Global financial system implosion begins
- Thread starter Falcon
- Start date
xes
F.O.A.D
Is the recent spate of top resignations anything to worry about?(rats fleeing the sinking ship?)
75 top level bankers/polititians have resigned in the past week or so. (since feb 15th)
Here's a list
http://americankabuki.blogspot.com/2012/02/updated-22912-thanks-kauilapele-for.html
another link with a smaller list
http://www.oyetimes.com/business/44-markets/18620-big-bankers-begin-to-resign
75 top level bankers/polititians have resigned in the past week or so. (since feb 15th)
Here's a list
http://americankabuki.blogspot.com/2012/02/updated-22912-thanks-kauilapele-for.html
another link with a smaller list
http://www.oyetimes.com/business/44-markets/18620-big-bankers-begin-to-resign
xes
F.O.A.D
15 trillion dollar fraud exposed, wonder if any of the resignations have anything to do with this?
http://theintelhub.com/2012/02/23/t...an-banks-in-15-trillion-fraud-all-documented/
http://theintelhub.com/2012/02/23/t...an-banks-in-15-trillion-fraud-all-documented/
Crispy
The following psytrance is baṉned: All
hipipol
Peckham Wry
Good point - the turnover is pretty large - and fairly typical
I suspect the chicken guts are better at predicting the future to be fair
xes
F.O.A.D
yeah, but it's not like it was just a few clerks, these were all top level dudes/dudettes. There does seem to have been a big wave of people resiging, if you look at that list (the one with 101 people listed on it) it only has 6 lised for the whole of 2011. Now, of course there may have been many more not on that list, for what ever reason, but even then, only 23 in January, then in this month, the rest of the 75 or so. I dunno, I'm not really in touch with this side of the world, so I can't say wether or not this is the norm. If it's not, would it be cause for alarm?
elbows
Well-Known Member
Well the way Id put it, without spending time going through the list looking at the crappy examples they've included to bump the numbers (e.g. people from not-major-banking countries resigning because the company got done for doing something dodgy), is this:
People leave all the time under normal circumstances. And we should expect more people to leave in the current era because banking is hardly the most fun place to be right now, a lot of the cred and respect that went with it have gone down the toilet and although you can still make silly money, the silly silly money is harder to come by.
Bottom line for me is that stuff like this cannot raise my alert level, because the alert level should already be set rather high. The financial mess has much unravelling to do yet, and I won't try looking into the fog on the off chance of spotting the next acute moment of crisis coming. Should neither be surprised if it suddenly arrives one day, nor shocked if they manage to prop things up in the way we've seen in recent years. ut make no mistake, the crisis hasn't gone away or been dealt with in a sustainable manner.
People leave all the time under normal circumstances. And we should expect more people to leave in the current era because banking is hardly the most fun place to be right now, a lot of the cred and respect that went with it have gone down the toilet and although you can still make silly money, the silly silly money is harder to come by.
Bottom line for me is that stuff like this cannot raise my alert level, because the alert level should already be set rather high. The financial mess has much unravelling to do yet, and I won't try looking into the fog on the off chance of spotting the next acute moment of crisis coming. Should neither be surprised if it suddenly arrives one day, nor shocked if they manage to prop things up in the way we've seen in recent years. ut make no mistake, the crisis hasn't gone away or been dealt with in a sustainable manner.
Pickman's model
Starry Wisdom
elbows
Well-Known Member
Ho ho, more resignation rants like this one please!
http://www.nytimes.com/2012/03/14/o...ng-goldman-sachs.html?_r=2&hp=&pagewanted=all
http://www.nytimes.com/2012/03/14/o...ng-goldman-sachs.html?_r=2&hp=&pagewanted=all
Kanda
Diving wanker
ymu
Niall Ferguson's deep-cover sock-puppet
It's good to have a record on it on this great thread though. T'will outlive the other, and some people catch up late. 
Interesting the "muppets" for small-time investors and "elephants" for the really, really rich ones. Poker players use the terms "fish" and "whale" for the same concepts. They're talked about in exactly the same sort of language also. It's one of the more uncomfortable things about the game for me - although there are many players who show a lot more respect (the good ones who know who it is they're making a living off), and few of them lose more than they would spend on a night out ... or so I tell myself.
Casino banking indeed.
Interesting the "muppets" for small-time investors and "elephants" for the really, really rich ones. Poker players use the terms "fish" and "whale" for the same concepts. They're talked about in exactly the same sort of language also. It's one of the more uncomfortable things about the game for me - although there are many players who show a lot more respect (the good ones who know who it is they're making a living off), and few of them lose more than they would spend on a night out ... or so I tell myself.
Casino banking indeed.
ymu
Niall Ferguson's deep-cover sock-puppet
Nice post from Krugman:
Muppets.Taking Stock
Memories:
Larry Kudlow:
I have long believed that stock markets are the best barometer of the health, wealth and security of a nation. And today’s stock market message is an unmistakable vote of confidence for the president.[Bush]Mark Skousen:
What’s the future for Obamanomics? The stock market’s reaction doesn’t bode well. The Dow has fallen 18 percent since the last trading day of Bush’s term. Clearly, Wall Street thinks that Obama’s tax, spend, and regulate policies will be a disaster.
toblerone3
Grrrrr
OK its gone pretty quiet on the European sovereign debt default front since the Greece deal was cobbled together last month. Has the sovereign debt problem come off the critical list.
More like a very poor quality plastic bung hammered into a leaking hole in a pressure vessel over an open fire (such imagery ..Hmmmmm. feel that PRESSURE BUILD!)
Spain and Portugal up next for the big default - then it's GAME OVER for stabilizing the Eurocrisis. OR if one believes Sarkozy .. "The problem's solved". Don't think so Sarko.
I'm not sure which is more remarkable. The fact that UK oil production fell 22.3% in 2011, thereby sealing the collapse of the UK economy that has become dependent on its balance of payments contribution; or the broadsheets' general conclusion that this has something to do with the price of petrol in the forecourt.
Media energy illiteracy is alive and well. A 22% fall in a DECADE would have been a really serious blow to a so-called "developed" economy.
Source: DECC uk oil production statistics 2011
Media energy illiteracy is alive and well. A 22% fall in a DECADE would have been a really serious blow to a so-called "developed" economy.
Source: DECC uk oil production statistics 2011
Though I'm not your biggest fan usually,falcon, that is a truly gobsmacking statistic. Yep that fall in government tax income alone must put the tin lid on any chance of UK PLC avoiding a double dip recession of some considrable magnitude. Still, at least the North Sea oil revenues were used to create a solid high tech research and manufacturing base, ready for the day................
Divisive Cotton
Now I just have my toy soldiers
I can't be bothered to read a whole PDF document. Can somebody summarise why oil production fell so sharply in the course of one year?
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