It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Massive Wave Of Resignation (Part IV): It's Not Slowing Down!

page: 4
117
<< 1  2  3    5  6 >>

log in

join
share:

posted on Mar, 5 2012 @ 02:27 PM
link   

Originally posted by regor77
reply to post by jws43yale
 


Why didnt you word it "I am a banker and......."? I spose it would have sounded like you were defending colleagues. Are you?


I just wrote a post, didn't know the wording of each sentence was going to be read into so much. I am a banker (posted in other thread that I worked at UBS for some time), albeit a young one who is still somewhat of a "monkey" for all intents and purposes.

In terms of defending my colleagues, there would be nothing to defend them against. My current firm is a boutique that works on restructuring and pretty much every person I work with is a great guy.

As for the finance industry as a whole, there are always bad apples, but in general most people work hard, have families, enjoy what they do and have no ulterior motives.

All I am trying to point out is that this cycle of resignations has occurred every single year since I have been in the industry. Bonuses are paid in February and most people who are retiring or moving to other firms let their employer know shortly after bonuses are paid. Additionally, at higher levels, it is better to transition at fiscal year end rather than in the middle of a quarter for a variety of reason (SEC disclosure, accounting, etc.).

Much of what is on ATS is very interesting and I enjoy reading many of the topics. That being said, it is absolutely ludicrous that people on here are speculating about the end of the world, massive conspiracy, etc. because something that happens every year is getting more coverage than usual. For all I know there could be some kind of conspiracy involving the highest levels of bankers, but year end resignations have absolutely nothing to do with it.
edit on 5-3-2012 by jws43yale because: (no reason given)




posted on Mar, 5 2012 @ 02:43 PM
link   
reply to post by jws43yale
 


Appreciate the insight!




posted on Mar, 5 2012 @ 03:51 PM
link   

Originally posted by stuncrazy
reply to post by Starchild23
 


i would say the main reason for the many threads would be to update the information. if there were a better way to put updates on the first page of the OP then i'd say this is rehashing, but considering to update you would have bury the information deep in the thread. i think it would be better for those interested to start a new thread.

as for the OP this is starting to get crazy. really makes alarms go off in my head. considering i don't trust anything i automatically assume the worst. which is that the boat is heading for an iceberg and only those steering the boat can see it coming so they're jumping in the life boats before it crashes.


Right, this is exactly why I'm making separate threads. I can't edit the OP once 4 hours have passed since it has been posted, and updating within the comment section isn't very useful as it gets burried pretty quickly. I'm keeping the updates because many people asked to be kept up to date. Those who think it is rehashing are free to not read the thread.



posted on Mar, 5 2012 @ 04:00 PM
link   

Originally posted by jws43yale

Originally posted by The Sword
reply to post by dplum517
 


Let's see statistics from the past about banker resignations before we jump to a conclusion.

I'm sure that they happen every year.


I posted alluding to exactly what you do above in the previous thread but was completely ignored as people would rather create a big conspiracy over this rather accept the much less spectacular truth.

This isn't part of any conspiracy. I work in finance and it is very typical for resignations to come in this time of the year (right after bonuses are paid). This year there have been a larger number of departures from US banks given cutbacks in pay and bonuses but this is something that happens every single year.

Unfortunately I don't think data is available to specifically validate numbers by year. Might be able to find in old Google News searches. Issue is the topic has been highlighted alot more with banks coming under more scrutiny. GS has multiple partners retire every January/February but this is the first year I have seen actual articles about it.

This really is usual course of business in finance but is just receiving more coverage this year than normal given all the emphasis on banker pay, etc.


From my original post:




Some people have suggested in older updates that this may be a yearly occurance, where the bankers quit once they receive their bonus. It does seem to make sense in some of the above cases, however, we are seeing a lot of bankers quitting because of scandals, corruption or undisclosed reasons.

For those who have said this could be due to the bonuses, when do you expect this to end?


This was directed to you, I did not ignore you one bit, even included your theory in the OP. I am not making a big conspiracy instead of accepting a not so spectacular truth, I'm actually asking people's opinion on this one. There has been a lot of movement in the banking system lately, such as the confiscating of tens of trillions of bonds, or the soon to be implemented Basel III that should scare a lot of bankers away.

After all, some of these bankers have been in service for decades, and I don't really recall the last time when 6 CEO's of central banks announced their departure...in just 3 weeks. In this same period, the head of the World Bank announced his resignation. I don't think it happens every year, to be honest. Of course, there are probably tens of these bankers that are resigning because they've got their bonuses and want to call it a day, but I think there is a little more to this story.



posted on Mar, 5 2012 @ 04:09 PM
link   
Maybe they are leaving in preparation and formation of a new world currency and world bank. None of us seem to have gotten the memo...



posted on Mar, 5 2012 @ 04:25 PM
link   

Originally posted by OliArtist
Just a thought here, but might it be that important bankers are stepping down or planning to because of the Greek default. The Telegraph in the UK is reporting that Greece might finally default this week or next; there is already a thread about it here www.abovetopsecret.com....

Anyway the point being this:
If the CDS (Credit Default Swap) commitments are triggered, and they would be by a Greek default, the actual debt exposure of the banks will possibly be far greater than the majority of people (including politicians) realise. After all, if the average debt is leveraged say 30-50 times, and each time it is leveraged extra fees are added (basically financial entities selling insurance on debt, then insurance on that insurance, and then insurance on that insurance, and so on and so forth) then the actual international financial system-wide liability for a Greek default may be say almost one hundred times the actual 'on the face of it' debt.

An added problem is that because all of these CDS sales were made as separate business transactions, the paper (or electronic) trail will be very convoluted and difficult to pin down. It will also mean than many financial entities that have never dealt with Greece or Greek debt directly will be utterly exposed, and many may not even realise it, especially if they are far up the rungs of the leveraging ladder.

Look at it like this. We know that the notional debt of the world is of a value many hundreds (perhaps thousands) of times higher than the real cash that exists in the world. Scaling it down what we have done is create a system where even a relatively minor economy like Greece defaulting will create a trauma of a scale many hundreds (or perhaps thousands) of times the scale that one would at first imagine.

I suggest that the bankers who are resigning, being the ones who created, or at least encouraged, this system have been some of the few to truly recognise the true scale of the impact a Greek default will have. Also I would add that there is no way out of this. If Credit Default Swaps are not honoured then the effects will be even worse because all lending will stop overnight to most nations. After all, if in one default CDS obligations were ignored, why would any lender trust them again for any other country - and the sad fact is that most nations are, in all reality, such bad risks that no lender in their right mind will be prepared to make a loan without an insurance policy.

So there you go, its all pretty simple. Its like an asteroid hitting the Earth and causing a mass extinction. The asteroid (in this case Greece) looks pretty small, but its the hidden stuff we can see like the material its made of and the kinetic energy that will cause massive damage. In Greece's case its not the debt we hear about from the Eurozone politicans, or the ECD, or the commentators on Bloomberg, nope, its the massively larger liability from the over-leveraged CDS system.



That is one very interesting theory.

Just a related note: Greece one-year bonds...are now at 1006,66% (Source: pigbonds.info). Less than a month ago, they were a 500%, meaning it doubled in 3 weeks or so...

3 weeks or so...that is very timely with when the mass resignations started once again. There may be something to what you are saying. Here, look at this chart representing the market value of the one-year greek bonds:

This is for a full year:


Just this month:


Source: Bloomberg

We can easily see it's growing exponentially, and it's quite unsustainable. I think the rumors about Greece defaulting very soon are very plausible!

Thanks for this theory!

edit on 5-3-2012 by Gab1159 because: (no reason given)



posted on Mar, 5 2012 @ 05:17 PM
link   
This does not necessarily mean that TPTB are losing their grip.

It could mean that they're using this as an opportunity to move their own people into positions of power, just in time for a fall.



posted on Mar, 5 2012 @ 05:46 PM
link   
reply to post by OliArtist
 


Great first post, 100% in agreement with the OP!!!

Amazing!



posted on Mar, 5 2012 @ 05:50 PM
link   
I still vote that this is more likely a CONSOLIDATION OF POWER, than a house cleaning.

There is no mechanism in place to bring justice to any corporation who has spent a few million (money from between the cushions) on buying judges and politicians.

The FBI is busy being a profit enforcer for music and video industry, FCC going after profanity if it's from a non-corporate source, the EPA and FDA providing cover for the corporations that kill.

If our system weren't so broken, I'd be very pleased and hopeful right now -- but it's not. Just want to cushion the disappointment -- not trying to take the wind out of people's sails. I'd be very pleased to be wrong.



posted on Mar, 5 2012 @ 05:53 PM
link   
reply to post by OliArtist
 


...


After all, if the average debt is leveraged say 30-50 times, and each time it is leveraged extra fees are added (basically financial entities selling insurance on debt, then insurance on that insurance, and then insurance on that insurance, and so on and so forth) then the actual international financial system-wide liability for a Greek default may be say almost one hundred times the actual 'on the face of it' debt.


The Greek default would only cause a problem as the straw that broke the camel's back. The TRIGGER event should not be mistaken as the culprit.

The amount of money involved in Greece is NOT even a pittance of the 30-50 times leverage that the banks bet on the unregulated markets.

Will it eventually cause a tsunami in the financial industry if there is a mass exodus? Invariably. But it's merely coincidence if it happens right after Greece defaults.



posted on Mar, 5 2012 @ 05:56 PM
link   

Originally posted by babybunnies
This does not necessarily mean that TPTB are losing their grip.

It could mean that they're using this as an opportunity to move their own people into positions of power, just in time for a fall.


We seem to be having the same notion. I really hope we are wrong -- but I'm afraid we are right.

The Tooth Fairy isn't going to suddenly show up and smite some bankers, and food will not fall from the sky on Darfur. Good things aren't going to happen unless we force them to happen.



posted on Mar, 5 2012 @ 06:06 PM
link   
its more than obvious that the OP that the only porpose is to stir as much attention up as possible with this ´resignation infos´. There is absoluteley no use for FOUR threads about this than attention seeking.

on topic, you are presenting this ´infos´as a fact of something exceptional or conspirative, but every day there are people getting fired and hired, whatsoever.
your presentation is rather illusionistic.

Another possibility is that TPTB are just swapping the people on the top with THEIR guys.

please mods delete this thread.



posted on Mar, 5 2012 @ 06:09 PM
link   

Originally posted by VitriolAndAngst

Originally posted by babybunnies
This does not necessarily mean that TPTB are losing their grip.

It could mean that they're using this as an opportunity to move their own people into positions of power, just in time for a fall.


We seem to be having the same notion. I really hope we are wrong -- but I'm afraid we are right.

The Tooth Fairy isn't going to suddenly show up and smite some bankers, and food will not fall from the sky on Darfur. Good things aren't going to happen unless we force them to happen.


With all the research I have done, I find it unlikely that it would be a consolidation of power. In fact, it seems like the Elite structure is loosing it's global appeal and that many countries are turning against them. I cannot point you exactly where I've come to this conclusion, as it involves months of research, but I could lead to this article written by David Wilcock, which is a total eye-opener and sums up the current situation pretty well. If you didn't read it yet, I would strongly suggest you do. It is in itself a mini-book and provides a LOT of evidence that the Elite structure is indeed falling.

I hope you are wrong, though I can't be sure of it!



posted on Mar, 5 2012 @ 06:45 PM
link   
For anyone who is following the resignations, there is a new Facebook acct who is listing all new resignations and arrests in real time. Here is the URL:
www.facebook.com...

edit on 5-3-2012 by Surferess because: wrong url on first post. sry.



posted on Mar, 5 2012 @ 07:21 PM
link   
thanks alot for sharing this!



posted on Mar, 5 2012 @ 07:24 PM
link   
The pigs can run, but they can't hide.

Their day will come. If they leave the US for any place else, will the people there be more welcoming to them? Perhaps at first.

They still need cooks, servants, drivers - real human beings.

Their day will come.



posted on Mar, 5 2012 @ 07:35 PM
link   

Originally posted by bobs_uruncle
reply to post by Gab1159
 


My BIG question would be, if they are retiring (the ones that are anyway or stepping down), where are they retiring to? Might be an idea to buy some land wherever that might be LOL. Bush bought 100k acres in Paraguay?

Cheers - Dave





Have to agree with this. I think it would be Very interesting to see where they go and what, if any, land buys they make. If they are all someplace remote, that may well be a sign that the S is about to HTF. Some of the retirements actually seem legit. The one guy is leaving after decades with the same company.
edit on 5-3-2012 by DAVID64 because: spelling mistake



posted on Mar, 5 2012 @ 08:36 PM
link   

Originally posted by Surferess
For anyone who is following the resignations, there is a new Facebook acct who is listing all new resignations and arrests in real time. Here is the URL:
www.facebook.com...

edit on 5-3-2012 by Surferess because: wrong url on first post. sry.


Thanks a million times for this link, I wish I could add it to the OP so it won't get burried within the comment section. If I am to make another update, I will include it in the OP.

Thank you, it is much more complete than any other "resignation list" I have seen on the web!



posted on Mar, 5 2012 @ 08:59 PM
link   
Just thought I'd update you with some very interesting links that are related to this thread:

ATS: Bankers resignations came ahead of huge unfolding scandal.

In particular this thread, great OP, great comments!
ATS: Theory behind mass resignations of banker elite. (elite behind the global curtain, are monkeys too)


edit on 5-3-2012 by Gab1159 because: (no reason given)



posted on Mar, 5 2012 @ 10:54 PM
link   
Wow excellent work OP on this thread, you put a lot of thought and study into this, great job!! star and flag :-)



new topics

top topics



 
117
<< 1  2  3    5  6 >>

log in

join