The Dominoes Are Falling … and Falling and Falling
... World Bank head Robert Zoellick...suddenly tendered his resignation, I thought to myself: “Ah, at last! ‘they’ are starting to fall like dominoes ... ‘they’ weren’t just “starting” to fall; ‘they’ had been literally tumbling down, like a giant deck of dominoes – all around the world, and for several weeks now.
... Only after a few online searches using ‘banker quits’, ‘bank head resigns’, ‘bank chief steps down’, ‘bank arrest’ and others does the worldwide picture start to come in to view... CEOs, Chairmen, Presidents, Directors, CFOs, MDs and more… In Switzerland, Japan, Australia, Kenya, Saudi Arabia, the USA, Pakistan, Spain, Russia and China…. In France, New Zealand, Venezuela, India, Korea, Iran, Kuwait, Nicaragua, Slovenia and even the Vatican… and many other countries.
Yes, the heads, henchmen and board rulers of the world’s central banks, private banks, financial advisory firms, national banks, the Vatican bank, construction banks, agricultural banks, co-operative banks, investment banks, a charity bank and other financial institutions have all been “miraculously” rolling – resigning, stepping aside, being asked to step aside, retiring, being arrested, becoming the subject of inquiry or about to be charged with fraud.
One by one. Two by two. Or, in the case of the Beeds District Central Cooperative Bank in India – where a group of 10 directors on that bank’s board quit last October, followed three days later by another 12, out of a total of 25 directors – in very large numbers, indeed. All told, dozens and dozens. And each day, lately, there are more...
Stephen: The tally has risen by over 100 since last weekend and now sits at 358. Meanwhile, our good friend American Kabuki, who has slavishly gathered the data each time and clicked and pasted and clicked and pasted to keep us all so brilliantly informed, has decided to take a break. We thank him for his tireless efforts in putting the hard yards in to get the global picture out to us all. This is his most recent post:
358 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS
March 15, 2012
“‘Some big names on Wall Street are eager to step out of the spotlight after enduring years of financial-crisis turbulence and negative attention from politicians and protesters,’
said Peter Ressler, the chief executive of RMG Search.”