It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
This summer, thankfully, has been largely bereft of the dismal trend of bankers committing suicide, but as Bloomberg reports, Thierry Leyne, a French-Israeli banker and partner of Dominique Strauss-Kahn, the disgraced former chief of the IMF, was found dead Thursday after apparently taking his own life by jumping off the 23rd floor of one of the Yoo towers, a prestigious residential complex in Tel Aviv. This is the 16th financial services executive death this year.
A prominent Deutsche Bank executive’s Manhattan death has been ruled a suicide, a spokeswoman for New York City’s Office of Chief Medical Examiner said late Friday. The hanging death of Calogero Gambino, 41, a Deutsche lawyer and managing director, was discovered by his wife on Monday morning. Gambino was found hanging by the neck from a stairway banister in their Manhattan home, according to police reports.
Gambino, an 11-year bank executive, was working with US regulators probing Deutsche’s involvement in Libor rigging scandal, the Wall Street Journal reported.
Deutsche and six other banks were fined by European regulators late last year for rigging the benchmark London interbank offered rate, Libor, used globally to set lending interest rates.
Earlier this year, former Deutsche Bank Senior Managing Director William Broeksmit, who had close ties to co-CEO Anshu Jain, was found by his wife hanged in his South Kensington, London home.
When you are trapped between two massive entities - a multi-national bank as your employer on one side and the justice system on the other, your work and personal life is frozen while the two grind it out, that is going to suck the energy out of your soul.
He has helped the government of South Sudan set up a bank, and he advised the Serbian government on economic issues. He also sits on the board of two big Russian financial institutions.
Serbia recently received approval to start negotiations to enter the European Union and has been seeking to rehabilitate its international image in the aftermath of the bloody Balkan wars of the 1990s. That has prompted some Serbian analysts to question why a country in need of rebranding has hired a disgraced figure who himself would seem to be seeking international rehabilitation.
The Arapahoe County coroner's office said Talley shot himself in the chest seven times with 2½ -inch finish nails from a nail gun before firing a fatal nail into his head. Police found him dressed for work, sitting in his car in the garage and with the motor running.
Clearly Deutsche Bank is slowly becoming Europe's own JPMorgan - a criminal bank whose past is finally catching up to it, and where legal fine after legal fine are only now starting to slam the banking behemoth. We will find out just what the nature of the latest litigation charge is next week when Deutsche Bank reports, but one thing is clear: in addition to mortgage, Libor and FX settlements, one should also add gold.
Recall from around the time when the first DB banker hung himself: it was then that Elke Koenig, the president of Germany's top financial regulator, Bafin, said that in addition to currency rates, manipulation of precious metals "is worse than the Libor-rigging scandal."
It remains to be seen if Calogero's death was also related to precious metals rigging although it certainly would not be surprising. What is surprising, is that slowly things are starting to fall apart at the one bank which as we won't tire of highlighting, has a bigger pyramid of notional derivatives on its balance sheet than even JPMorgan, amounting to 20 times more than the GDP of Germany itself, and where if any internal investigation ever goes to the very top, then Europe itself, and thus the world, would be in jeopardy.
Suicide takes the lives of nearly 30,000 Americans every year.
Many who attempt suicide never seek professional care.
There are twice as many deaths due to suicide than HIV/AIDS.
In 2004, 32,439 people died by suicide. (CDC)
Suicide is the 11th leading cause of death in the U.S. (homicide is 15th). (CDC)
Suicide is the 3rd leading cause of death for 15- to 24-year-old Americans. (CDC)
It is estimated that there are at least 4.5 million survivors in this country. (AAS)
An average of one person dies by suicide every 16.2 minutes. (CDC, AAS)
There are four male suicides for every female suicide. (CDC, AAS)