Friday, March 16, 2012

Why Are Bankers Jumping Ship In Record Numbers, Financial Collapse Imminent?

Anthony Freda Art
Brandon Turbeville
Activist Post

On March 6, 2012, I wrote an article entitled, “Mass Banking Resignations Signal A Purging Has Begun?” in which I discussed the seemingly large number of banking resignations taking place all over the world. At the time the article was published, the number had reached 122 announced resignations.

This past week saw yet another high-profile resignation where an executive from Goldman Sachs quit in a blaze of glory taking aggressive swings at his former company and the finance industry as a whole in a widely publicized resignation letter in the New York Times. As a result of Greg Smith's damning indictment of the "culture of greed" at Goldman Sachs, they lost over $2 billion in market share because of the bad press.

The overall list of resignations, originally compiled by the independent blog, American Kabuki, raised a number of questions for most who had the opportunity to go through it – this writer included. This is not surprising since, when one reads that 122 banking officials have resigned from relatively high-level posts, one naturally wants to know why.

Upon first reading, the resignation figure seems quite large. However, considering the number of banks in business around the world, it might have occurred to some that 122 resignations might not be quite the massive exit that many initially suspected it to be. After all, with so many institutions around the world, particularly in the midst of a worldwide economic depression, wouldn’t resignations of this scale be expected? In short, one of the baseline questions that needs to be asked when discussing the recent banking resignations is, “Is this really such a big number?”


Indeed, ever since news of the resignations first came out, no one in the mainstream or alternative media has been able to demonstrate what exactly a normal number of resignations would look like.

However, another recent post by American Kabuki may help shed a little light on this issue.

According to American Kabuki, because of the Securities Exchange Act of 1934, all publicly traded companies must report to the SEC (Securities Exchange Commission) whenever certain officers or board members resign from their post. This publication is made via the database known as EDGAR.

American Kabuki states that, after investigating the database (Form 8-K, Item 5.02), they were able to search terms such as “Resigns” or “Resignation.” The figures reported by the blog as a result of this search are interesting to say the least. Take a look at the figures presented by American Kabuki below:


Considering American Kabuki’s research regarding the detailed list of banking resignations it produced weeks ago, the staggering increase in resignations seen in this chart obviously warrants a closer look.

However, it is also true that we must view these statistics with a dose of healthy skepticism. First, as the blog states, these resignation results were not broken down by industrial sector. Every resignation is included under the banner of the Standard Industrial Classification (SIC). This means that the figures in the chart do not necessarily represent banking resignations alone, but the resignations of the entire industrial sector.

Second, EDGAR apparently rounds its numbers when generating reports.

I was unable to authenticate these statistics for myself. Nevertheless, if these statistics are to be believed, then the number of resignations amidst large banks/corporations and other entities has jumped through the roof just in the last few quarters. Because the vast majority of these institutions are so intertwined with one another, the term “Standard Industrial Classification” is quite an accurate description in any event.

Regardless, if American Kabuki’s statistics are indeed accurate, we must start asking ourselves the question as to why these individuals are leaving their posts at such an alarming rate. Is it because they are attempting to avoid a coming investigation? Or is it because they see the coming collapse of the worldwide financial system looming around the corner?

Or is it something else?

At this point, all we have are more questions. It might, however, be a good idea to start searching for answers as soon as we can. After all, it would appear that there are many who know something that we don’t.

Brandon Turbeville is an author out of Mullins, South Carolina. He has a Bachelor's Degree from Francis Marion University and is the author of three books, Codex Alimentarius -- The End of Health Freedom, 7 Real Conspiracies, and Five Sense Solutions. Turbeville has published over one hundred articles dealing with a wide variety of subjects including health, economics, government corruption, and civil liberties. Brandon Turbeville is available for podcast, radio, and TV interviews. Please contact us at activistpost (at) gmail.com. 

Read other articles by Brandon Turbeville here.

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23 comments:

Anonymous said...

GoldmanSachs is the most corrupt private institution, even used to indebt Greece to destroy the Euro currency to eliminate competition to the declining US dollar

Anonymous said...

Obviously there not stupid, fill your pockets,head to the estate in the country. Watch from the poolside big screen.

Anonymous said...

Minor point, but Goldman Sachs didn't lose $2 billion in "market share" but in "market value". More's the pity.

Anonymous said...

They resign out of fear; take the money and run.

Anonymous said...

Logically people would only ditch a well paid bankster job if there was no longer a future in it. I don't think they are resigning through fear of criminal charges, because what difference would resigning make. Guilty is guilty, it wouldn't make any difference to a court. It has to be the totall collapse of the ecconomy and the start of a huge global depression... what would you do in their situation.

Anonymous said...

All those connected to banking swindles of the past, should not be allowed to resign until they repay all the money they stole, repair the damage to the economy, and recompense the wrongs to all those affected by their actions. Also, the other people, who should be made to do this are: ("bent willy") alias Bill Clinton; ("dumbiya") George Bush and his sidekick "thicko dicko" Cheney; "greedy loon" Alan Greenspan, & every sucker in the Senate and Congress that has ever voted for any bill detrimental to the well being of the Americans, who were and are dependent on jobs derived incomes! There should be no hiding place for these criminals, and all those who even attempt to prevent this from happening, should be given the same treatment, that Putin gave Khodorowski!
The only jobs that should be given to every one of these "suckers", are street cleaning, and unblocking of sewer pipes for the same hourly rate that all others performing it get at present!

Anonymous said...

Too many Americans are overworked , under payed , don't have secured jobs , are too indebited , don't have access to decent health care ....the debt based economy will collaspe after the last available loan will be given to international investors on December 21st 2012

Anonymous said...

On March 20, Iran will no longer accept US dollar for oil. It may be that on this day, US dollars will be sold on the market, bursting the dollar bubble. That is when the SHTF. If it becomes a trend, since it seems the US is hated, sorry despised by every country, and harming it economically would bring much joy to many. How's it feel to be so hated all while "spreading democracy?"

Anonymous said...

A clarification may be in order here regarding the compilation of the data. The American Kabuki article in which this data is contained was originally from "LordOfArcadia" as a post at AboveTopSecret. (/forum/thread818860/pg1) Unless they are one and the same, American Kabuki reposted "LordOfArcadia's" information from AboveTopSecret, and is not the original source. I did not detect that American Kabuki was attempting to take credit for this work, or was endorsing it, but rather simply providing the introduction to the thread. There has been various results obtained employing different search strategies, according to the ongoing thread. -Jon

Anonymous said...

I think it's time for the general public to also "Take the money and run."

Everyone that lost money in the 2007 collapse has still not made back what they lost.

Those over paid bankers told us not to panic and leave our money in our retirement accounts.

I think it's time that we cash out those funds before there is a crash.
Money in your pocket now is better than in their banks.

If the markets do crash, you will have the money to reinvest IF the market pick up again.
If they don't m[ick up, you have money for for food for your families.

Your choice.
don't continue to sit on the fence.

Anonymous said...

Now is the time to take your money and run.

If a crash is coming, you will loose every cent in your retirement funds. Cash them out now! It will be better in your pocket than in the banks.
If a crash happens you will still have money to feed yourself and your family for a while.

If you wait, it will be too late.
You can bet the bankers have a "cash" supply some place.
Do the same for your family!

Anonymous said...

I have several of them tied off in my barn. I have been feeding them daily until I read this article. Because of all the press and uncertainty in the news lately, I must lower the feeding of the "former bankers" to twice a week. As I have opened an used my last 8 pack of TP, guess they will need to be creative when
relieving their collective _ _ _ t.

Anonymous said...

Be nice to track back a few more years than 2008. Don't know to many folks who voluntarily left any job in that time frame.

Anonymous said...

One thing is for sure, they don't fear the investigations that will never happen. I can't understand why they would abandon the sinking ship impending its collapse. Where would they go? It would make more sense for them to stay and ride that bull till the end so they can suck it till it's dry.

Anonymous said...

Bankers have been practicing swindles for centuries. The banking executives have golden parachutes with a silver lining. This financial crisis will still be further magnafied by the effects of an economic crisis which will stop dealing on the exchanges and bring industry to a stand still. The international bankers shall creat by all secret sub-teranian methods open to them and with the aid of gold which in all their hands an international economic crisis which will throw whole mobs of workers on to the streets throughout all the countries of the world. The banking executives won't be heading for the exit doors with worthless Federal Reserve Notes, they have their money in hard currency in the form of gold and silver that is stored in under ground vaults off shore. Before the bottom falls out from the economy, they will be flying out of country to their off shore refuges. The 99% of the people that don't have golden parachutes with a silver lining will will crash to the ground and bare the full blunt of the blow. Than the working stiffs will be rioting in the streets and martial law will be declared and the rioters will be thrown into concentration camps or reeducaction camps. Welcome to the NWO. When the dust clears the elite will come back and will be buying property for silver dimes on the dollar. Their is always a few people that profit off of other peoples miseries.

lifeisfullofchoices said...

There were actually 358 resignations noted by American Kabuki prior to you writing this article, not 122. These are not comprehensive and represent a large effort scouring for resignation notifications. I do not know but if I was a major bank or investment house in this sentiment toward banks I might not publicly annouce some resignations. Lets be as accurate as we can at this moment as we ponder the reasons and validity of this subject, and invite others to do the same.

The non-industry specific resignations are immense and actually the LordofArcadia of Activistpost.com presented that information. Looks like he reviewed it by week for 2012 to get a more accurate number than the rounded numbers the initial queries created.

Anonymous said...

Wow, u spoke truth

PhilippnoBob said...

Better keep the system working, even corrupt or bankrupt, it doesn't matter, it still works just fine for most.
Collapsing it is a sure way to hell for all of us.
Even those who wish its collapse better think twice, unless they wish to visit HELL!

Anonymous said...

Along with religion and mass media, the financial system is a primary means by which the elite control the masses. Clearly it is designed to benefit them and keep them on top and the rest of us under the boot (or polished wing tip).

The elite can benefit from occaisionally crashing the system. This allows them to buy up real-estate and businesses for pennies on the dollar, curtail freedoms, and justify profitable (for them) wars to the public. Plus, it is hard for the masses to fight back when they are homeless and starving - bonus!

For the rest of us to prevail, the present system must go. Either way, some type of banking upheaval is inevitable, for better or worse.

Just look at history. Anytime the financiers get their way and set up an economy based on inflatable funny-money, the bubble eventually bursts.

Anonymous said...

@Anonymous (March 19, 2012 11:58 AM):

"For the rest of us to prevail, the present system must go"

You said it.

Anonymous said...

colony collapse disorder.

Anonymous said...

perhaps this is a manifestation of nerasa,..the new bank system being instituted by...the good guys,..thwarted thus far by bush/clinton crime family/illuminati
..the farm aid payout 6 trillion dollars,..is tied in ,,federal reserve system collapsed debt releif worldwide,..no more irs(a privite corporation incidentally based in puerto rico),.the web is huge extending into all aspects,,food water ,..weather haarp control,fema camps,.poulation extinction ,.etc,..sse james rink a change is coming pt 1-3

casers said...

I don't know much about anything, but I've seen "Inside Job" and read in the paper about an economists (or something) meeting where they said the debt will finally be too big by "around the end of this decade".
So it's strange to hear bankers are starting to jump ship.
What I can't understand at all is how anyone can turn a blind eye to how obvious it is that we have to really tighten down the false "funny-money" bubbles with regulation.
Everybody: I scrub toilets for a living, and even I can understand the "Inside Job". It's not a conspiracy theory.

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