. I wish my successor well in the stewardship of it."

    In a statement issued by Lambeth Palace, Williams added: "It has been an immense privilege to serve as archbishop of Canterbury over the past decade, and moving on has not been an easy decision.

    "During the time remaining there is much to do, and I ask your prayers and support in this period and beyond."

    He added that he was grateful for all the support he and his wife, Jane, had received.

    "I am abidingly grateful to all those friends and colleagues who have so generously supported Jane and myself in these years, and all the many diverse parishes and communities in the Church of England and the wider Anglican communion that have brought vision, hope and excitement to my own ministry," he said.

    "I look forward, with that same support and inspiration, to continuing to serve the church's mission and witness as best I can in the years ahead."

    The timing of his retirement has nothing to do with gay marriage. But his children have both left school, and he will have served all through the Queen's diamond jubilee. By leaving now he makes time for his successor to prepare for the next Lambeth Conference, a worldwide gathering of Anglican bishops due in 2018. The last one was marked by a schism after the US Anglican church ordained an openly gay bishop, Gene Robinson.

    Williams planned to heal this schism by getting all constituent churches of the Anglican communion to sign up to a treaty or covenant which would stop them from ordaining openly gay clergy without central consent. But for the covenant to mean anything, it would have to be approved by a majority of the dioceses of the Church of England. Seventeen have so far rejected it, and only 11 approved. It seems likely that five more will reject it in voting this weekend, which would kill the scheme entirely.

    The archbishop of York, John Sentamu, said: "It is with great sadness that I received the news that the archbishop of Canterbury will be stepping down at the end of this year.

    "Our partnership in the gospel over the past six years has been the most creative period of my ministry. It has been life-giving to have led missions together, gone on retreats and prayed together.

    "In his company I have drunk deeply from the wells of God's mercy and love and it has all been joyful. He is a real brother to me in Christ.

    "The last decade has been a challenging time for the Church of England and the Anglican communion.

    "Thankfully, Archbishop Rowan is a remarkable and gifted leader who has strengthened the bonds of affection. Despite his courageous, tireless and holy endeavour, he has been much maligned by people who should have known better. For my part he has been God's apostle for our time.

    "His stepping down to pursue something he dearly loves – teaching and writing – is received with gratitude, as this will continue to be a blessing to the Church.

    "I am delighted that he is not going far away and will continue to offer service to the Church of England and the wider church in its witness to our society. May God's blessing continue to be showered upon him."

    Williams will continue to carry out all the duties and responsibilities of the archbishop of Canterbury, both for the Church of England and the Anglican communion, until the end of the year, Lambeth Palace said.

    The Crown Nominations Commission (CNC) would consider "in due course" the selection of a successor.

    Williams's return to academia will mark the end of more than 20 years as a bishop and archbishop. He was consecrated bishop of Monmouth in 1991 and elected archbishop of Wales in 1999.

    His departure comes amid tensions within the Anglican communion over the issue of homosexuality.

    The Church of England general synod also looks likely to give final approval in July to legislation introducing female bishops, with the threat of further walkouts by traditionalists.

    Williams's predecessor, Lord Carey, held the post of archbishop of Canterbury for 11 and a half years and retired at 66 in 2002

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Goldman Sachs story confirms my worst fears. Face changes but immorality deepens.
    Beware the axis of sanctimony.

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    Default Re: Massive Bank and High Profile Resignations Across the World

    http://www.ft.com/cms/s/0/f5fef054-6...#axzz1pJ3MMS6U
    UK
    March 16, 2012
    Hector Sants to quit FSA in June

    Hector Sants has bowed to growing pressure and resigned as chief executive of the Financial Services Authority after five years in the job, further depleting the ranks of senior financial regulators in the UK.

    Mr Sants, who had lost the confidence of some senior politicians and financial services company bosses in recent months, had also grown impatient with the process of regulatory reform that would have made him one of three deputy governors of the Bank of England.



    The former Credit Suisse banker had originally planned to remain in his job until mid-2013. However, delays in the legislative process to restructure the FSA, and merge its core bank regulatory function into the Bank of England, had extended the likely timeframe by a year, testing his patience, friends said.
    Mr Sants, who will step down in June, had resigned once before, in February 2010, before being persuaded by chancellor George Osborne to stay and oversee the creation of the new Prudential Regulatory Authority within the Bank of England.

    Critics said criticism from senior politicians was also threatening Mr Sants’ ability to stay in his job. Michael Fallon, an influential member of the Treasury Select Committee, told Scotland’s Sunday Herald newspaper a fortnight ago that he had “deep reservations about Hector Sants getting the PRA role”. He added that it was “fair to say other members of the committee share my reservations”, although committee chairman Andrew Tyrie on Friday praised Mr Sants’ “complete commitment and dedication to public service”.

    Mr Sants was due to appear before the TSC in a “pre-appointment hearing” in the coming months - a prospect that Mr Sants did not relish, according to friends.

    Some bank and insurance company executives have also been critical of Mr Sants, over his reinvention of the FSA as a tough-nut regulator. “It’s gone from supine to power-crazed with nothing in between,” said one.

    Most commentators gave positive assessments of Mr Sants on Friday. “I think the City will be genuinely dismayed about Hector’s resignation,” said James Smethurst, Partner at Freshfields. “This again highlights the difficulty for the FSA in retaining senior staff [at] a time of really unprecedented regulatory upheaval.”

    The government overhaul of regulation has unsettled FSA staff, prompting a string of top-level executives to leave. Margaret Cole, head of conduct regulation, recently resigned, following earlier departures by Sally Dewar, Jon Pain and Tom Heurtas.

    Mr Sants’ prospective role as head of the PRA will be taken on by Andrew Bailey, his deputy. Mr Bailey, who hails from the BoE, is also expected to be named in due course as deputy governor.
    Oh my ears and whiskers, how late it's getting!

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Quote Posted by write4change (here)
    Goldman Sachs story confirms my worst fears. Face changes but immorality deepens.

    I'm not so sure. People are starting to wake up. The Goldman Sachs story is all over the main stream media. Think those in financial circles can see the panic behind the scenes and the amount share selling going on. There's far more scrutiny about now. I think it's going to be hard to operate in the same old way. I tend to agree with the article below - the shift is hitting the fan .



    http://beforeitsnews.com/story/1888/...t_The_Fan.html

    by Zen Gardner

    The warnings and revelations of truth regarding current events that the alternative community is exposing are having a profound effect. This uncensored research is based on real history, news trends, accumulated information, knowledge of the occult such as ritual dates, numerology and other esoteric sciences as well as intuitive, conscious understandings.

    The massive vibrational change of consciousness is palpable.

    And it's getting to them. It's never been easy to quantify, but we're starting to get proof positive on a massive scale. One of the best examples is this Kony 2012 phenomenon that literally backfired right in the smug elites' faces. A young demographic comprised of millions worldwide latched on to the cause and then sussed it out almost immediately. Fantastic.

    We need to take that awareness and apply that as direct knowledge on other fronts. The walls are coming down.

    The wake up is approaching critical mass and starting to erupt in mainstream society. When impeachment proceedings are launched against Obama and war criminals Bush and Cheney can't travel outside the U.S. for fear of demonstrations and arrest, something big has shifted. When top banksters are resigning at an increasing rate and Timothy Geithner supposedly gets detained again and is rumored to have fingered Bush Sr. and Bill Gates, something's up.

    The Power of Awareness

    If everybody's screaming there's gonna be a nuclear hit on the London Olympics and it gets any kind of serious traction, they may just do it somewhere else. It's rare we'll ever know for sure, but when Killary says they're losing the info war, or Brzezinski says the global awakening is a threat, something's working, and well. And we've come a long way since then.

    Being aware of not just the information but the vibrational changes is a huge advantage. The insiders on their side know about this too. Most of the stooges you see in the news don't. They're just hired thugs. We know it's working not just by observing information and events, but by intuitive conscious awareness and the thrilling crescendo of awakened lives we're seeing and hearing from everyday.

    Their ranks know something's happening because it's impacting their plans and putting them on the defensive. Imagine someone trying to make a wave pattern in one end of a swimming pool trying to push all the floating items in a certain direction. Then in jumps person after person in the other end and they start playing and splashing around. You think Mr. Wavepattern Controller will feel the effects? Oh yeah, and he won't be too happy about all these unpredictable waves swishing around the pool now, would he?

    Cosmically it's much more profound than that, but you get the idea.

    So....everyone in the pool! Start making all the waves you can! Every drop counts!
    Oh my ears and whiskers, how late it's getting!

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Quote Posted by viking (here)
    Perhaps a lot more than we know...

    ~~~~~~~~

    The Securities Exchange Act of 1934 requires that publicly traded companies must report to the SEC whenever a member 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".

    I felt this would at least offer us a baseline comparison to see if there is truly an uptick in resignations, or if it just appears that way. I think you will be interested in the results.

    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!

    ~~~~~~~~

    viking
    Yes thanks for that Viking. That's certainly substantially more than the usual musical chairs of people changing jobs. So critics can't argue that it's just the usual churn. And that's only SEC figures - and not getting a public airing as you say. Tangible energetic shift you could argue....

    ¤=[Post Update]=¤

    Not all getting it their own way.

    http://www.mirror.co.uk/news/uk-news...daniels-763344

    By Graham Hiscott Comments 16 Mar 2012 UK
    Former Lloyds boss Eric Daniels denied £800,000 bonus

    The former chief executive, who oversaw 30,000 job losses, was among four top people denied shares by the board of directors
    Taxpayer-rescued Lloyds bank has refused to hand former boss Eric Daniels an £800,000 bonus.

    The former chief executive, who oversaw 30,000 job losses, was among four top people denied shares by the board of directors.

    A source said: “It’s in the interest of shareholders.
    Oh my ears and whiskers, how late it's getting!

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    Default Re: Massive Bank and High Profile Resignations Across the World

    http://www.nytimes.com/roomfordebate...et-from-itself
    15 March USA New York Times Opinion
    Saving the Street From Itself


    Robert Reich, the former Secretary of Labor, is Chancellor's Professor of Public Policy at the University of California at Berkeley.

    If Greg Smith believes what he’s experienced is something new, he doesn’t know history. In 1928, Goldman Sachs and Company created the Goldman Sachs Trading Corporation, which promptly went on a speculative binge, luring innocent investors along the way. In the Great Crash of 1929, Goldman’s investors lost their shirts but Goldman kept its hefty fees.

    If Smith believe such disregard of investors is unique to Goldman, he doesn’t know the rest of Wall Street. In the late 1920s, National City Bank, which eventually would become Citigroup, repackaged bad Latin American debt as new securities which it then sold to investors no less gullible than Goldman Sachs’s. After the Great Crash, National City’s top executives helped themselves to the bank’s remaining assets as interest-free loans while their investors and depositors were left with pieces of paper worth a tiny fraction of what they paid for them.

    The problem isn’t excessive greed. If you took the greed out of Wall Street all you’d have left is pavement. The problem is endemic abuse of power and trust. When bubbles are forming, all but the most sophisticated investors can be easily duped into thinking they’ll get rich by putting their money into the hands of brand-named investment bankers. Moreover, finance has become so complex that investors don’t even know when they’re being taken for a ride, and so can’t possibly hold a brand-name bank responsible for their losses – or for gains that are a fraction of what they might otherwise have been.

    If you took the greed out of Wall Street all you’d have left is pavement.
    That’s why we have regulations. After millions of investors lost everything in 1929, the federal government stepped into the breach with the Securities Acts of 1933 and 1934 and the Banking Act of 1933, sponsored by Senator Carter Glass and Representative Henry Steagall. But starting in the 1970s and 1980s, Wall Street made sure these and the regulations issued under them were steadily watered down – which contributed to the junk-bond and insider trading scandals of the 1980s, the dot-com scams of the late 1990s and early 2000s, the Wall-Street enablers of Enron and other corporate looters, and the wild excesses that led to the crash of 2008.

    Wall Street’s shenanigans have convinced a large portion of America that the economic game is rigged. Yet capitalism depends on trust. Without trust, people avoid even sensible economic risks. They think that if the big guys cheat in big ways, they might as well begin cheating in small ways. And when they think the game is rigged, they’re easy prey for political demagogues with fast tongues and dumb ideas.

    The Street has only itself to blame. It should have welcomed new financial regulation as a means of restoring public trust. Instead, it lobbied intensely against the new Dodd-Frank Act and refused to resurrect Glass-Steagall. The cost of such cynicism has leached deep into America, finding expression in Tea Partiers and Occupiers and millions of others who think the Street has sold us out.
    Oh my ears and whiskers, how late it's getting!

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    Default Re: Massive Bank and High Profile Resignations Across the World

    http://www.zerohedge.com/news/termin...cts-impartial-

    15 March USA

    Terminated CBO Whistleblower Shares Her Full Story With Zero Hedge, Exposes Deep Conflicts At "Impartial" Budget Office

    Earlier today, we suggested that in the aftermath of the Greg "Muppets" Smith NYT OpEd, contrary to assumptions by Jim Cramer, a bevy of potential whistleblowers would step up to tell their tale of fraud and corruption across all walks of life - from Wall Street to, far more importantly, Washington, consequences be damned. This was paralleled by an alleged JPM whisteblower describing to the CFTC the firm's supposedly illegal activities in the precious metals space, which while we initially dismissed, we now admit there may be more to the story (stay tuned), even though we still have our doubts. What we are 100% certain of, however, is that yet another whistleblower has stepped up, this time one already known to the general public, and one that Zero Hedge covered just over a month ago: we refer to the case of former CBO worker, Lan T. Pham, who, as the WSJ described in early February, "alleges she was terminated [by the CBO] after 2½ months for sharing pessimistic outlooks for the banking and housing sectors in 2010" and who "alleges supervisors stifled opinions that contradicted economic fixes endorsed by some on Wall Street, including research from a Morgan Stanley economist who served as a CBO adviser. As part of the review, Sen. Grassley's staff is examining whether Wall Street firms or others exert influence that compromises the office's independence." (full story at link)
    Oh my ears and whiskers, how late it's getting!

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    Default Re: Massive Bank and High Profile Resignations Across the World

    Doing the rounds at the moment. I'd better dust down the TV set then, and get the popcorn. Who knows as they say...

    Imminent Televised Event: Mass Arrests of 10,000 Global Cabal Members - 2012

    https://youtube.com/watch?v=6eKhTUU35X4
    Oh my ears and whiskers, how late it's getting!

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    Default Re: Massive Bank and High Profile Resignations Across the World

    We've had resignations, we've got arrests - what colour hat does George wear? - will channel an answer shortly...

    http://www.washingtonpost.com/blogs/...lRGS_blog.html

    Posted at 03:01 AM ET, 03/16/2012
    George Clooney arrested in D.C. outside Sudan embassy
    By Aaron Leitko and James Buck
    George Clooney, Martin Luther King III, several members of Congress and other activists were arrested by the U.S. Secret Service and taken away in plastic handcuffs outside the Sudan embassy on Massachusetts Avenue Friday morning.

    The group was protesting the Sudanese hunger crisis, accusing President Omar al-Bashir of blocking food and humanitarian assistance from reaching hundreds of thousands of Sudanese.
    Oh my ears and whiskers, how late it's getting!

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