Renterapport

Jeg har vurdert å publisere en renterapport, den vil hovedsaklig være en månedlig rapport og evt. ukentlig om noe spesielt har begynt å skje.

Jeg har allerede begynt å lage den som en frivillig tjeneste for familiemedlemmer som har kjøpt bolig og har behov for å vite hva som skjer. Den vil også se på pengemengdevekst og andre relevante faktorer.

Ifølge Østerriksk syklusteori og tom. Norges Bank har indikatoren jeg vil følge med på indikert spådd 7 av de siste 8 amerikanske nedgangstidene siden 1960. Men i 2008 antok de at det kunne være et unntak denne gangen.

Det vil ikke være finansiell rådgivning, men heller kommentering av det finansielle markedet. Det vil ikke følge med på alt slags mulig men hovedsaklig den norske syklusen med vekt på det norske kredittmarkedet og boligboblen.

Jeg anbefaler forsåvidt alle bestille seg rapporter ifra Norges Bank slik som pengepolitisk rapport og finansiell stabilitet, selvom de ofte kan ta feil(og i min mening har feil perspektiv) har de god data og oversikt, noe som kan være nyttig for den jevne person med litt forståelse av penger og bank.

Rapporten min, på en annen side, vil være så tydelig at enhver dumrian vil kunne forstå.

Vennligst svar på undersøkelsen(til høyre), slik at jeg kan se an om dette er verdt å publisere.

Er det Greske aksjemarkedet undervurdert ?

Hellas som flere land opplevde en stor boligboble ifra 1994 til 2008, og det er en stor årsak til statsgjeldskrisen, ettersom en boligboble blåser opp statsinntektene og rentemanipulasjon av sentralbankene gjør det også veldig billig for staten å låne.



Nå jeg vet at jeg ofte opptrer som "dommedagsprofet" i enkelte innlegg og at jeg har hevdet at USA vil gå konkurs, og at papirpenger vil tilslutt bli verdiløse. Jeg tviler ikke på det og jeg tror også at flere land vil gå konkurs. Men jeg tror også at så lenge tilliten til papirpenger eksisterer, så vil økonomien gå i sykler takket være pengesystemet.

Det enorme "bear" sentimentet på Hellas og Europa, selvom de faktisk i større grad godtar tap enn det USA og.f.eks Norge gjør er egentlig litt merkelig.

Hvorfor vil ikke Hellas og det Europeiske banksystemet gå konkurs, og lage en større krise ?


...derfor. Draghi vil trykke penger og levestandarden til den jevne borger er irrelevant for han, hans jobb er å sikre banksystemet.

Banksystemet har trukket tilbake kredittutstedelsen deres til den private sektoren helt siden 2009:


Renten i bankenes lån til hverandre har på tross av de har nettopp opplevd en kredittboble vært rekordlave:


Jeg tror dette er en indikasjon på at de greske bankene leger sine tap og at de via inflasjonære tiltak gjennomført av den Europeiske sentralbanken vil etterhvert begynne utstede kreditt til den private sektoren. Samtidig så krever EU reformer som vil gjøre at det meget regulerte arbeidsmarkedet blir mer fleksibelt, som i det lange løpet vil gjøre veksten sterkere.

På grunnlag av det vil jeg si at det greske aksjemarkedet har kanskje nådd et bunnnivå, med unntak av noen slags stor krise som enten gjelder Euroen eller andre veldige store obligasjonsmarkedet, så vil sannsynligvis det Greske aksjemarkedet (som har steget litt siden sommer) være langt høyere om et par år.
Hovedsaklig anser jeg det som contrarian investering:


Greske aksjemarkedet i lengre perspektiv



Sammenlignet med Dow Jones Industrial Average


og Oslo Børs

Man kan klage ideologisk på hvordan Hellas behandles, og uten tvil vil alle andre europeiske land før eller senere bli satt i en liknende situasjon hvor de blir underlagt dollar-bandittene i IMF. Men det er ikke poenget med dette blogginnlegget.

Dette er heller ikke en dyptgående analyse, men heller en tanke verdt å vurdere. De landene man heller bør bekymre seg for er Frankrike, Belgia, Irland, Spania og Italia.

Tyskland mangler gull

Tidligere skrev jeg om Hugo Chavez sin tilbaketrekning av gullreservene ifra London, spesifikt LBMA og Bank of England. Dette var meget relevant ettersom Chavez skulle ha gjort dette samtidig som han sa det var et angrep mot dollaren (som ikke ble rapportert av noen av de norske mediene).

Dette, altså tilstanden og eksistensen av noterte gullreserver, har nå blitt et emne imellom vestlige makter og det kan gjøre at papirpengers kollaps går raskere. Det som har foregått er at i balansen(type regnskap) hvor sentralbanker registrerer hva og hvor mange eiendeler de har, så har simpelthen skrevet at de eier en visse mengde gull uten å avklare i hvilket format. Gull som er lånt ut, er ikke den samme eiendelen som gull i hvelvet til sentralbanken. Den tyske stat er den største gulleieren som nå offentlig ytrer sin bekymring over dens tilstanden.

Der Spiegel(Via ZeroHedge) påpekte noe interessant i denne sammenhengen:

"The Court recommends that the Bundesbank to negotiate with three foreign central banks the right to physical verification of stocks. With the implementation of this recommendation, the Bundesbank has begun according to the report. They also decided to bring in the next three years to 50 tons each of the past at the Fed in New York gold to Germany to get it here to undergo a thorough examination."

Nå hvis de må forhandle seg frem til og få gullet deres, og det over 3 år. Hva sier det om tilstanden til disse gullreservene ?

Lars Schall er en tysk journalist som har arbeidet med dette en stund og dette var en grei oppsummering:

Økonomien bak Fredsprisens politiske spill

It is also worth noting how the EU has completely centralized foreign policy in Europe, as was intended, making it even easier for it to follow the lead of Washington DC. Thus while the economic crisis raged in Europe, Brussels under direction of the US was able to force a blockade of Iranian oil on its member countries which probably would have been impossible to impose on all countries whilst undergoing economic hardship. This blockade has lead to an even worsened relationship between Iran and the West, and the Iranian fiat currency has experienced a depreciation of over 72 % since 2011.


It is hilarious but perhaps not a coincidence that the Prize is given during the EUs biggest economic and political crisis. People and even local “fringe” politicians in for example Netherlands, Greece, Germany increasingly doubt the feasibility and desirability of the Euro and the European Union. The announcement came a day after another PIIGS country(Spain) was downgraded by S&P and was earlier downgraded in June by Moodys even with guarantees of endless monetary inflation by Mario Draghi, head of ECB. As Bagus makes a clear case for in the “Tragedy of the Euro”, and even mainstream economists claim although on the erroneous basis of “Optimum currency area” idea, the Euro is cause of the crisis. It has amplified the ability for governments to run deficits, for credit expansion (the cause of booms and busts) to become even bigger in the wrong areas.



The similarity with the Osama announcement is striking, in April and May 2011 a lot of prominent investors like Bill Gross, were becoming overly bearish on the US economy and its seemingly inevitable government debt crisis. As gold went up 16 % in three months, silver up 48 % in three months and oil 22 % in three months, Obama came on television and announced the assassination of Osama and 54 days later announced oil sales from emergency stock after indicating the measure in april. Concerning Osama they had supposedly murdered him, and then dumped him in the sea claiming that it was “in accordance with Islamic practices”. The dollar bounced back, but only for a short period.

If a positive market reaction, was the aim of this announcement it has already come as the Euro has risen against major currencies(USD falling 3 % against the Euro) , precious metals(gold in Euros falling 5 %, silver down 8 %) and it will probably not last very long.

On the political commentary someone else handles this:




- Takk til Ektepenger

Remonetization of gold ?

I utgangspunktet var det bare rykter som sirkulerte om at BIS diskuterte og gjøre gull en mer sentral del av dagens banksystemet og dermed gjøre det mer likvid. Dette er et viktig steg i prosessen, om myndighetene i et ønske om å redde deres system ifra total kollaps skulle bestemme seg for å gjøre gull til en del av systemet deres.

Som et ytterligere poeng er det viktig å vite at alle myndigheter, sentralbanker, store politiske partier og økonomer som har vært fremmet av myndighetene de siste 80 årene har ført et ekstremt korstog mot gull som penger og spesielt folk som fremmer en gullstandard. De har blitt ledd av, presset ut, kritisert og forfulgt på en meget ekstrem måte.

Det begynte først med at en rekke institusjoner eller lignende de siste årene begynte å godta gull som sikkerhet.

Den russiske sentralbanken(som er blant de ivrigste "forkjemperne" for gull av alle sentralbanker) har godtatt.
JP-Morgan godtok dette som sikkerhet siden 2011, for utlån.
Lignende ting har skjedd i Europa, i Tyrkia, i Vietnam og helt private pantlån mot gull har også blitt vanligere verden over.

Dagens banksystemet er underlagt sentralbanker, som forsøker å koordinere deres handlinger igjennom BIS. Regelverket for BIS sine krav til egenkapital har lenge sagt at det skal endres for å gjøre banksystemet "robust", dette var liksom hensikten med Basel 1, 2, 3 og en dag sikkert Basel 4.
Uansett så har de krav til egenkapitalen som en bank må ha og dette er på en måte "aksjene" bankens eiere vil ha og det er det de vil tape om de går konkurs.
Hittil har bare myndighetene brukt endringer i reglene til å senke verdien som må avskrives av deres obligasjoner ned til 0 %. Det samme med andre favoriserte eiendeler, samt at gull har blitt dyttet ut av systemet.

Det var da en stor overraskelse at BIS sirkulerte et skriv hvor de diskuterte og gjøre gull verdt sin vekt, nemlig ikke tvinge bankene til å nedskrive verdien av gullet med 50 % mens statsgjeld og kontanter ble gitt sin fulle verdi.

Som de skriver selv:

"At national discretion, gold bullion held in own vaults or on an allocated basis to the extent backed by bullion liabilities can be treated as cash and therefore risk-weighted at 0%."

Det er faktisk et meget intelligent trekk hvis de vil at bankene skal kunne eie gull, og dermed sikre seg imot høyere inflasjon og tom. hyperinflasjon. Et verdensomspennende banksystemet hvor bankene er blitt regulert unna og eie gull, og presset til å eie statsgjeld er kanskje ikke så lurt om man ønsker og bevare dagens banksystem(som BIS antagelig vil). Dette betyr ikke nødvendigvis noen slags ny internasjonal pengeenhet hvor gull spiller en rolle, men det betyr at gull vil gjøres mer likvid for banker og eie, og det ville vært en rimelig strategi om de ønsket og beskytte bankene som veldig tydelig er en prioritet.

Så senere utgav de i juni regulerende bankmyndighetene i USA FDIC og FED et skriv hvor de foreslo endringen.

Her:
"The following exposures would receive a zero percent risk weight under the proposal:

• Cash;
• Gold bullion;
• Direct and unconditional claims on the U.S. government, its central bank, or a U.S. government agency;
• Exposures unconditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency;
• Claims on certain supranational entities (such as the International Monetary Fund) and certain multilateral development banking organizations
• Claims on and exposures unconditionally guaranteed by sovereign entities that meet certain criteria (as discussed below)."

Man kan også merke at det har blitt relativt mer "mainstream" og snakke om gullstandarden.

Her er et annet eksempel:



Enda et er BBC innslaget om temaet, for litt siden.

Tilslutt kom så et verdensomspennende oppslag om at "Republikanere vil tilbake gullstandarden":

E24

Reuters

WSJ

Dagens Næringsliv

Det er jo så klart noen republikanere som vil det og den mest kjente og sanne forkjemperen var RP.
Det er noe da tvil om hvorvidt republikanerne vil tilbake til en gullstandard, jeg tror de fleste i det republikanske maktapparatet ikke vil og at det ikke vil skje spesielt med tanke på hvordan de behandlet Ron Paul(1,2,3,4). Ihvertfall ikke uten en slags krise.
Men hvis det blir en republikansk president, så vil det sikkert bli holdt en parade debatt med utvalgte "økonomer" som har forhåndsbestemte meninger imot(Som i 1980). Men bare det at en slik etterforskning vil holdes kan få gull til å stige til en drastisk høy pris.

QE3 - Gull er penger!

QE3 er galskap, har nesten ikke lyst til å kommentere det....så jeg lar Faber gjøre det



BoomBust hadde et bra innlegg om det og de i som opptrer i E24 som han kaller "SJEVSøkonomener".

QE3 er faktisk uendelig og udefinert pengetrykking av 48 milliarder dollar i måneden, mens QE2 var definert som 600 milliarder over en tidsperiode av 10 måneder. Så nærmere 60 milliarder i måneden!

Hipp og hoi! Det sies at Bernanke følger med på aksjemarkedet og det virker som det er det han gjør....



Antar Faber hadde rett når han sa vi bør forvente QE26 :p

Den kinesiske boblen

Problemer i Kina har vært visst om i en stund og Norges Bank kommenterte dette nylig med deres syn hvor de forventer lavere vekst slik mange i finansmarkedene allerede har gjort lenge.

Fra pengepolitisk rapport 12.juni 2012, kan vi lese:
"I de fremvoksende økonomiene i Asia var det relativt god vekst i industriproduksjon og eksport tidlig på året. Noe av veksten skyldes trolig et midlertidig løft fra gjenopprettelse av produksjonskjedene som ble satt ut av funksjon av oversvømmelsene i Thailand i fjor høst. Økonomiske indikatorer peker mot en noe svakere underliggende vekst i industriproduksjon og internasjonal varehandel enn vi har sett så langt i år. I Kina har myndighetene satt i verk tiltak for å støtte opp under økonomien, etter svak utvikling i boliginvesteringer og eksport inn i andre kvartal.
Sentralbanken[Kina] har redusert bankenes innskudds- og utlånsrenter for første gang siden 2008, og investeringene i infrastruktur øker. Myndighetenes tiltak reflekterer økt usikkerhet om både vekstutsiktene innenlands og utfallet av statsgjeldskrisen i Europa. Også i India har veksten vært svakere enn ventet. Banker i fremvoksende økonomier har meldt at likviditetstiltakene fra ESB bidrog til å lette deres internasjonale finansieringssituasjon og at det virket positivt på utlånsvilkårene, se figur 2.4. De siste måneders uro i Europa har imidlertid ført til økt varsomhet blant aktørene i internasjonale finansmarkeder, og trolig virket negativt på kredittilgangen også utenfor Europa. Vi anslår veksten i Kina i år til 7½ prosent, ½
prosentenhet lavere enn i Pengepolitisk rapport 1/12."

Kina har store systematiske problemer som de massive investeringene i langvarig kapitalvarer rettet mot produksjonen av infrastruktur, boliger ol. via de statlige selskaper. Dette i enda større grad etter finanskrisen, for å "stimulere økonomien":


Store deler av denne høye BNP-veksttallene som har kommet fra Kina, har blitt drevet av investeringer i varig kapital. Disse har i større grad spesielt siden 2002 blitt finansiert av banklån gitt til statlige og ikke-statlige eiendomsutviklere ol.


Som man kan se var det enorme investeringer i infrastruktur-utvikling og det har spesielt foregått i 2006-2007, og deretter som en del av "stimuleringen" i 2009.

Likedan viser også de fleste indikatorer mot raske krampetrekninger av aktivitet:

Ikke siden finanskrisen i 1997(Asia-krisen) , har kinesisk varesalg(detaljhandel), tapt så mye som i 2009 og som hittil i 2012.

Nå, problemet er ikke investeringer i infrastruktur og boliger i seg selv, men at dette har blitt finansiert via enorme økninger i pengemengden, bankkreditt og innskytelse av utenlandsk penger. Husk, USA har økt pengemengden enormt og dermed tilgjengeligheten av kreditt i dollaren i verdensmarkedet og spesielt med Kinas tidligere faste valutakurs ovenfor $ så vil det materialisere seg i høy pengemengdevekst, kredittvekst og prisinflasjon.



Det er nettopp prisinflasjon kineserne prøvde å dempe ved å stramme inn veksten i penger, via å heve reservekrav(1,2,3,4 rundt 11 ganger siden 2010)  og ved å heve renter. Men den reverserte kurs etter at økonomien begynte å trekke seg sammen(1,2,3).


Det vil kreve en enorm ekspansjon av penger og kreditt for å motbalansere det trykket som vil vises i finansmarkedene når disse imbalansene viser seg i enorme tap for kinesiske selskap spesielt i den sektoren, samtidig som at Europa og andre land ikke kan kjøpe likemye av det Kina har tjent mye på å produsere hittil.

Dette kan slå ut veldig sterkt i råvarepriser og da spesielt viktig for Norge, i oljeprisen og det har allerede vært mildt fallende oljepriser. Mens økonomene i Norges Bank, som er oppfostret på Keynes og nyklassisk fantasi vil ikke kunne gjenkjenne dette ettersom de bare ser på overfladiske karakterer(som de aggregatene jeg poster her) og ting som prisindeks, bnp osv. De forstår ikke de strukturelle problemene som en ekspansjon av penger og kreditt lager.

Dette er ikke en prognose for at Kina vil kollapse totalt, de har fortsatt mye positivt ved sin økonomi men deres modell for eiendomsutvikling og infrastruktur er vanskjøtsel. De som vil si at Kina har såpass kontroll over økonomien at de kan ved tvang allokere ressurser hvor de vil, må huske på at de har fri prissetting på aksjer, eiendom og mange andre investeringer/varer. Disse kan falle så lavt det kreves for at kineserne eller utlendinger vil kjøpe dem. Det at både den gjengse sjeføkonom i Norge, akademikere og statsansatte keynesianere tror det går supert bør være en advarselsplakat i seg selv. De fleste jeg har snakket med som jobber innen finans, mener de har en "soft landing" i vente.

Det er nok her relevant å minnes at i den tredje utgaven av pengepolitisk rapport 2007 hadde de dette å si om den amerikanske boligboblen:
"På bakgrunn av uroen i finansmarkedene og den svake utviklingen i det amerikanske boligmarkedet har vi justert ned anslagene for BNP-veksten i USA med ¼ prosentenhet for 2007 og med 1 prosentenhet for 2008. Også veksten i Vest-Europa anslås lavere i 2008, mens anslagene for fremvoksende økonomier i Asia er oppjustert. Samlet er anslaget for veksten blant våre handelspartnere for 2008 2½ prosent, se tabell 2.2(Der fremskriver de BNP-vekst med 2 % i 2007, 1,25 % i 2008 og 2,75 % i 2009-10. Dette er en nedjustering på ¼ prosentenhet fra forrige rapport."

Kina kontrakterer

Jeg drev i utgangspunktet og skrev et innlegg om den kinesiske boblen , og det at den nå ser ut til å kontraktere mer og vil resultere i en kredittkrise i Kina og senke råvarepriser, men jeg innså at jeg kan bare lenke til de som allerede har dekket dette godt.

Den norske finansbloggeren The Boom Bust, har dekket det fint her:
Den statlige dirigering av investeringer med billig kreditt
De ubebodde byene og politiske problemer og mer politiske problemer
De stadige negative tallene som dukker opp og boblementaliteten blant de keynesianske finansøkonomene
Mer boble tullprat
Mer dårlig Kina-tall

NY Times la også ut en artikkel hvor Tyler Cowen sammenlignet det Østerrikske økonomiske perspektivet på bobler og hva som skjer i Kina, men det Keynesianske(les: det myndighetene følger) perspektivet. Jeg som sagt før er enig med østerrikerne generelt, og helt spesifikt i denne saken. Poenget er at kinesiske banker har satt sin kort tids kreditt i langsiktig investeringer, og når den overdådige kreditt tørker inn vil avkastningen fra disse langsiktige investeringer ikke være nok til å holde de igang, samtidig all konsum og samtidig MER investeringer. Myndigheter har forsøkt å stanse slike kriser før ved å bare holde boblen igang, og det har alltid feilet, det krever tilslutt for mye stimulering i forhold til tilgjengelige ressurser.

Bloggeren, Robert Wenzel har også rapportert om dette i over et år mens situasjonen har foregått:
Dårlige tall: 1, 2, 3, 4, 5 og 6.
Spøkelsesbyer, og mer spøkelsesbyer
Advarsler fra Verdensbanken
Skyskraper indeksen slår alarm


Svensken, Markus Bergstrøm, skrev også om det på Mises i fjor.


Konsekvenser
Jeg tror innsatsfaktorer i bygningsarbeid f.eks stål, kobber og bygningsutstyr vil tape meget. Samtidig de utenlandske selskapene som leverer råvarer til denne kinesiske sektoren, samt forsåvidt konsumboblen i Kina hvor de importerer dyre ferdigvarer andre industrialiserte land.

Dette kan også påvirke olje sterkt, og dermed oljesektoren i Norge og dermed lønninger i hele Norge. Hvis lønninger synker i Norge vil kanskje folk sin evne til å betjene gjeld og ønske om å ta på seg mer gjeld svekkes, og dermed dytte over korthuset som er det norske boligmarkedet. Effekten av sterkt fallende oljepriser var ikke så forferdelig i 2009, og uten tvil vil Oljepengene(evt. statsgjel) bli brukt til å stimulere om nødvendig men det kan ikke nødvendigvis arrestere en allerede massiv boligboble som trekker seg sammen.

En ting er ihvertfall, dette vil ikke være uten konsekvenser og jeg putter mine penger på prisfall av innsatsfaktorer til bygning, veiarbeid ol.

CNBC sier sannheten

Det triste statusen på verdens finansmarkeder som teoretiske sett skal effektivt allokere kreditt, har ikke blitt annet et global casinospill basert på sentralbank stimulering. Hver gang det har inntruffet en resesjon eller nedgang i finansmarkedene så har FED og forsåvidt Norges Bank, BOE, BOJ osv. kommet på banen og senket renten lavere og lavere.

De grå områdene er resesjoner, offisielt ifølge amerikanske myndighetene er ikke USA i resesjon.

Slik er verden i det keynesianske systemet, hvor den eneste hindringen til økonomisk vekst hevdes å være at renten ikke er lav nok (den kan bare senkes ved pengetrykking).
Keynes var såklart ikke annet i livet sitt enn en byråkrat og spekulant inntil han ble en verdensberømt "økonom" . Som spekulant tapte han alle pengene sine, og vant dem tilbake først etter å ha tigget de britiske og amerikanske myndighetene om å utføre en spesifikk politikk deretter kjøpt aksjer på bakgrunn av dette.

I e24 så man for noen dager siden enda et godt eksempel på det:

Jeg ble så overrasket når en CNBC-vert plutselig begynte å si noe sant:


Du vil aldri engang høre om noe negativt eller kritisk om sentralbanken på NRK(eller andre store medier i Norge med muligens unntak av NA24).

DnB Nor og andre nedgradert!

I dag ble DnB Nor, Nordea og Handelsbanken nedgradert. De ble nedgradert fordi de er for avhengig av å få finansiering ifra pengemarkedet ifølge kredittvurderingsbyrået, og i tilfellet av en finanskrise ville disse pengemarkedene stoppet raskt opp sitt utlån(renter ville økt raskt) og dens som er veldig avhengige av de ville opplevd meget dyre finansieringskostnader.

Her er Moodys grunner:
"The downgrades reflect (i) DNB's reliance on market funding, at around 40% of total funding (ii) exposures to volatile asset classes, such as commercial real estate (CRE) and shipping; and (iii) the likelihood that DNB's relatively diversified earnings will come under pressure from higher liquidity requirements and weaker revenue raising opportunities." - Moody`s

Her er grunnene til at nedgraderingen ikke var så sterk:
"profitability....partly reflecting its more stable domestic economic environment, its increased capital and liquidity buffers, as well as our assessment of a very high probability of systemic support."

Den stabile innenlands økonomien er jeg meget skeptisk til, ettersom jeg tror Norge har en meget stor boligboble. Men dette er relativt mye bedre enn mange land (pga. overskuddet og oljefondet).

Det mest interessant er vel Moodys sin forventning om "systemic support" som er et fancy ord for redningspakker og privilegier.

Nå, jeg synes ikke Moodys mening er så viktig, men det er relevant for mange markedsaktører og generelt interessant at slike "treige" institusjoner begynner å gjenkjenne risikoen i det norske banksystemet.

Kort tilbakeblikk
I oktober 2008 kom Norges Bank og regjeringen med en enorm redningspakker som Halvorsen betegnet som "gullkortet" altså statsgjelden som blir betalt av dine skattepenger, altså dine fremtidige avkom sine skattebetalinger.

Når bankene hadde fått unna sine råtne investeringer over på skattebetalerne fortsatte Norges Bank redningspakkene med en rekordlav rente. Hittil har rentekostnadene og avdragene alene på statsgjelden pådratt blitt betalt med renter: 154 milliarder kroner(63 milliarder i renter og 91 milliarder i avdrag) og se notat 1. Det er altså 154 milliarder kroner i skattepenger.

Denne redningen og kredittekspansjonen av sentralbanken har så klart bare gjort de norske bankene mer risikovillige. Det er i tillegg til den systematiske fordelen bankene har ved å kunne lage penger ut av intet og være garantert av sentralbanken som "långiver i siste instans" og av det Norske banksikringsfondet.

I sammenheng med redningen kjøpte("byttet") myndighetene de råtne boliglånene i form av en finansiell eiendel kalt OMF som er kort for Obligasjoner Med Fortrinn. Disse obligasjonene er de norske bankenes tilsvarende CDOer, som mange beskyldte for å spre og forverre effekten av finanskrisen. Disse OMFene som nylig hadde blitt lansert ble da tatt i bruk og oppfordret av myndighetene til å brukes for å utgi boligkreditt.

"Til grunn for etableringen av OMF i 2007 lå et omfattende og detaljert lovgivningsarbeid, initiert av næringen og støttet av myndighetene." - Finansnæringens Fellesorganisasjonen

Her ser man totale innenlands gjeld og etter kilde.



Her ser man den totale innenlandsgjelden og det som har blitt finansiert via såkalte kredittforetak som hovedsaklig er fra OMF.

Disse OMFene har blitt omsatt på Oslo Børs til en verdi av 630 milliarder kroner totalt innen andre kvartal i 2011 ifølge Boom Bust blogg.
Dette er så hvordan mange banker finansierer sine boliglån, noe som gjør dem meget eksponert mot et boligprisfall. Jeg har tenkt å skrive mer om OMF i et annet fremtidig innlegg, foreløpig kan jeg anbefale følgende bloggposter og artikler (1, 2, 3).

Ifølge Boom Bust-bloggen har disse OMFene blitt solgt til investorer over hele verdenen:
"Mange av OMF'ene selges til investorer på jakt etter høy avkastning med "lav" risiko."

"J.P. Morgan har de siste årene visstnok vært en stor kjøper av OMF'er i Europa. Hva skjer hvis en av de største kjøperne av disse papirene forsvinner ?" - 22.mai

Hvis kreditorer blir bekymret eller hvis boligprisene begynner å falle kan dette gå meget hardt utover DnB Nor og de andre store bankene. Slik jeg ser på boligmarkedet er dette nærmest uunngåelig.

Slik giring eller forhold mellom innskudd og utlån hos de norske bankene var, er de blant de høyeste i hele verden.

(Se på de lengst til venstre, blant annet Dnb Nor og Nordea)

I tillegg sitter f.eks DnB Nor på over 9 000 millioner i boliglånsobligasjoner ifra Spanske banker, som en del av deres likviditet.



De spanske boliglånene er som alle vet fra før, av en meget dårlig sikkerhet. Sikkert derfor Johnsen er ute i media og forsøker å leke ansvarlig "pappa"(når han selv har skyld i alt dette):



Er du skattebetaler i Norge, bør du nok regne med å betale for alt dette også. I 2010 var de totale eiendelene til alle de private bankene; 3,639 trillioner kroner.
Kanskje det blir for mye for Johnsen, Olsen og Co dermed kan vi kanskje la den:


BURN!


Notat 1:
Renter på statsgjelden
17 millioner(2008) - inkluderte ikke 2008 + 21 210 millioner(2009) + 20 300 millioner(2010) + 21 540 millioner(2011) kroner = 63 050 millioner kroner
Avdrag på statsgjelden
44 951 millioner(2009) + 46 150 millioner(2011) kroner = 91 100 millioner kroner

A short review of End of the Road

The end of the road is a high-quality and a bit of a feel-good type movie, and exactly the type of movies needed by those of us who want to inform people about the ponzi-scheme nature of our monetary system and its fragility.
It starts at the end of the bretton woods system and explains how that system worked, and how it set up the dollar to become the world reserve currency.
It then explains how the gold-backed dollar gave way to the fiat-backed dollar and allowed for endless Treasury debt to pile up. It shows the average person, easily, why this system worked as a ponzi scheme and how it is almost impossible to reverse the previous expansions and how that system needed more and more users of the money, not to be completely destroyed. The animations of the concepts are great, and can help regular people understand what is being discussed.
It also showed some of the side-effects of this continuing inflation. How it had fueled worldwide trade imbalances, and at the same deteriorated the living standard in the US and by extension the developed world.

The presentation is slick, and includes commentary by:
Peter Schiff
James Turk
Mike Maloney
G. Edward Griffin
Alasdair Macleod
Jim Puplava
Adam Ferguson
Eric Sprott
James G. Rickards

Another interesting aspect about the movie, is the development of online independent movie production and distribution. An independent movie fully funded by the views and donations, and not simply a “non-profit” Youtube video but a profitable venture. This is hopefully the format that will allow more funding and more investment into more independent entertainment, and not through Hollywood.

It also touches upon the following themes:
CPI calculation propaganda – “core” vs headline
Export devaluation
Deleveraging
The crack up boom
Gold/Silver Suppression

For the ordinary hard-money enthusiast who was read somewhat and kept up with ZeroHedge, there is hardly anything new. And for the history buffs, such as myself, starting at Bretton Woods is unsatisfactory. But for people who are not “aware” of what is happening, this movie is a great introduction and it only costs 4.99 $.

Rating: 5 of 6

You can watch it here.

Japan nærmer seg stupet

Japan er et land som ofte legges frem som et eksempel på at kvantitative lettelelser "fungerer" eller at pga. "faren" av deflasjon må emuleres. Den framleggelsen forvrir hva som faktisk er hendelsesforløp.

Hendelsesforløpet var at Japan hadde bygd opp en enorm kredittboble på 80-tallet som sprakk og i etterkant av at den sprakk forsøkte de japanesiske myndighetene å redde aktørene enten de var firmaer, banker eller andre igjennom å overføre privat gjeld til statlig gjeld og ved å trykke penger. Helt siden da har den japanesiske  økonomien var en "zombie"-økonomi med banker og en hel masse bedrifter som ikke burde være operasjon, som ikke produserer noe aktivt men bare lever av de forvridde økonomiske forutsetningene som innebæres ved null rente politikk.



Denne null-rente politikken har innebært en frysning av Japan sine produktive evner, en enorm voksende statsgjeld som har spist all den sparingen de japanesiske innbyggerne har gjort.

Nå for å holde dette igang, har de japanesiske myndighetene senket rentene og ekspropriert de som sparer. Samtidig er dette grunnen til at statsgjelden er utgjort i mye større grad av "intern" gjeld enn ekstern gjeld.

Det har "fungert" for de japanesiske myndighetene hittil, men på bekostning av økonomien og framtiden til Japan ettersom det bare har gjort gjeldspyramiden enda mer ubalansert og enda mer kortsiktig. Dette reflekteres i hvor raskt  de utestående gjeldsbrevene på de japanesiske myndighetene må betales for, og siden Japan allerede er i underskudd må de påta seg ytterligere gjeld.

Japaneserne sin vilje til å kjøpe utrolige mengder av statsgjeld, vil nok avsløre seg å møte veggen etterhvert. Ettersom Japan har det samme statlige pensjonsystemet og sosial-demokratiske omfordeling av ressurser imellom generasjoner har bygd opp en enorm eldrebølge. Ettersom de yngre har vokst i inflasjonære tider, er deres sparingsvilje så klart lavere og med enda høyere gjeldsnivå, og høyere skatter er det enda mindre igjen for dem å spare. Dette reflekteres i den fallende sparingsraten for landet, som nylig har nådd minus.

Dette resultert i årets verste budsjettunderskudd og den største andelen finansiering kommer fra utgivelsen statsgjeld. Budsjettet var for første enormt, 38 % av BNP. For andre vil 49-56 % av budsjettet vil finansieres ved nye utlån. Dette gjør Japan meget sårbar ovenfor renteøkninger på statsgjelden deres, det har faktisk blitt estimert at om statsgjelden øker med 1 prosentpoeng så ville Japan vært konkurs.

Tom. finansministeren av Japan innrømmer at problemene er enorme og implisitt "uløselige":
"Japan's budget-making processes and its reliance on public debt have reached their limits," Finance Minister Jun Azumi told a news conference on December 24, the winning understatement of the year. And what solutions did he propose? Well, pass the consumption tax “and somehow reverse the falling birthrates.“
- 26 dec 2011

En ekstra skatt for å lappe sammen en slik situasjon, og "somehow reverse falling birthrates" ? Wow, det er betryggende.

“Japanese Ministry of Finance official admits "Japan is fiscally worse than Greece“”
 – 13. mars 2012 Bloomberg

Som om dette ikke var nok, så er Japan den nest største eieren av amerikanske $ og av amerikansk statsgjeld. Hva vil så skje dersom det japanesiske statsgjeld markedet krever høyere renter ?
Hvis Japan går konkurs, må de benytte seg av alle disse eiendelene. For $ involverer det å bruke dem, og med amerikansk statsgjeld involverer det å selge dem. Hva er konsekvensene av det ? Det vil ikke hjelpe USA med sine egne statsgjeld-problem og kan utløse høyere pris-inflasjon raskere enn mange tror.

Så når Fitch annonserte at de nedgraderer Japan, og dermed dirigerer de hjerne-døde stats-regulerte fondene til å først nå anse Japan som giftig. Så kan Japan være den "sorte-svanen" som drar ned korthuset og ikke Hellas.

Hvis noen vil tjene på det her, er det kanskje verdt å shorte JPY eller å kjøpe japanesiske statsgjeld. CDS-en har såvidt reagert og går dette verre, som det må se ut til, så vil den gå langt høyere.

Japan CDS - 1 års graf

Renter på 10 års statsgjeld - Fra 1988 til 2012

Renter på 10 års statsgjeld - Fra Jan 12 til May 12

600 bankmenn har avgått - JPM sjefen ikke alene

JP-Morgan sjef går av etter derivat tapene, sto det i E24.



Men dette er ikke akkurat et uavhengig tilfelle, hittil har over 600 bankmenn med høye stillinger sagt opp jobben sin, og det er fordi de ser at kollapsen er på vei og uunngåelig nå.

Fra American Kabuki:
"611 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS
I don't mind if you re-blog this listing. Save yourself the wear and tear on your karma and do me the favor of including http://americankabuki.blogspot.com in your reposting. Thanks to all who have caught minor errors. 
Abreviations used:
CEO = Chief Executive Officer
CFO = Chief Financial Officer
CIO = Chief Investment Officer also can be Chief Information Officer (head of IT)
COO = Chief Operating Officer
EVP = Executive Vice President 
CRO = Chief Risk Officer
INC = Incorporated (can be private held or publically traded shares) 
PLC = Public Limited Company (publicly traded shares can be listed or unlisted on stock market)
LTD = Limited Company (privately held)
LLC = American version of LTD, but can have a shareholder/member that is an INC, often hybrids of both
AG = German version of PLC
AB = Swedish version of PLC
SA = Society Anonymous in various latin languages - same as PLC
NV = Dutch version of PLC
BV = Dutch version of LTD 
LP = Limited Partners (partnership with limited liability)
REIT = Real Estate Investment Trust
Click here to scroll to latest additions to list, then scroll up.

1. 9/01/11 (USA NY) Bank of New York Mellon Chief Robert P. Kelly Resigns in a Shake-UP
   http://goo.gl/NdW7q
2. 9/06/11 (BELGIUM) Dexia confirmed that its CEO Stefaan Decraene had left the company. Its exposures to sovereign debt in the PIIGS nations are larger than its core Tier 1 capital.
   http://goo.gl/vuhvd
3. 9/08/11 (US OR)PremierWest chairman John Anhorn retires
   http://goo.gl/ltkXf
4. 9/09/11 (GERMANY) European Central Bank (ECB) governing board member Jürgen Stark, who has resigned
   http://goo.gl/t83S4
5. 9/09/11 (US OR) Chief investment officer for the Oregon State Treasury  Ron Schmitz  resigns.
   http://goo.gl/nZ88q
6. 9/12/11 (HONG KONG) HSBC Group Hang Seng Bank Non-Executive Director Mark McCombe resigns
   http://goo.gl/mCTgi
7. 9/12/11 (US PA) First Commonwealth Financial Corp, EVP strategic resources  Thaddeus J. Clements  resigns
   goo.gl/6ZMXF
8. 9/13/11 (US MA)  Eastern Bank wealth management head Carol McMullen  resigned
   http://goo.gl/DJSqC
9. 9/14/11 (USA NJ) Columbia Bank CEO Raymond G. Hallock Announces Retirement
   http://goo.gl/UjUZY
10. 9/14/11 (NEW ZELAND) AMP NZ Office Limited (ANZO), Mark Verbiest has resigned as a director. His resignation arises due to his desire to devote the necessary time and energy to his prospective new role as Chairman of Telecom, assuming the Telecom demerger is sanctioned by Telecom shareholders.http://goo.gl/LjSI0
11. 9/15/11 (USA NY) Morgan Stanley, Chairman John Mack resigns
    http://goo.gl/jWWv7
12. 9/16/11 (US FL)  Atlantic Coast Bank President and Chief Operating Officer Robert Larison  retires
    http://goo.gl/z3EJL
13. 9/18/11 (JORDAN) Central Bank governor Faris Sharaf resigns over policy
    http://goo.gl/8yU5N
14. 9/19/11 (US MS)  COO of Parkway Properties (REIT)  William Flatt Resigns
    goo.gl/Y3kr4
15. 9/20/11 (SCOTLAND) SCOTTISH WIDOWS (RETIREMENT INVESTMENT SAVINGS FUND) There could be no Scottish representative on the board of Lloyds Banking Group, owner of Bank of Scotland, in future after it announced the departure of Lord Sandy Leitch, the chairman of Scottish Widows and group deputy chairman.
    http://goo.gl/Dx8qs
16. 9/20/11 (JAPAN) BLife Investment Corporation (Diawa House Asset Management) Director Masaomi Yamadaira resigns
    goo.gl/EYOau
17. 9/20/11 (US HI)  First Hawaiian Bank's CEO   Don Horner  retires
    http://goo.gl/3rB82
18. 9/21/11 (AUSTRALIA & NZ) JP Morgan Australia and New Zealand Worldwide Securities Services CEO Jane Perry resigned
    http://goo.gl/Qx0Va
19. 9/23/11 (Singapore) Executive board director  Rohit Bhagat has tendered his resignation to the board of BlackRock (Singapore) Limited and BlackRock Asset Management North Asia Limited.
    http://goo.gl/Nksjb
20. 9/23/11 (UK)  UniCredit FX Global Head   Nick Crawford  Resigns
    http://goo.gl/JyWfT
21. 9/25/11 (SWITZERLAND) UBS  CEO Oswald Gruebel quits over £1.5bn rogue trader crisis
    http://goo.gl/WCeqB
22. 9/25/11 (USA CA) American River Bankshares Douglas E. Tow, Executive Vice President and Chief Credit Officer, will retire from the Company http://goo.gl/24aAU
23. 9/28/11 (SWITZERLAND) SNB Bank Council: Fritz Studer resigns as per end-April 2012
    http://goo.gl/7dNiD
24. 9/29/11 (UK) Barclays, Head of UK & European Retail Banking Deanna Oppenheimerresigned.
    http://goo.gl/o63jO
25. 9/29/11 (USA NM) New Mexico Pension Fund Director Terry Slattery Resigns
    http://goo.gl/BzLn4
26. 9/30/11 (SINGAPORE) AIMS AMP CAP INDUSTRIAL REIT, Ms Tang Buck Kiauresigned.
    http://goo.gl/VGxjv
27. 9/30/11 (ICELAND)  Alternate board member of Iceland State Financial Investments  Thórdís Bjarnadóttir resigns
    goo.gl/0c2em
28. 10/01/11 (Iceland)Chairman of Glitnir Bank's Resolution CommitteeÁrni Tómassonresigns
    http://goo.gl/EjuVy
29. 10/01/11 (USA MO) Federal Reserve Bank of Kansas City President Thomas M. Hoenigretired on Oct. 1, 2011
    http://goo.gl/B8WK7
30. 10/03/11 (INDIA) The of Euram Bank Asia, president Arun Panchariya, has resigned after being implicated in a stock trading scandal in India.
    http://goo.gl/yh2bF
31. 10/03/11 (GHANA) Intercontinental Bank Ghana Limited, Managing Director and CEOAlbert Mmegwa resigned.
    http://goo.gl/Vc252
32. 10/03/11 (USA FL) Quantek Opportunity Fund, portfolio manager Javier Guerra. Arbitration awarded $1 million damages to Aris Multi-Strategy Fund. Quantek Asset Management made false statements to Aris.
    http://goo.gl/udpBA
33. 10/05/11 (UK) UBS co-chief François Gouws of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.
    http://goo.gl/OuUjr
34. 10/05/11 (UK) UBS co-chief Yassine Bouhara of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.
    http://goo.gl/OuUjr
35. 10/06/11 (US OR)  CEO of CASCADE BANCORP   Patricia Moss  retires
    http://goo.gl/CBemC
36. 10/10/11 (BELGIUM) Dexia (Franco-Belgian bank) its chairman Jean-Luc Dehaenewill give up his role on the board of Dexia's Belgian division, which is being sold to the Belgian state as part of a rescue deal, the group said on Monday.
    http://goo.gl/vyldE
37. 10/11/11 (UK) BlackRock, head of sterling portfolios and manager of the Corporate Bond fund, Paul Shuttleworth, has resigned after 11 years at the firm.
    http://goo.gl/FMBjw
38. 10/11/11 (UK) Dynamic Funds, portfolio manager David Taylor has resigned.
    http://goo.gl/GZCt5
39. 10/11/11 (CHINA) China Construction Bank Non-Executive Direct Sue Yang resigns for personal reasons.
    http://goo.gl/ip8Un
40. 10/13/11 (UK) Cogent Partners co-head research department Katita Palamar resigned.
    http://goo.gl/TVLWO
41. 10/13/11 (UK) Cogent Partners co-head research department Bill Farrell resigned.
    http://goo.gl/TVLWO
42. 10/13/11 (US OR)  MBank CEO  Rex Brittle  resigns
    goo.gl/D48Vh
43. 10/14/11 (USA TX) Deutsche Bank Investment Advisor Griffin Perry resigns, SEC regulations prevented him from campaigning for his father Rick Perry's Presidential campaign.
    http://goo.gl/R0PgH
44. 10/23/11 (USA) Fairholme Capital Management LLC, Director Charles Fernandezstepped down for personal reasons. Fairholme Fund has lost 26 percent of its net asset value due to bets that have backfired on AIG Inc, Bank of America Corp and Florida-based landowner and developer St Joe Co.
    http://goo.gl/vzTbY
45. 10/24/11 (ICELAND) Icelandic State Financial Investments board members of Icelandic State Financial Investments have resigned following “outside interference” with their Sept. 30 decision to hire Pall Magnusson, the former political adviser to the island’s industry minister, as chief executive officer. [names and positions have been requested from the reporter on 3/9/12]
    http://goo.gl/lEpz2
46. 10/24/11 (SINGAPORE) Keppel Corporation Limited, Teo Soon Hoe will resign from his role as group finance director Jan 1.
    http://goo.gl/l90be
47. 10/26/11 (INDIA) Beed District Bank (Coop Bank) CEO B S Deshmukh arrested for embezzling Maharashtra State Electricity Distribution Company Ltd payment deposits.
    http://goo.gl/CXL7Z
48. 10/26/11 (INDIA) Beed District Bank (Coop Bank) former CEO A N Kulkarni arrested for embezzling Maharashtra State Electricity Distribution Company Ltd payment deposits.
    http://goo.gl/CXL7Z
49. 10/26/11 (US VA) The Federal Home Loan Mortgage Corporation, CEO Charles E. Haldeman will retire in 2012
    goo.gl/CF4SF
50. 10/27/11 (USA NY) Keefe, Bruyette & Woods Inc (KBW) CEO John Duffy stepped aside. Duffy has prostate cancer.
    http://goo.gl/i1s3E
51. 10/27/11(US WA) Pacific International Bank CEO  Woosung "Edward" Park abruptly resigns
    goo.gl/nJgkI
52. 10/29/11 (CHINA) China Construction Bank Corp Chairman Guo Shuqing resigns
    http://goo.gl/fdd9v
53. 10/29/11 (CHINA) Agricultural Bank of China Ltd Chairman Xiang Junbo resigns
    http://goo.gl/yWX9R
54. 10/31/11 (EUROPEAN COMMUNITY) European Central Bank President Jean-Claude Trichet, resigns.
    http://goo.gl/ygG59
55. 11/01/11 (INDIA) Beed District Bank (Coop Bank More directors resign [research still being conducted on the names]
    http://goo.gl/HD8BQ
56. 11/02/11 (UK) Lloyds Banking Group chief executive, António Horta-Osório, is to take leave of absence on health grounds for six to eight weeks, the BBC has reported. (STILL OUT AS OF 2/24/12 - DEFACTO RESIGNATION)
    http://goo.gl/3L9gE
57. 11/03/11 (POLAND) Nordea Bank Poland, Wlodzimierz Kicinski resigned from as President of the Management Board of Nordea Bank Poland as of the 10th of November.
    http://goo.gl/oKUVZ
58. 11/04/11 (USA NY) MF Global, Jon Corzine, stepped down as chairman and CEO, hired criminal attorney to represent him.
    http://goo.gl/tUaVY
59. 11/04/11 (SWITZERLAND) Hyposwiss Private Bank Ltd., Director Hans Bodmerresigns from the Board
    goo.gl/5ydhv
60. 11/05/11 (IRELAND)Bank of Ireland announces board shake-up. Director of the BoardDenis Donovan resigns
    http://goo.gl/4JULU
61. 11/05/11 (IRELAND)Bank of Ireland Des Crowley resigns
    http://goo.gl/4JULU
62. 11/05/11 (IRELAND)Bank of Ireland non-executive director Paul Haran resigns
    http://goo.gl/4JULU
63. 11/05/11 (IRELAND)Bank of Ireland non-executive director Heather Ann McSharryresigns
    http://goo.gl/4JULU
64. 11/05/11 (IRELAND)Bank of Ireland non-executive director Dennis Holt resigns
    http://goo.gl/4JULU
65. 11/06/11 (GREECE) Marfin Investment Group. Greek Banking Tycoon Andreas Vgenopoulos surprise resignation from his own firm.
    http://goo.gl/LUxE2
66. 11/07/11 (SINGAPORE) Singapore Mercantile Exchange (SMX), CEO Framroze Pochara quits.
    http://goo.gl/eum87
67. 11/07/11 (US MO)  President   Maurrice Sandfort  retires from Bank of Missouri
    http://goo.gl/gpYj4
68. 11/07/11 (US MN)  Bremer Bank President/CEO Gary Bigler retires
    http://goo.gl/BFHV9
69. 11/08/11 (SINGAPORE) The Singapore Fund, Inc, Austin C. Dowling has resigned as Director of the Fund
    http://goo.gl/bCUhI
70. 11/09/11 (USA NY) HSBC Israeli desk, managing director Issac Doueck resigned.
    http://goo.gl/zuCJE
71. 11/09/11 (ISRAEL) HSBC Israeli desk, senior representative Simon Hakim resigned.
    http://goo.gl/zuCJE
72. 11/09/11 (SWITZERLAND) HSBC Israeli desk, head of Israel Dan Sagi resigned.
    http://goo.gl/zuCJE
73. 11/09/11 (USA NY) HSBC Israeli desk, ????? resigned.
    http://goo.gl/zuCJE
74. 11/09/11 (USA NY) HSBC Israeli desk, ????? resigned.
    http://goo.gl/zuCJE
75. 11/10/11 (EUROPEAN COMMUNITY) European Central Bank Lorenzo Bini Smaghiresigned from the European Central Bank’s Executive Board.
    http://goo.gl/Invjc
76. 11/11/11 (HONG KONG) Goldman Sachs' Asia Pacific co-head Yusuf Alireza is retiring from the investment bank after 19 years
    http://goo.gl/pejs3
77. 11/10/11 (INDIA) UBS The head of India operations at UBS AG , Manisha Girotra, has resigned
    http://goo.gl/3aTh2
78. 11/15/11 (USA NY) Icahn Enterprises LP, senior managing director of health-care investing, Alex Denner, has resigned.
    http://goo.gl/X1A4i
79. 11/15/11 (US NJ)  GAIN Capital CFO Henry Lyons  resigns
    http://goo.gl/3xC6L
80. 11/16/11 (EUROPEAN COMMUNITY) International Monetary Fund Europe, director Antonio Borges resigns for personal reasons.
    http://goo.gl/55CqZ
81. 11/17/11 (NETHERLANDS) Syntrus Achmea (pensions manager), CIO Marjolein Sol is resigning.
    http://goo.gl/Xqxsr
82. 11/17/11 (INDIA)  Nomura India's investment banking head  Nipun Goel  resigns
    goo.gl/RaK9X
83. 11/17/11 (INDIA)  Nomura India's Capital market division head Indraneil Borkakoty resigns
    goo.gl/RaK9X
84. 11/17/11 (INDIA)  Nomura India's executive director  Shubham Majumder   resigns
    goo.gl/RaK9X
85. 11/18/11 (US WA)  President and Chief Executive Officer of the Federal Home Loan Bank of Seattle  Steven R. Horton  retires
    goo.gl/cjJJD
86. 11/18/11 (US MD)  Legendary mutual fund manager  Bill Miller CIO of Legg Mason Capital Management and portfolio manager of LM Value Trust resigns
    goo.gl/YO4CJ
87. 11/18/11 (ICELAND) Horn Invest hf., Director of the Board of Guðrún Ragnarsdóttirresigned 
    goo.gl/k54sv
88. 11/18/11 (ICELAND) CEO of Landsbankinn  Steinthór Pálsson  resigned from the Board of Horn Invest hf.
    goo.gl/k54sv
89. 11/18/11 (SCOTLAND) Scottish Widows Investment Partnership Limited (SWIP) Private Equity Fund, wish to announce the resignation of John Brett from the Board of Directors of the Company, for business reasons.
    http://goo.gl/MLsp8
90. 11/19/11 (HK)CEO of Standard Chartered Bank (Hong Kong)Peter Wongsteps down
91. 11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui to Resign
    http://goo.gl/OiDiq
92. 11/22/11(US TX)  SWS Group Executive Vice President   Paul D. Vinton  retires
    http://goo.gl/0UG7W
93. 11/23/11 (GERMANY)  CEO of Clearstream Banking AG, Frankfurt  Andreas Wolf  resigns and leaves the boards of Clearstream International S.A., Luxembourg and Deutsche Börse Group
    goo.gl/FE2TB
94. 11/23/12 (USA SC & NC) Bank of the Carolinas, CFO Eric Rhodes resigns for personal reasons. Bank of the Carolinas was delisted from the NASDAQ on 3/9/12
    http://goo.gl/oytcD
95. 11/24/12 (IRELAND) AXA Rosenberg Management Ireland Limited, director Simon Vanstone resigns.
    http://goo.gl/x5Fl6
96. 11/28/11 (LATVIA) Latvia’s chief banking regulator, Irena Krumane, said she resigned today, a week after the state took over Latvijas Krajbanka AS (LKB1R), the Baltic News Service reported. The bank regulator suspended operations at Krajbanka, a subsidiary of Lithuania’s Bankas Snoras AB, on Nov. 21 and said around 100 million lati ($191.8 million) was missing. The Lithuanian government seized Snoras on Nov. 16 saying assets reported on the lender’s balance sheet were missing.
    http://goo.gl/mUvLF
97. 11/29/11 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorp. and Seneca National Bank
    http://goo.gl/XncOc
98. 11/29/11 (NORWAY) Carnegie ASA’s co-head of investment banking in Norway, Cato Holmsen, has resigned
    http://goo.gl/utIfy
99. 11/29/11 (FRANCE) AXA Real Estate Investment Managers, Global head of business development, strategy and research for Kiran Patel, has handed in his resignation. Patel was with the firm for 11 years.
    http://goo.gl/iGjB6
100. 11/29/11 (US MI)Chairman of Fentura's State BankForrest Shooksteps down
     http://goo.gl/0Kfg2
101. 11/30/11 (LITHUANIA) Lithuania Central Bank, Governor Vitas Vasiliauskas firedKazimieras Ramonas, head of the banking supervision department, after seizing Bankas Snoras AB, the country’s third-biggest deposit bank.
     http://goo.gl/EiqUC
102. 11/31/11 (AUSTRALIA) Commonwealth Bank CEO  Sir Ralph Norris  Australia's highest-paid banker, quits
     goo.gl/UBSmh
103. 12/01/11 (SRI LANKA) Sri Lanka's Securities and Exchange Commission (SEC) headIndrani Sugathadasa resigned.
     http://goo.gl/6qzny
104. 12/02/11 (PAKISTAN) NIB Bank, Singapore forced resignation of CEO Khawaja Iqbal Hassan, for mismanagement
     http://goo.gl/ojDcu
105. 12/03/11 (USA SC) South Carolina's $25 billion pension fund chief investor Robert Borden resigned. Borden's resignation comes as the SC Retirement System faces a $13 billion deficit, prompting state lawmakers to call for a massive overhaul of the system.
     http://goo.gl/ypK2G
106. 12/05/11 (BERMUDA) HSBC Bermuda Ltd, chairman of the board and director John Campbell resigns
     http://goo.gl/peFGD
107. 12/05/11 (BERMUDA) HSBC Bermuda Ltd, CEO  Philip Butterfield retires
     http://goo.gl/peFGD
108. 12/06/11 (US NV ) Western Liberty Bancorp CFO George Rosenbaum has resigned.
http://goo.gl/ozuwB
109. 12/06/11 (US FL)  SunTrust Banks Inc.'s Central Florida chairman Ray Sandhagen  retires
     http://goo.gl/vD6E7
110. 12/07/12 (ITALY) CFO of Greater Rome Bank and CEO of Greater Rome Bancshares E. Grey Winstead III resigns
     http://goo.gl/UyEly
111. 12/08/11 (USA) Fidelity Global Special Situations Fund, manager Jorma Korhonenresigned.
     http://goo.gl/a7Rhw
112. 12/08/11 (INDIA) Nomura's co-head of equity-linked solutions Neeraj Hora, resigns
     http://goo.gl/WYcjR
113. 12/09/11 (FRANCE) Kléline, Executive board director Abdallah Hitti resigned. Kléline is an electronic banking arm of the Group BNP PARIBAS .
     http://goo.gl/NpLqc
114. 12/12/11 (PAPUA NEW GUINEA) Bank South Pacific (BSP) chairman  Kostas Constantinou resigned as a director of the Board of Bank of South Pacific Limited and its subsidiaries.
     http://goo.gl/6NiyY
115. 12/12/11 (PHILIPPINES) Former Development Bank of the Philippines (DBP) presidentRey David  has resigned as board director of the Ongpin-led Philippine Bank of Communications (PBCom).
     http://goo.gl/chQYY
116. 12/12/11 (US IN)One of Indiana’s best-known bankers, Alvin “Kit” Stolen, is stepping down as president of Salin Bank.
     http://goo.gl/RY0Pk
117. 12/13/11 (US TX)Bank of America director D. Paul Jonesretires
     http://goo.gl/2EzMk
118. 12/14/11 (MAURITIUS) African Alliance Africa Pioneer Fund I (the "Fund"), Portfolio Manager Paul David Austin Clark resigned
     http://goo.gl/YiagF
119. 12/14/11 (USA NY) Goldman Sachs global head Milton R. Berlinski retiring at the end of the year
     http://goo.gl/Xj0l4
120. 12/14/11 (IRELAND) AfricanAlliance I's portfolio manager  Paul David Austin Clark  resigns
     goo.gl/xhMkw
121. 12/15/11 (UK) Coutts [private bank] Senior private banker James Fleming resigns
     http://goo.gl/ANN5B
122. 12/16/11 (US WI)President of Westbury BankJim Podewilsresigns
     http://goo.gl/F3Rn9
123. 12/19/11 (CANADA) Holloway Lodging Real Estate Investment Trust (a REIT) CEOGlenn Squires has resigned
     http://goo.gl/8rAKb
124. 12/19/11 (JAPAN) Citibank Japan CEO, Darren Buckley, resigns after Citibank was punished by regulators for the third time in seven years.
     http://goo.gl/ScT47
125. 12/19/11 (DENMARK) Danske Bank Peter Straarup, who will retire February 15
     http://goo.gl/06c2b
126. 12/19/11 (DENMARK) Danske Bank Eivind Kolding has resigned as Chairman of the Board of Directors and from the three board committees on which he served, He continues as member of Danske Bank’s Board of Directors until he assumes the position of Chairman of the Executive Board on 15 February 2012. On the same day, at the latest, Eivind Kolding will resign from the A.P. Moller-Maersk Group.
     http://goo.gl/06c2b
127. 12/20/11 (UK) Prudential (UK) Chairman Harvey McGrath has informed the Board of his intention to retire from the Board in 2012 once a successor has been found.
     http://goo.gl/IPOzf
128. 12/20/11 (USA MA) Century Bancorp, Inc., Director Roger S. Berkowitz resigned.
     http://goo.gl/bbdeT
129. 12/21/11 (USA MN) Voyager Bank, fired CEO trade accusations, New details have emerged in Voyager Bank's firing of its CEO in a court filing that accuses him of defrauding the bank of $15 million. The former CEO, Timothy Owens, has sued the bank for wrongful termination and accused the bank of defaming him.
     http://goo.gl/3Q1Vg
130. 12/22/11 (Sweden)  Nordea Bank's   Björn Savén  retires from the Board of Directors
     http://goo.gl/Yyvhs
131. 12/22/11 (Sweden)Nordea Bank's Director of the BoardBjörn Savénretire of his own accord
     http://goo.gl/dHBWp
132. 12/23/11 (USA VA)  Virginia National Bank (VNB) Chairman Mark Giles quits
     http://goo.gl/dFDpH
133. 12/23/11 (USA VA)  Virginia National Bank (VNB) Board Member Claire Gargalli quits
     http://goo.gl/kowkW
134. 12/23/11 (USA VA)  Virginia National Bank (VNB) Board Member Leslie Disharoon quits
     http://goo.gl/kstLp
135. 12/23/11 (USA VA)  Virginia National Bank (VNB) Board Member Neal Kassell quits
     http://goo.gl/NrrPZ
136. 12/23/11 (USA) Third Avenue Value Fund, co-manager Marty Whitman is leaving.
     http://goo.gl/iMe99
137. 12/23/11 (US NV)  Chief financial officer of Western Liberty Bancorp George Rosenbaum resigns
     goo.gl/R9vey
138. 12/25/11 (Russia)Allianz’s Russian Fund-Management Unit CEOOleg MazurovResigned
     http://goo.gl/ln3vP
139. 12/28/11 (US IN)  STAR Financial Bank's Osborne “Oz” Morgan retires as Anderson resional president
     http://goo.gl/TTwdY
140. 12/28/11 (US MD)  Chairman of First Mariner Bank Ed Hale retires
     http://goo.gl/MPeiT
141. 12/30/11 (Australia)Credit Suisse’s Head of Australian EquitiesJonathan GurnseyRetires
     http://goo.gl/Q7EZC
142. 12/30/11 (SRI LANKA) Sri Lanka Commercial Bank's director of the Board Mahendra Amarasuriya resigns
     http://goo.gl/m0jhN
143. 12/31/11 (US TX)   Texas Capital Bank Houston Region chairman Jonathan Clarkson  resigns
     http://goo.gl/BgYBI
144. 12/31/11 (PUERTO RICO)   Popular, Inc. (Banco Popular)  Michael Masin  retires from the Board of Directors
     http://goo.gl/DwKgG
145. 12/31/11 (US CA)  Wells Fargo Senior EVP  Mark Oman  retires
     goo.gl/T0OFC
146. 12/31/11 (US TX)Executive vice president of SWS Group Paul D. Vinton retires
     goo.gl/c9NGA
147. 12/31/11 (US OH) SVP of CSB Bancorp, Inc. and President and Chief Executive Officer of The Commercial and Savings Bank of Millersburg, Ohio Rick L. Ginther resigns
     http://goo.gl/18VlZ
148. 1/01/12 (US FL) OptimumBank  Larry Willis  left the board shortly after he was re-elected at the company shareholder meeting.
     goo.gl/GDcFX
149. 1/01/12 (SINGAPORE)  Keppel's group finance director  Teo Soon Hoe  resigns
     goo.gl/nfPWd
150. 1/01/12 (NIGERIA) United Bank for Africa Plc Victor Osadolor resigns
     http://goo.gl/b6AoA
151. 1/01/12 (ISRAEL) Israel's Bank Leumi CEO Galia Maor steps down after 16 years
     http://goo.gl/xwlFt
152. 1/03/12 (GREECE) Marfin Popular Bank Public Co Ltd, Mr Eleftherios Hiliadakis has resigned from the Board of Directors.
     http://goo.gl/MuFa0
153. 1/03/12 (USA VA) Suffolk Bancorp president and CEO J. Gordon Huszagh steps down
     http://goo.gl/joExI
154. 1/03/12 (USA WI) Michael Falbo, president and CEO of Southport Bank, has resigned just six months after accepting the position.
     http://goo.gl/DP1uK
155. 1/03/12 (UK) Arbuthnot Banking Group: Neil Kirton resigned from the Board
     http://goo.gl/SKE7j
156. 1/03/12 (UK) Arbuthnot Banking Group: Atholl Turrell left the Board.
     http://goo.gl/bzZtQ
157. 1/05/12 (UK) Saunderson House [Private Bank] CEO Nick Fletcher steps down
     http://goo.gl/zvo1L
158. 1/05/12 (USA NY) Blackstone/GSO Senior Floating Rate Term Fund and Blackstone/GSO Long-Short Credit Income Fund announced that John R. O’Neill has resigned.
     http://goo.gl/ZiWGL
159. 1/06/12 (US)  CEO of Security Federal Tim Simmons retires
     http://goo.gl/RYtTm
160. 1/06/12 (JAMAICA)   Founding partner   Mark Golding  resigns from Proven Investments Ltd.
     http://goo.gl/uOeY3
161. 1/06/12 (JAMAICA)   Chairman of Proven Wealth and Proven Investment's management committee Peter Bunting resigns http://goo.gl/uOeY3
162. 1/07/12 (UK) Arab Banking Corporation Intl. Bank (ABCIB) Manama, Bahrain: ABCIBannounced retirement of
     CEO Nofal Barbar from its London office.
     http://goo.gl/yF0Mm
163. 1/09/12 (SWITZERLAND) SNB Chairman Philipp Hildebrand resigns
     http://goo.gl/5qsUu
164. 1/09/12 (USA WASHINGTON DC) Whitehouse former banker and Chief of StaffWilliam M. Daley resigned
     http://goo.gl/34F0B
165. 1/09/12 (USA NY) Morgan Stanley Chief Legal Officer Frank Barron retires.
     http://goo.gl/XYCwJ
166. 1/09/12 (SWITZERLAND) Temenos Group AG, provider of core banking software announced the resignation of Mark Austen as a member of the Board of Directors.
     http://goo.gl/l6QzM
167. 1/10/12 (LIECHTENSTIEN) LLB CEO and chairman Josef Fehr  resigned .
     http://goo.gl/a4gTh
168. 1/10/12 (US DC)  Fannie Mae (The Federal National Mortgage Association) Chief Executive  Michael J. Williams  resigns
     goo.gl/8dver
169. 1/10/12 (USA IN) Security Bank of Springfield, president and CEO Steve Cour has announced plans to retire at the end of June.
     http://goo.gl/jFbYA
170. 1/09/12 (UK) Northern Rock finance director Ann Godbehere quits a year after the bank is nationalisedis standing down to pursue other interests, it was announced yesterday.
     http://goo.gl/ctt52
171. 1/11/12 (KAZAKHSTAN) BTA Bank, CEO Marat Zairov resigns for health reasons.
     http://goo.gl/yAHgr
172. 1/11/12 (SWITZERLAND) La Banque Privée Edmond de Rothschild, CEO Claude Messulam resigns, replaced by Christophe de Backer, Claude Messulam to become a director of the bank holding company.
     http://goo.gl/vWr3i
173. 1/11/12 (UK)Most senior foreign exec at Japan’s Nomura Tarun Jotwaniquits
     http://goo.gl/SYuw2
174. 1/12/12 (USA) Goldman Sachs, Co-Head Securities Trading Edward K. Eisler retires
     http://goo.gl/i2TVk
175. 1/12/12 (USA) Goldman Sachs, Co-Head Securities Trading David B. Heller retires
     http://goo.gl/i2TVk
176. 1/13/12 (IRELAND) National Asset Management Agency, head of lending Graham Emmett is resigning
     http://goo.gl/GN3h3
177. 1/13/12 (USA DC) World Bank, Vice President for Africa, Oby Ezekwesili will retire from her position at the World Bank in May.
     http://goo.gl/fiUsU
178. 1/13/12 (ITALY) Banca Monte dei Paschi di Siena, CEO Antonio Vigniat one of Italy’s biggest and oldest banking groups ousted in top management overhaul
     http://goo.gl/bjUxZ
179. 1/13/12 (Italy) Banca Monte dei Paschi di Siena, president Giuseppe Mussariat asked to leave
     http://goo.gl/bjUxZ
180. 1/16/12 (UAE - DUBAI)  Ajman Bank CEO  Mubashar Khokhar  resigns
     goo.gl/FJuYd
181. 1/17/12 (CANADA) Cumberland Private Wealth Management CIO John Wilson quit to join another money manager.
     http://goo.gl/3JuNJ
182. 1/17/12 (HONG KONG) Oversea-Chinese Banking Corporation Limited (OCBC Bank) CEODavid Conner retires.
     http://goo.gl/83Z1i
183. 1/17/12 (UK) Morgan Stanley Intl, chairman Walid Chammah is retiring. An inside source speculated that it could mean that the company had suffered exposure to European sovereign debt woes under Chammah's purview.
     http://goo.gl/e7vS7
184. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Ali Yousef Al Awwadhy resigned.
     http://goo.gl/0PoIM
185. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Miss Anoud Fadhel Al Hathran resigned.
     http://goo.gl/0PoIM
186. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Tarek Farid Al Othman resigned.
     http://goo.gl/0PoIM
187. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Salem Ali Hassan Al Ali resigned.
     http://goo.gl/0PoIM
188. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Majed Ali Oweid Awadh resigned.
     http://goo.gl/0PoIM
189. 1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Badr Suliman Al Ahmed resigned.
     http://goo.gl/0PoIM
190. 1/18/12 (USA) Goldman Sachs co-heads of Goldman's securities business David Hellerresigns.
     http://goo.gl/TMHvx
191. 1/18/12 (USA) Goldman Sachs co-heads of Goldman's securities business Edward Eislerresigns.
     http://goo.gl/TMHvx
192. 1/18/12 (USA) Goldman Sachs co-head of its investment management division Ed Forstresigns.
     http://goo.gl/TMHvx
193. 1/18/12 (US NJ) Lakeland Bancorp and Lakeland Bank,  Director of the Board Paul G. Viall, Jr.  retires.
     http://goo.gl/HQ9bd
194. 1/18/12 (SINGAPORE) Standard Chartered Bank’s global head of fixed income, Remy Klammersto resign
     http://goo.gl/UrOpI
195. 1/19/12 (UK) Santander, senior director Americas division Francisco Luzón is retiring with a pension pot of about €56m, a package whose generous size is expected to reignite controversy over bankers’ remuneration.
     http://goo.gl/XMRvP
196. 1/19/12 (EGYPT) Beltone Financial Holding (BTFH) Alaa' Sabaa resigned from board of directors.
     http://goo.gl/5Eze1
197. 1/19/12 (EGYPT) Beltone Financial Holding (BTFH) Wael EL Mahgary resigned from board of directors.
     http://goo.gl/5Eze1
198. 1/19/12 (US OH)  President and CEO of the Federal Home Loan Bank of Cincinnati   David Hehman  retires
     http://goo.gl/iW0Bk
199. 1/20/12 (JAPAN) Normura's head of wholesale banking Jasjit Bhattai quits
     http://goo.gl/6FuWe
200. 1/20/12 (SOUTH AFRICA) First National Bank's sharia banking division is in a state of flux after it was hit by a corporate governance scandal in which its chief executive, Ebi Patel, was put on "special leave" for almost a month while an internal probe was conducted. Patel has been reinstated, but is facing disciplinary action.  Islamic finance forbids the payment and receipt of interest (riba), and investment in some industries. Sharia law states that interest-bearing transactions result in economic ills such as unemployment and high inflation. Trading in derivatives and speculative investment are also forbidden. Sharia law requires all transactions to be backed by tangible assets. http://goo.gl/NmGJP
201. 1/20/12 (USA) TIAA-CREF executive vice president and president of Asset Management,Scott C. Evans resigned
     http://goo.gl/f6qLs
202. 1/20/12 (SOUTH AFRICA) South African deputy economic development ministerEnoch Godongwana quit his post this week in the face of growing outrage in government circles about his involvement in a company that allegedly defrauded clothing factory workers of R100-million of their pension fund money.
     http://goo.gl/ZADvn
203. 1/20/12 (US GA)  Chairman of the Board   Morris Downing  retires from Colony Bankcorp, Inc.
     http://goo.gl/3MK7e
204. 1/21/12 (UK) Butterfield Private Bank head Danny Dixon Steps Down
     http://goo.gl/sdY1p
205. 1/21/12 (SINGAPORE) ANZ Asia's private banking head Nina Aguas resigns as managing director of Asia-Pacific private banking.
     http://goo.gl/hlHvG
206. 1/21/12 (USA CA) Nara Bancorp (Now called BBCN) President and CEO Min Kim Resigns
     http://goo.gl/rcfJ3
207. 1/21/12 (US TX) City of Weslaco finance director Bret Mann; resigns
208. 1/22/12 (KENYA) National Bank of Kenya's (NBK) managing director, Mr Reuben Marambii, will resign before year end.
     http://goo.gl/c2n7r
209. 1/23/12 (SOUTH AFRICA) The South Africa Private Equity and Venture Capital Association (SAVCA) CEO JP Fourie resigned
     http://goo.gl/dmxFI
210. 1/23/12 (US OH)  Ohio Legacy Corp. director of the Board Michael S. Steiner resigns
     http://goo.gl/9xTcc
211. 1/23/12 (US OH)  Ohio Legacy Corp. director of the Board Heather Davis resigns
     http://goo.gl/9xTcc
212. 1/24/12 (IRELAND) Deutsche International Corporate Services Limited fund, Paul Shevlin resigned as a director
     http://goo.gl/OjZFF
213. 1/24/12 (US KS) Capitol Federal Financial, Inc., Director of the Board   B. B. Andersen  retires
     http://goo.gl/q50yg
214. 1/24/12 (AUstralia)  National Australia Bank currency strategist John Kyriakopoulos Resigns
     http://goo.gl/eoqeF
215. 1/24/12 (SWITZERLAND) Global Fund to Fight AIDS, Tuberculosis and Malaria, Dr. Michel Kazatchkine, a French clinical immunologist and head of the $22.6 billion fund has abruptly resigned, since revelations about corruption and misspending severely rattled some of its biggest donors. The resignation came on the eve of the World Economic Forum meeting in Davos, which played a role in its creation a decade ago. A dinner for the public-private fund is planned Thursday with U.N. Secretary-General Ban Ki-moon and major backers Bill Gates and the Bill & Melinda Gates Foundation. The shakeup resulted from an internal review to address problems highlighted in Associated Press stories last year about the loss of tens of millions of dollars in grant money because of mismanagement and alleged fraud. Its biggest private donor is the Bill & Melinda Gates Foundation, which has pledged $1.15 billion and provided it with $650 million so far.
     http://goo.gl/bqXs8
216. 1/25/12 (Papua New Guinea) Bank South Pacific (BSP) chairman  Kostas Constantinou resigned as a director of the Board of Bank of South Pacific Limited and its subsidiaries.
     http://goo.gl/vh3az
217. 1/25/12 (UK) SOFIA PROPERTY FUND LIMITED, Gerry Williams has resigned as a Director, following his resignation from Ardel Holdings Limited ("Ardel") where he was CEO. Ardel is the holding company of Ardel Fund Services Limited which provides administration services in Guernsey to the Company.
     http://goo.gl/kDfVv
218. 1/25/12 (Kazakhstan)  Independent Director of Kazakhstan's BTA Bank   Konstantin Korishchenko resigns
     http://goo.gl/lUl39
219. 1/25/12 (USA NY) Fortress Private Equity, CEO Daniel Madrid (aka Daniel Mudd)has resigned. Madrid was forced to leave in order to deal with SEC allegations. Prior to joining Fortress, Madrid served as Fannie Mae CEO and was forced to resign. SEC sued Madrid and former Freddie Mac CEO Richard West Long (aka Richard Syron) for hiding hundreds of billions of dollars in subprime loans. Madrid denied the SEC allegations saying the US govt. and investors were informed of Fannie Mae’s loan data.
     http://goo.gl/u9IdB and http://goo.gl/v94ik and http://goo.gl/tXQwP
220. 1/26/12 (US NJ)PHH Corp.'s director of the Board James Brinkley retires
     http://goo.gl/BhN3I
221. 1/27/12 (SINGAPORE) AIMS AMP CAP INDUSTRIAL REIT, Mr Graham Sugdenresigned.
     http://goo.gl/VZYHY
222. 1/27/12 (SOUTH AFRICA) ABSA Group COO Alfie Naidoo would be leaving to pursue personal interests
     http://goo.gl/cVWnA
223. 1/27/12 (SOUTH AFRICA) ABSA Group chief marketing and communication officerHappy Ntshingila, will be taking up an "exciting position" outside banking
     http://goo.gl/cVWnA
224. 1/27/12 (SOUTH AFRICA) ABSA Group CEO Daphne Motsepe retires at the end of April after a 10-year career at the bank.
     http://goo.gl/cVWnA
225. 1/28/12 (US PA)S&T Bank'sBob Routresigns as Chief Financial Officer
     http://goo.gl/l3Nw3
226. 1/29/12 (PORTUGAL) Banco Santander Totta SA executive chairman Nuno Manuel da Silva Amado has resigned
     http://goo.gl/Glvdn
227. 1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Gov Alan Bollard to Step Down
     http://goo.gl/BwUgv
228. 1/29/12 (UAE) NBD, Emirates 's investment banking division CEO Suresh Kumar is leaving the bank
     http://goo.gl/S1x0F
229. 1/30/12 (UK) British Private Equity and Venture Capital Association (BVCA) COOAndrew Graham steps down
     http://goo.gl/4SDW8
230. 1/30/12 (Malaysia)  Dr Choong Tuck Yew has retired as director and chairman of OSK Investment Bank Bhd
     http://goo.gl/CYiwL
231. 1/31/12 (SCOTLAND) Royal Bank of Scotland former CEO Fred Goodwin Stripped of Knighthood
http://goo.gl/CoLVS
232. 1/31/12 (Italy)  Director and member of the Remuneration Committee   Carlo Pesenti resigns from Unicredit
     http://goo.gl/HCXNQ
233. 1/31/12 (IRELAND) The Director of Corporate Enforcement Paul Appleby has announced his retirement at the end of next month. Mr. Appleby has held the position for the past 10 years since the office was first established in 2001. He has led the ODCE investigation into Anglo Irish Bank which is almost complete.
     http://goo.gl/vpq99 and 
     The Director of Corporate Enforcement "pulls a stroke". The Head of the Garda Investigation team looking into 'events' in Irish banking quits and accepts a job with a bank.
     http://goo.gl/R0nis
234. 2/01/12 (US CT)  President and CEO of the First National Bank of Suffield  George W. Hermann  resigns
     goo.gl/JLlHz
235. 2/01/12 (SYRIA) Arab Bank Syria Board member Basma Talal Zein resigns.
     http://goo.gl/WXxzw
236. 2/01/12 (SOUTH AFRICA) ABSA [Barclay's Bank] deputy CEO Louis von Zeuner resigns
     http://goo.gl/IP8nH
237. 2/01/12 (UK) Lloyds Bankging Group head of wholesale Truett Tate quits
     http://goo.gl/OqRVo
238. 2/01/12 (UK) Llyods Banking Group Tim Tookey leaving end of February
     http://goo.gl/vjO5M
239. 2/01/12 (Japan)Credit Suisse’s Paul Kuosteps Down as Japan CEO http://goo.gl/1F2Xm
240. 2/02/12 (VENEZUELA) Banking Crisis Arne Chacon arrested for Banking Corruption
     http://goo.gl/bb5sh
241. 2/02/12 (USA) American Perspective Bank, President and CEO Thomas J. Beeneresigned.
     http://goo.gl/K66eb
242. 2/02/12 (USA) NIR Group hedge funds, Corey Ribotsky was forced out of NIR by Pricewaterhouse-Coopers, the court-appointed liquidator, following allegations of fraud by the Securities and Exchange Commission. In September, the SEC sued Ribotsky and NIR for taking more than $1 million of investors’ money to buy cars and watches.
     http://goo.gl/w068O
243. 2/02/12 (IRELAND) AXA Rosenberg Management Ireland Limited, director Nathalie Savey resigned.
     http://goo.gl/cXB8u
244. 2/02/12 (Canada)  VP of account management and sales in State Street’s securities finance team in Canada Warren Maynard resigns
     http://goo.gl/IZ09h
245. 2/03/12 (UK) VinaCapital Vietnam Opportunity Fund Ltd, Non-Executive DirectorHorst Geicke has resigned.
     http://goo.gl/r955T
246. 2/03/12 (UK) UBS London trader, Kweku M. Adoboli, was arrested and charged with fraud and false accounting, forcing UBS to announce a $2.3 billion trading loss.
     http://goo.gl/ClTaq
247. 2/05/12 (USA - NY) Morgan's investment banking chairman Joseph Perella quit
     http://goo.gl/pG2jF
248. 2/05/12 (USA - NY) Morgan Stanley investment banking Tarek Abdel-Meguid quit
     http://goo.gl/bRv9K
249. 2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits:
     http://goo.gl/OhCEb
250. 2/06/12 (USA NY) TD Ameritrade, head of retail distribution John Bunch resigns. Bunch is leaving to take the top job at a small investment advisory firmin Kansas City.
     http://goo.gl/kgS7M
251. 2/06/12 (CANADA)  Director of Sprott Inc.  Mark McCain  resigns
     goo.gl/ZUVp8
252. 2/07/12 (USA) Bank Of America's Mortgage Business Chief Barbara Desoer Retires
     http://goo.gl/i7AUY
253. 2/07/12 (INDIA) Kotak Mahindra Bank Falguni Nayar quits
     http://goo.gl/fP03J
254. 2/07/12 (IRAN) Iran denies central bank resignation rumor (don't believe until its denied?)
     http://goo.gl/PiQSy
255. 2/07/12 (UK) Agneash Soft Commodities PLC, an investment company in mineral, announced resignation of its Chief Investment Officer Tom Winnifrith .
     http://goo.gl/LDgl9
256. 2/07/12 (US NY) BlackRock, General counsel Robert P. Connolly  leaves
     goo.gl/l7c9v
257. 2/08/12 (SOUTH AFRICA) Standard Bank Group Ltd - Resignation of Group SecretaryLoren Wulfsohn
     http://goo.gl/K1pfn
258. 2/08/12 (USA OH) Cleveland International Fund (CIF) private equity fund, A. Eddy Zailaunched and led the Cleveland International Fund, an investment outfit that pairs wealthy foreign investors hoping for U.S. residency with job-creating projects. Zai resigned from his job this week, before being indicted in a bank-fraud scheme that, according to investigators, contributed to the collapse of a credit union in Eastlake.
     http://goo.gl/tgamf
259. 2/08/12 (UAE) Emirates NBD makes top-level changes Bank's deputy chief executive officer Abdul Wahed Al Fahim has resigned.
     http://goo.gl/JUdNd
260. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka "Vatican Bank"), 62 year oldMonsignor Emilio Messina, the Archdiocese of Camerino-San Severino Marche investigated on money laundering by Italian officials.
     http://goo.gl/uztVU
261. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka "Vatican Bank"), 49 year oldFather Don Salvatore Palumbo of the socially popular parish of San Gaetano
     http://goo.gl/uztVU
262. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka "Vatican Bank"), 37 year oldFather Horace Bonaccorsi of Catania, already tried and acquitted in Sicily for money laundering offenses recycling money through accounts at IOR
     http://goo.gl/uztVU
263. 2/09/12 (VATICAN) Institute for Religious Works (IOR aka "Vatican Bank"), 85 year oldFather Don Evaldo Biasini of Rome. Father Don Evaldo Biasini is known as the "Don of Cash".
     http://goo.gl/uztVU
264. 2/09/12 (IRELAND) SPL Investment Funds's director John Davey discharged
     goo.gl/h814P
265. 2/09/12 (UKRAINE) National Bank of Ukraine deputy governor Volodymyr Krotiuk quits
     http://goo.gl/8BuXy
266. 2/09/12 (UK) JP Morgan Chinese Investment Trust PLC, non-executive DirectorMadam Yujiang Zhao resigned
     http://goo.gl/CPO23
267. 2/09/12 (UK) Alliance Trust Savings (ATS), Robert Burgess is stepping down as CEO.
     http://goo.gl/ohHG3
268. 2/10/12 (NIGERIA)  Peace Capital Market Limited Managing Director Sabinus Iroanya Chukwu  resigns
     goo.gl/MlI5N
269. 2/10/12 (KOREA) Korea Exchange Bank chief Larry Klane steps down
     http://goo.gl/DBKdc
270. 2/10/12 (INDIA) Tamilnad Mercantile Bank CEO A K Jagannathan resigns
     http://goo.gl/wMl5g
271. 2/13/12 (KUWAIT) Kuwait Central Bank CEO Sheikh Salem Abdulaziz Al Sabbah resigns
     http://goo.gl/GFvIy
272. 2/13/12 (UK) Goldman Sachs confirmed on Monday that George N. Mattson, one of the firm’s top deal makers in the industrial sector, will retire. He was a senior relationship banker with a client list that included General Motors, General Electric and Caterpillar.
     http://goo.gl/vgnq2
273. 2/13/12 (HONDURAS) Honduras finance minister William Chong Wong, resigned on Monday after the International Monetary Fund (IMF) said the country did not reach its deficit and monetary targets for 2011.
     http://goo.gl/drgHY
274. 2/13/12 (US PA) AmerisourceBergen CFO Michael DiCandilo Abruptly Leaves.
     http://goo.gl/ElyIk
275. 2/13/12 (US NH)   New Hampshire Thrift CEO   Stephen Ensign retires
     http://goo.gl/aZYAs
276. 2/13/12 (US NC)SVP and regional executive for Bank of North CarolinaWilliam H. 'Bill' McMurray IIIretires
     http://goo.gl/jm5lf
277. 2/14/12 (NICARAQUA) Nicaraqua Central Bank President Antenor Rosales resigns
     http://goo.gl/iQ0n8
278. 2/14/12 (UK) Social finance pioneer Malcolm Hayday quits Charity Bank
     http://goo.gl/uHp6C
279. 2/14/12 (PAKISTAN) National Bank of Pakistan (NBP) chairman Syed Ali Razaresigned
     http://goo.gl/scexo
280. 2/14/12 (USA NY) Goldman Sachs Jeffrey Moslow resigns, an investment banker to companies such as Tyco International Ltd, Nstar, the Boston-based utility, and defense contractor Dyncorp International Inc.
     http://goo.gl/7h4O7
281. 2/14/12 (US MI)  Fentura Financial Inc.'s  Douglas Kelley resigns as CFO
     http://goo.gl/735Pj
282. 2/14/12 (US NC) North Carolina Bank Commissioner  Joseph A. Smith, Jr.Resigns
     http://goo.gl/rUoof
283. 2/15/12 (SOUTH AFRICA) HPA - Hospitality Property Fund Limited, chairman Frank Berkeley resigned.
     http://goo.gl/wJmpR
284. 2/15/12 (USA) Boston Properties (REIT), Executive VP and COO E. Mitchell Norvilleto resigned
     http://goo.gl/AW7X7
285. 2/15/12 (WORLD) World Bank CEO Zoellick resigns
     http://goo.gl/dHDSm
     Did the White House tell the World Bank president that he's out?
     http://goo.gl/wUOgb
286. 2/15/12 (CHINA) Morgan non-executive chairman Stanley Stephen Roach will be retiring.
     http://goo.gl/MQeGW
287. 2/15/12 (SLOVENIA) Nova Kreditna Banka Maribor CEO Andrej Plos resigns
     http://goo.gl/SNsVI
288. 2/15/12 (SLOVENIA) Nova Ljubljanska Banka d.d. CEO Bozo Jasovic resigns
     http://goo.gl/TyYiJ
289. 2/16/12(CHINA)  Goldman Sachs Vice Chairman in Asia Pacific excluding Japan   Mark Machin  steps down
     goo.gl/mx4Hw
290. 2/16/12 (USA IL) Deerfield Capital Management LLC, CEO Daniel Hattori and CEO of CIFC Corp resigned.
     http://goo.gl/LLNnD
291. 2/16/12 (USA IL) Deerfield Capital Management LLC, COO Luke Knecht and CEO of CIFC Corp, resigned both positions.
     http://goo.gl/LLNnD
292. 2/16/12 (UK) The Financial Services Authority Margaret Cole is to step down
     http://goo.gl/yT6rS
293. 2/16/12 (GHANA) Databank Group Executive Chair Ken Ofori-Atta steps down
     http://goo.gl/c7PtU
294. 2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Geoffrey Calvert Quits
     http://goo.gl/CtmOU
295. 2/16/12 (AUSTRALIA) ANZ Bank Australia CFO Peter Marriott resigns
     http://goo.gl/I7Alo
296. 2/16/12 (UK) Royal Bank of Scotland Sr Equities Trader Jason Edinburgh Arrested
     http://goo.gl/WczHh
297. 2/16/12 (UK) Royal Bank of Scotland director equities bus. Vincent Walsh director Arrested
     http://goo.gl/I7Alo
298. 2/16/12 (UK) Marex Spectron senior trader Michael Elsom Arrested
     http://goo.gl/I7Alo
299. 2/16/12 (AUSTRALIA) Royal Bank of Scotland Austraila CEO Stephen Williams resigns
     http://goo.gl/4r16D
300. 2/16/12 (Bermuda)  Global Specialised Opportunities 1 Limited Fund's   Oliver Betz-Fletcher resigns from the Board of Directors
     http://goo.gl/ttD62
301. 2/17/12 (SOUTH AFRICA) Coronation Fund Managers CEO Hugo Nelson is stepping down at age of 40.
     http://goo.gl/I3NY8
302. 2/17/12 (PAKISTAN) PICIC Asset Management Company Limited CFO Ahmed Razaresigns
     http://goo.gl/K8A2I
303. 2/17/12 (USA NY) Goldman Sachs CEO Lloyd Blankfein out as by summer
     http://goo.gl/UjpzD
304. 2/17/12 (SWITZERLAND) SNB Council President Hansueli Raggenbass resigns
     http://goo.gl/1n1Nr
305. 2/17/12 (UK) Insight Investment, asset manager Mike Pinggera has resigned..
     http://goo.gl/uDplK
306. 2/17/12 (USA NY) Harbinger Group Inc. CFO Francis T. McCarron has advised the Company of his resignation effective April 30
     http://goo.gl/6il4F
307. 2/17/12 (BULGARIA) Bulgaria National Health Insurance Fund (NHIF), The managing director Neli Nesheva, resigned after a two-day row about end-of-year bonuses paid by NHIF to its employees.
     http://goo.gl/7UQxv
308. 2/17/12 (US OH)  Chairman and CEO   Doyle Lee of First Financial Bank retires
     http://goo.gl/uck4h
309. 2/18/12 (PAKISTAN) The Bank of Azad Jammu and Kashmir executive Zulfiqar Abbasi resigns 
     http://goo.gl/G0woP
310. 2/18/12 (Norway)  Terra to Close Equity Trading Desk's CEO   Stein Ole Larsen resigns After FSA Report
     http://goo.gl/gwNia
311. 2/19/12 (MALTA) Bank of Valletta, director of the Multi-Manager Fund John C. Ripard, has resigned being reprimanded by the MFSA for disposing of his holdings in the Fund whilst in possession of sensitive information which was not available to the public.
     http://goo.gl/1li3r
312. 2/20/12 (IRELAND) SPL Investment Funds's director  Mike Kirby  resigns
     goo.gl/nDW2T
313. 2/20/12 (RUSSIA) Head of Russian Bank Regulator Gennady Melikyan Steps Down
     http://goo.gl/Unuez
314. 2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns
     http://goo.gl/F5twL
315. 2/20/12 (ISRAEL) Bank Leumi le-Israel Ltd: Zvi Itskovitch resigns
     http://goo.gl/aA0RW
316. 2/20/12 (USA WA) First Financial Northwest Director Spencer Schneider Quits
     http://goo.gl/6Dj0i
317. 2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) Gen Mgr Benigno Velez, resigns
     http://goo.gl/DuMrm
318. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Matlub resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
319. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Selima Ahmad resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
320. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Musabbir Ahmad resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
321. 2/21/12 (BANGLADESH) City General Insurance Co. Ltd director Geasuddin Ahmad resigns
     conflict of interest with director seat on unknown bank
     http://goo.gl/aEmwB
322. 2/21/12 (BANGLADESH) Social Islami Bank Limited director Taslima Akter resigns
     conflict of interest with director seat on Eastland Insurance Company Limited
     http://goo.gl/aEmwB
323. 2/21/12 (JAPAN) CITIBANK JAPAN: Bakhshi is taking over duties from Brian Mccappin, who the bank said in December would resign after the unit was banned for two weeks from trading tied to the London and Tokyo interbank offered rates.
     http://goo.gl/Z1rnw
324. 2/21/12 (Bangladesh)  Social Islami Bank Limited's  Taslima Akter   resigned from the board in compliance with the Insurance Act 2010.
     http://goo.gl/yHdB9
325. 2/22/12 (US CA)  PIMCO, Chairman of the board Vernon Wright  resigned from the world's biggest bond fund.
     goo.gl/UeQWm
326. 2/22/12 (US CA)  PIMCO board member Gregg Silver resigned from the world's biggest bond fund.
     goo.gl/UeQWm
327. 2/22/12 (HONG KONG) DZ BANK project finance head Tim Meaney quits
     http://goo.gl/ppKno
328. 2/22/12 (SINGAPORE) Macquarie International Infrastructure Fund's CEO John Stuart to resign
     http://goo.gl/ji7Q4
329. 2/22/12 (USA NY) Goldman Sachs Hedge Fund Group Chief Howard Wietschner to Retire
     http://goo.gl/x4Zsr
330. 2/22/12 (UK) UBS AG’s (UBSN) Doug McCutcheon, head of Healthcare Banking in Europe, Middle East, Africa and Asia-Pacific region, has left Switzerland’s biggest bank after 25 years at the firm.
     http://goo.gl/Dnxqh
331. 2/23/12 (UK) Goldman Sachs Nordic M&A banker Luca Ferrari has decided to retire from the firm, clients included the largest telecommunications operator in Spain the Spanish telecommunications.
     http://goo.gl/qmCh3
332. 2/23/12 (SOUTH AFRICA) Richard Gush resigns from Standard Bank
     http://goo.gl/DTL5S
333. 2/23/12 (SCOTLAND) Royal Bank of Scotland Group director John McFarlane resigns.
334. 2/23/12 (Canada)  Bank of Montreal investment banking head   Bill Butt to retire
     http://goo.gl/a4CIs
http://goo.gl/KoEUI
335. 2/24/12 (GUERNSEY) Spearpoint Limited (SPL) Investment Funds, director Mike Kirby resigns for business reasons.
     http://goo.gl/9stPB
336. 2/24/12 (INDIA) Breaking: ICICI Bank GC Pramod Rao resigns
     http://goo.gl/5eUqU
337. 2/24/12 (HONG KONG) Citigroup Pvt Bank Global Real Estate Kwang Meng Quek Resigns
     http://goo.gl/JIC9A
338. 2/24/12 (NEW ZEALAND) FSF Executive Director Kirk Hope resigns
     http://goo.gl/6UJau
339. 2/24/12 (USA NY) Evercore Partners Head Eduardo Mestre steps down
     http://goo.gl/n5RLY
340. 2/25/12 (AUSTRALIA AND NZ) Goldman Sachs Chairman Stephen Fitzgerald quits
     http://goo.gl/nMTLW
341. 2/25/12 (DENMARK) European Investment Bank (EIB), Mr Sigmund Lubanski, of the Kingdom of Denmark tendered his resignation.
     http://goo.gl/y4XXF
342. 2/25/2012 (LUXEMBOURG)  European Investment Bank, director of the Board  Sigmund Lubanski  resigns
     goo.gl/hA9Vu
343. 2/27/12 (GERMANY) Deutsche Bank Americas chief  Seth Waugh steps down
     http://goo.gl/8lxSw
344. 2/27/12 (BAHRAIN) Khaleeji Commercial Bank CEO Ebrahim Ebrahim quits
     http://goo.gl/yKjzL
345. 2/27/12 (BAHRAIN) - Mumtalakat Holding [Sovereign Wealth Fund] CEO Al Zain resigns
     http://goo.gl/hhHSm
346. 2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Michel Péretié Steps Down
     http://goo.gl/IJ5Lw
347. 2/27/12 (MALAYSIA) Elaf Bank CEO Dr El Jaroudi resigns
     http://goo.gl/eVCS5
348. 2/27/12 (GERMANY) Equiduct chairman Artur Fischer steps down
     http://goo.gl/Q0dWR
349. 2/27/12 (IRAN) Bank Melli CEO Mahmoud Reza Khaavari Resigns - Flees to Canada!
     http://goo.gl/DDEUk
350. 2/27/12 (IRAN) Bank Saderat CEO Mohammad Jahromi resigns
     http://goo.gl/ZD0mc
351. 2/27/12 (UK) Lloyds Banking Group Glen Moreno steps down
     http://goo.gl/dsXcE
352. 2/27/12 (SINGAPORE) Standard Chartered Bank, global head of repo and collateralised financing Tanweer Khan resigned.
     http://goo.gl/hgbuc
353. 2/28/12 (HONG KONG) Hang Seng Bank CEO Margaret Leung Ko May-yee quits
     http://goo.gl/Uo800
354. 2/28/12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits
     http://goo.gl/26MYq
355. 2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits, cites health reasons
     http://goo.gl/NDJze
356. 2/28/12 (HONG KONG) Bank of America's Asia-Pac. mrkts Brian Canniffe quits
     http://goo.gl/cRkCP
357. 2/28/12 (BELGIUM) KBC's CEO Jan Vanhevel is to retire after a career spanning 41 years.
     http://goo.gl/1rCWd
358. 2/28/12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne Brown quits
     http://goo.gl/HIYXv
359. 2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft
     http://goo.gl/ggPvq
360. 2/28/12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne retires
     http://goo.gl/YxvNA
361. 2/28/12 (SOUTH AFRICA) REDEFINE INCOME FUND director Gerald Leissner resigns
     http://goo.gl/F0UgN
362. 2/28/12 (ITALY) UNICREDIT: Chairman Dieter Rampl not available for a new mandate
     http://goo.gl/7aLRU
363. 2/28/12 (UK) Bank of England Sir David Lees re-appointed Chair of Bank of England and gives notice of resignation at end of 2013
     http://goo.gl/LkJhV
364. 2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc Director Keith Walshresigns
     http://goo.gl/n6uoM
365. 2/28/12 (US IN)  Regional chairman of PNC bank in Indy to retire  Steve Stitle 
     http://goo.gl/Zo00r
366. 2/29/12 (US KY)PNC Bank regional presidentHarry Richart IIIretires
     http://goo.gl/Hjhro
367. 2/29/12 (AUSTRALIA) Perpetual portfolio manager Matt Williams steps down
     http://goo.gl/Jh9jd
368. 2/29/12 (UK) Honister Capital CEO Richard Pearson steps down
     http://goo.gl/014or
369. 2/29/12 (GUYANA) National Investment and Commercial Investments Ltd. (NICIL), Executive Director Winston Brassington resigns, “We feel that (Winston) Brassington knows everything…A to Z about all the transactions,” said Chairman of the Alliance for Change (AFC), Khemraj Ramjattan, as he sounded a warning that controversial figure could be subpoenaed to appear before the Parliamentary Economic Sector Committee.
     http://goo.gl/L7I35
370. 2/29/12 (US AR)  Human resources and operations manage  Wanda Tormey  to retire from Decatur State Bank
     http://goo.gl/iW6XN
371. 2/29/12 (London)   Bank of Tokyo's EMEA Loan Syndicate Head   Francesco Carobbi Said to Quit
     http://goo.gl/tKBQk
372. 3/01/12 (MALAYSIA) RHB Bank Bhd deputy managing director Renzo Viegas quits
     http://goo.gl/wACrI
373. 3/01/12 (ITALY) Italian Banking Association Chairman Giuseppe Mussari talks to reporters in Rome after he and seven other executives offered to resign in protest over new banking-fee rules included in the government's legislation on boosting competition.
     http://goo.gl/3llyT
374. 3/01/12 (USA FL) Florida Venture Forum [Venture Capital] Exec Dir Robin Lesterquits
     http://goo.gl/nA8g9
375. 3/01/12 (USA NY) PineBridge Investments said Win Neuger has resigned as chief executive. Neuger helped build AIG's third party asset management business, PineBridge still manages AIG assets
     http://goo.gl/SI7kT
376. 3/01/12 (SINGAPORE) UBS Singapore - James Tulley is leaving Switzerland’s largest bank, it is not clear where he is going.
     http://goo.gl/BGugF
377. 3/01/12 (USA NH) Piscataqua Savings Bank CEO Jay Gibson retires
     http://goo.gl/uEqDV
378. 3/01/12 (ICELAND) Iceland’s Financial Supervisory Authority (FSA) fired its directorGunnar Andersen
     http://goo.gl/VG9q5
379. 3/01/12 (USA OR) Oregon Public Employees Retirement Fund (OPERF) senior RE officerBrad Child will retire
     http://goo.gl/vcERz
380. 3/02/12 (USA NC) North Carolina Retirement Systems, Chief investment officer Shawn Wischmeier  resigned.
     http://goo.gl/zx2tU
381. 3/02/12 (CHINA) China Construction Bank Corp, assistant general manager and head of corporate banking Mickey Mehta quits
     http://goo.gl/B9dR0
382. 3/02/12 (USA NY) Deutsche Bank Student Loan CEOJohn Hupalo quits to start student loan counseling firm.
     http://goo.gl/8kZuc
383. 3/02/12 (UK) Bank of England Sir Mervin King resigns in June, Lord Sassoon tipped as replacement.
     http://goo.gl/ZEUwf
384. 3/02/12 (BOTSWANA) Barclays Bank Botswana managing director Wilfred Mpaiforced to resign
     http://goo.gl/npBe2
385. 3/02/12 (HONG KONG) New Century Group Hong Kong Ltd [investment house and leisure group] Wilson Ng resigns
     http://goo.gl/wFSV8
386. 3/02/12 (USA NY) Citigroup Richard Parsons to step down as chairman
     http://goo.gl/BhZ0F
387. 3/02/12 (Canada)   National Bank Announces the Retirement of   Rejean Levesque 
     http://goo.gl/uol12
388. 3/03/12 (AUSTRIA) Volksbank AG (VBAG) The contract of CEO Gerald Wenzel will not be extended
     http://goo.gl/w99tD
389. 3/03/12 (ETHIOPIA) Dashen Bank’s board dismisses president Leulseged Teferihttp://goo.gl/Y801M
390. 3/03/12 (RUSSIA) Enza Capital KK, Wealthy British banker Philip Townsend (Baron Townsend of Rathmore) and his wife killed at Estonia holiday home  ⑆44541444⑈
     http://goo.gl/GSOUN and http://goo.gl/x94ID and http://goo.gl/gGgLP
391. 3/04/12 (KOREA)  Hana Financial Group Inc, prominent figure in the history of South Korean finance Kim Seung-yu , resigns
     http://goo.gl/fmNxY
392. 3/04/12 (USA NY) JP Morgan prop trading chief Mike Stewart quits
     http://goo.gl/gubPj
393. 3/05/12 (SAUDI ARABIA) Al Rajhi Bank CEO Abdullah bin Sulaiman Al Rajhi has resigned
     http://goo.gl/pNx0l
394. 3/5/12 (UK) Jupiter fund co-manager Tony Nutt steps down
     http://goo.gl/RPqOp
395. 3/05/12 (UK) Jupiter fund co-manager John Hamilton steps down
     http://goo.gl/RPqOp
396. 3/05/12 (NEW ZEALAND) Insured Group Bill Jeffries has resigned as chairman and director
     http://goo.gl/gX7wu
397. 3/05/12 (USA) Reliance Bancshares chairman Patrick Gideon resigned
     http://goo.gl/u6BT4
398. 3/05/12 (UK) Charterhouse partner Gordon Bonnyman is stepping down.
     http://goo.gl/iAEYB
399. 3/05/12 (UK) HgCapital, partner Lindsay Dibden is leaving after 20 years.
     http://goo.gl/iAEYB
400. 3/06/12 (FRANCE) Blackstone Group's Paris office leader Jean-Michel Steg will step down
     http://goo.gl/w3Ca5
401. 3/06/12 (JAMAICA) Jamaica Money Market Brokers Limited, Patricia Sutherlandhas resigned as Executive Director
     http://goo.gl/oMwv6
402. 3/06/12 (JAMAICA) Jamaica’s Financial Services Commission (FSC), Executive director Rohan Barnett, has resigned the position, the Ministry of Finance, Planning and the Public Service announced this afternoon.
     http://goo.gl/FBwFo
403. 3/06/12 USA CT) Wells Fargo & Co. said that Mackey McDonald, one of the last remaining directors from Wachovia is retiring.
     http://goo.gl/F1O4v
404. 3/06/12 (USA PA)  USA Technologies Inc Bradley M. Tirpak, a nominee of Shareholder Advocates for Value Enhancement,has resigned from its board subsequent to a settlement agreement with the investing group, according to an SEC filing. Provides a network of wireless non-cash transactions, associated financial/network services and energy management. It provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.
     http://goo.gl/8oi7C
405. 3/06/12 (UK) Sterling Green Group has announced that Philip Kanas, a non-executive director, has decided to resign
     Sterling Green Group PLC became a cash shell following the disposal of their subsidiaries Taxdebts Ltd, Sterling Green (Mortgages) Ltd and the back books of the clients of Sterling Green Ltd. during December 2011.
     http://goo.gl/qc3jB
406. 3/06/12 (UK) Aberdeen Asset Management, non-executive director Gerhard Fusenighas resigned from the board.
     http://goo.gl/ZIkvQ
407. 3/07/12 (GERMANY) Deutsche Bank AG's (DB) Chief Risk Officer Hugo Baenzigeri to resign
     http://goo.gl/MWqsH
408. 3/07/12 (GERMANY) Deutsche Bank AG's (DB) Chief Operating Officer Hermann-Josef Lamberti to resign
     http://goo.gl/MWqsH
409. 3/07/12 (UNITED ARAB EMIRATES) Dubai Mercantile Exchange announcedThomas Leaver will step down as CEO
     http://goo.gl/rfhWN
410. 3/07/12 (SCOTLAND) Macfarlane Group Chairman Archie Hunter to step down after 8 years of service
     http://goo.gl/RHllr
411. 3/07/12 (USA) BlackRock Emerging Markets Fund co-head Daniel Tubbs, has left the group to pursue other opportunities.
     http://goo.gl/CpEzZ
412. 3/07/12 (UK) Goldman Sachs (GSI) Christopher French resigns from board
     http://goo.gl/3yQDS
413. 3/07/12 (UK) Goldman Sachs (GSI) David Wildermuth resigns from board
     http://goo.gl/3yQDS
414. 3/07/12 (UK) Goldman Sachs (GSI) Matthew Westerman resigns from board
     http://goo.gl/3yQDS
415. 3/07/12 (UK) Goldman Sachs (GSI) co-head of global mergers and acquisitions Yoel Zaoui resigns
     http://goo.gl/3yQDS
416. 3/07/12 (UK) Goldman Sachs (GSI) Phil Beatty resigned as head of European power and natural-gas trading
     http://goo.gl/jqbYY
417. 3/07/12 (SINGAPORE) Nikko Asset Management Timothy McCarthy is retiring as chairman and CEO at the end of the month
     http://goo.gl/v8tcT
418. 3/07/12 (HONG KONG) UBS Senior Asia Economist Jonathan Anderson Departs
     http://goo.gl/09VqT
419. 3/07/12 (HAITI) FORMER DIRECTOR HAITI CENTRAL BANK SLAIN!  ⑆44541444⑈
      http://goo.gl/UtVz3
420. 3/07/12 (FRANCE) Société Générale Private Banking, Daniel Truchi is to step down as head of Société Générale Private Banking
     http://goo.gl/XhgJ9
421. 3/07/12 (AUSTRALIA) Customers Ltd, Tim Wildash has cashed himself out as chief executive of Australia’s largest ATM operator
     http://goo.gl/eZJMb
422. 3/07/12 (USA CA) CALSTRS, Pascal Villiger, senior private equity portfolio manager at the $145 billion California State Teachers’ Retirement System resigns
     http://goo.gl/ub0ke
423. 3/07/12 (USA) Astaire quits Bank of America Merrill to dance to Barclays Capital’s tune
     http://goo.gl/Zv6Ny
424. 3/07/12 (US NH)    Susan Goodwin  to Retire from Meredith Village Savings Bank
     http://goo.gl/jEohF
425. 3/07/12 (US TN)     Dwight Grizzell Mountain National president and CEO, retires
     http://goo.gl/h6oJO
426. 3/08/12 (UK)  Schroders, Chairman  Michael Miles  depart as fees, inflows drop. UK's biggest fund management firm.
     goo.gl/TgURM
427. 3/08/12 (USA NY) Schroders, CIO Alan Brown is steps down
     http://goo.gl/ZTtYo
428. 3/08/12 (USA IL) CBOE Executive Patrick Fay Put on Leave Amid SEC Probe
     http://goo.gl/x5snO
429. 3/08/12 (USA NH & RI) Bristol County Savings Bank president E. Dennis Kelly retires after 35 years
     http://goo.gl/8KVKn
430. 3/08/12 (GERMANY) Clearstream Banking AG – Katja Rosenkranz To Leave Deutsche Börse Group [stockmarket]
     http://goo.gl/RiVNi
431. 3/08/12 (UK) B&CE CEO Brian Griffiths is to retire later this year
     http://goo.gl/AV7Sk
432. 3/08/12 (UK) Invesco Trimark Ltd, portfolio manager Dana Love has resigned.
     http://goo.gl/MyQ90
433. 3/08/12 (ISRAEL) Bank of Israel Governor Stanley Fischer will hand in his shock resignation in the coming days and take up a new position as head of the Bank of Zambia. Finance Minister Yuval Steinitz is believed to be furious with Fischer's decision. Treasury officials said he even canceled his participation in the office's annual Purim party in order to convince Fischer to reverse his decision.
     http://goo.gl/0DlSA
434. 3/08/12 (SOUTH AFRICA) Standard Bank Group Limited (SBK), board member Sir Paul Judge retires.
     http://goo.gl/SjSPg
435. 3/08/12 (SOUTH AFRICA) Standard Bank Groupl Limited (SBK), board member Sir Sam Jonah retires.
     http://goo.gl/SjSPg
436. 3/08/12 (Germany)  Managing director and European head of securities lending at Deutsche Bank   Ben Sofoluwe  has left the company
     http://goo.gl/uDnPZ
437. 3/09/12 (MONGOLIA) Mongol Bank President Alag Batsukh submitted his resignation letter to Speaker of Parliament D. Demberel at the end of last month. He described his reason for resigning as a lack of support by Parliament.
     http://goo.gl/RDmNx
438. 3/09/12 (MONGOLIA) Asia Pacific Securities, General Manager Narantuguldur Saijrakh recently resigned, to focus on his role as Director of Khan Investment Management, investment advisor to the Khan Mongolia Equity Fund - the first open-ended investment vehicle with monthly dealing that invests in Mongolia related equities listed both domestically and internationally.
     http://goo.gl/2T4R6
439. 3/09/12 (Côte d’Ivoire) Banque Central des Etats d’Afrique de l’Ouest (BCEAO) The Ivorian governor of the multi-billion dollar West Africa Francophone bank, Philippe-Henry Dacoury-Tabley, resigned his post.
     http://goo.gl/CevLn
440. 3/09/12 (UK) Lazard , co-head of investment banking Alexis de Rosnay quits. De Rosnay specialises in the healthcare sector, he has advised Teva Pharmaceutical and Novartis.
     http://goo.gl/3gzbi
441. 3/09/12 (UK) Deutsche Bank PWM, UK head of portfolio management Martyn Surguyresigned.
     http://goo.gl/5Ti2p
442. 3/09/12 (UK) Deutsche Bank PWM, head of discretionary management, Kypros Charalambous, having also stepped down.
     http://goo.gl/5Ti2p
443. 3/09/12 (HONG KONG) Bank of America Merrill Lynch, K.J. Kim, responsible for Southeast Asia, resigned
     http://goo.gl/sE7xh
444. 3/09/12 (HONG KONG) Bank of America Merrill Lynch, Jimmy Choi, who was in charge of high-yield debt, resigned.
     http://goo.gl/sE7xh
445. 3/09/12 (HONG KONG) Bank of America Merrill Lynch, Leonard Ng, a vice-president in Hong Kong resigned.
     http://goo.gl/sE7xh
446. 3/09/12 (AUSTRALIA) Bank of Queensland CFO Ram Kangatharan plans to leave the bank.
     http://goo.gl/ieNea
447. 3/09/12 (USA) Cerberus Capital Management LP, CEO Robert Nardelli resigns.
     http://goo.gl/9uKVx
448. 3/09/12 (US OH) MORPC leader  Chester Jourdan  resigns
     http://goo.gl/FIwVh
449. 3/09/12 (US OH) Park National Corp.’s chief financial officer  John Kozak retires
     http://goo.gl/hUS18
450. 3/10/12 (AUSTRALIA) WESTPAC, Rob Chapman opted to quit running its regional subsidiary St George Bank.
     http://goo.gl/G6MD
451. 3/10/12 (TURKEY) Garanti Bank, The deputy CEO of Turkish lender Tolga Egemen, has decided to quit.
     http://goo.gl/vAMzV
452. 3/10/12 (CHINA) Korea Development Bank, Shanghai unit senior manager Stella Wenresigned.
     http://goo.gl/55CqZ
453. 3/10/12 (HONG KONG) Deutsche Bank, Johan Sudiman resigns as director.
     http://goo.gl/6CYGP
454. 3/12/12 (USA) John Lewis Partnership Pension Trust, head of investments Andrew Chapman, resigns
     http://goo.gl/hevqh
455. 3/12/12 (USA CA) California’s Department of Financial Institutions, commissionerWilliam Haraf resigned. The DFI did not say why he is leaving.
     http://goo.gl/zquTc
456. 3/12/12 (KUWAIT) Gulf Bank, Chairman Ali Rashaid Al Bader quits
     http://goo.gl/LDz9b
457. 3/12/12 (UK and IRELAND) Allfunds Bank, head of UK and Ireland Alan Gadd is stepping down from his role at the end of April.
     http://goo.gl/4DF6i
458. 3/12/12 (USA) ICAP, CEO of the electronic broking business David Rutter step down following a restructuring of the business.
     http://goo.gl/SUHqW
459. 3/12/12 (UK) SVG Capital, chairman Nicholas Ferguson resigns. His departure left him well placed to succeed James Murdoch as chairman of BSkyB should the latter bow to investor pressure and step down. Other investors in the satellite broadcaster suggested Ferguson might be seen as too close to Murdoch to win the support of institutional shareholders.
     http://goo.gl/z19wH
460. 3/12/12 (UK) Park Hill Group - Blackstone Group’s fundraising advisory arm, Managing Partner of private equity and hedge fund distribution Chris Leach resigns
     http://goo.gl/jnHax
461. 3/12/12 (UK) Park Hill Group - Blackstone Group’s fundraising advisory arm, Managing Partner Justin Bower resigns
     http://goo.gl/jnHax
462. 3/12/12 (UK)  The chief executive David Rutter of the electronic broking business at interdealer broker Icap stepping down.
     http://goo.gl/sxk4y
463. 3/12/12 (SOUTH AFRICA) The Development Bank of Southern Africa (DBSA), CEO Paul Baloyi resigns.
     http://goo.gl/yX4xo
464. 3/12/12 (USA) Lehman Brothers Holdings Inc, CEO Bryan Marsal Resigns Title, Remains on as Adviser
     http://goo.gl/1K9zV
465. 3/12/12 (USA IL) CME Group Inc, CEO Craig Donohues will step down at year end.
     http://goo.gl/lvzgC
466. 3/13/12 (USA) Eaton Vance Corp, Treasurer and CFO Robert J. Whelan has stepped down.
     http://goo.gl/oxmbL
467. 3/12/12 (USA IL) CBOE Holdings Inc. (CBOE), senior compliance executive Patrick Fayhas resigned. The options exchange being investigated by the Securities and Exchange Commission, Fay had been placed on leave after the SEC began investigating the options-market operator’s oversight of traders. http://goo.gl/gj4W6
468. 3/13/12 (USA) Mithras Investment Trust, chairman Mike Wooderson will step down
     http://goo.gl/UjO2e
469. 3/13/12 (USA) PHH Mortgage, President Luke Hayden resigned from to pursue what the company calls "other interests." http://goo.gl/iaqQf
470. 3/13/12 (USA) PHH Mortgage, Treasurer Mark Johnson.resigned
     http://goo.gl/iaqQf
471. 3/13/12 (AUSTRALIA) WESTPAC, head of corporate affairs after David Bell decided to step down from the role. Bell is the latest top executive to leave the bank.
     http://goo.gl/FntUz
472. 3/13/12 (UK) Capula’s Systemic Trading Head Qiang Dai to Leave Fund
     http://goo.gl/zkrN2
473. 3/13/12 (UAE) National Bank of Abu Dhabi, CEO Michael Tomalin, will retire from the post in a few months.
     http://goo.gl/dzBW8
474. 3/13/12 (ISRAEL) Osem Investments Ltd, CEO Gazi Kaplan has tendered his resignation, effective April 2, citing heath reasons. Nestlé SA owns 58.8% of Osem.
     http://goo.gl/t032l
475. 3/13/12 (USA) Paulson & Co.'s, partner and head of the global bank team Robert Lacoursiere has quit to form his own hedge fund
     http://goo.gl/I8UNd
476. 3/13/12 (AUSTRALIA) ASX Ltd, Chairman David Gonski will step down from his role at Australia’s main stock market operator after being appointed to oversee almost A$90 billion ($95 billion) in the nation’s sovereign-wealth funds.
     http://goo.gl/gJN33
477. 3/13/12 (UK) JP Morgan, Asset Management European chief Jamie Broderick is to step down more than 20 years at the firm.
     http://goo.gl/MV65V
478. 3/13/12 (UK) SVG Chairman Nicholas Ferguson retires.
     http://goo.gl/hTDDY
479. 3/13/12 (UK) SVG Director Edgar Koning retires.
     http://goo.gl/hTDDY
480. 3/13/12 (UK) SVG Director Denis Raeburn retires.
     http://goo.gl/hTDDY
481. 3/13/12 (UK) SVG Director Francis Finlay retires.
     http://goo.gl/hTDDY
482. 3/13/12 (UK) Nomura's  Kieran Higgins  co-head of fixed income for Europe, the Middle East and Africa sacked
     http://goo.gl/qK80I
483. 3/13/12 (UK) Nomura Holdings Inc. (8604), Japan’s biggest securities firm, will cut about 30 managers in its fixed income unit based in London, Peter Hornick  head of fixed income sales for the Americas sacked
     http://goo.gl/qK80I
484. 3/14/12 (UK) Global head of financial institutions strategic financing and solutions at Royal Bank of Scotland  Antonion Polverino leaves
     http://goo.gl/4pp3I
485. 3/14/12 (UK) Goldmand Sachs, executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa, Greg Smith, is resigning today.
     http://americankabuki.blogspot.com/2012/03/why-i-am-leaving-goldman-sachs.html
486. 3/14/12 (SOUTH AFRICA) ABSA chairman Garth Griffin to retire
     http://goo.gl/Mhjb5
487. 3/14/12 (UK)  WorldSpreads, CEO Conor Foley  resigns
     http://goo.gl/GgT4z
488. 3/15/12 (US WA) HomeStreet Bank, EVP and CFO  David Hooston  resigns
     goo.gl/UUlc0
489. 3/15/12 (DENMARK)  Sparekassen Faaborg board member  Steen Grønved Nielsen  resigns
     http://tinyurl.com/6rd3m74
490. 3/15/12 (UK)  RBC Capital Markets head of SSA syndicate desk Noel Williams  resigns
     http://tinyurl.com/7zcf4z8
491. 3/15/12 (UK)  Novia London sales manager Dave Chassell  quits
     http://tinyurl.com/7gx6sn2
492. 3/15/12 (US CA)  Prosper Finance (online venture captial services) CEO  Chris Larsen  steps down
     http://tinyurl.com/6lhu8xx
493. 3/15/12 (UK)  The Royal British Legion’s (fund) director of corp. communications  Stuart Gendall  resigns
     http://tinyurl.com/7bhtysl
494. 3/15/12 (IRELAND)  President of Sinn Fein USA (fund)  Larry Downes  steps down
     http://tinyurl.com/7uqnwcg
495. 3/16/12 (AUSTRALIA)  Investorfirst CFO and company secretary  Ariel Sivikofsky resigns
     http://tinyurl.com/7jdshty
496. 3/16/12 (MALAYSIA)  Amanah Raya Bhd (trust) managing director  Datuk Ahmad Rodzi Pawanteh  steps down
     http://tinyurl.com/7wbujpm
497. 3/16/12 (UK) Towry (investment & fin. advice)  Non-exec chairman Glyn Jones steps down
     http://tinyurl.com/83g3y8b
498. 3/16/12 (GERMANY)  Deutsche Bank Chief risk officer (CRO)of  Hugo Bänziger  steps down
     http://tinyurl.com/7pmal9k
499. 3/16/12 (US IL)  Henderson Global Investors Inc. head of the International Opportunities Fund  Iain Clark  steps down
     http://tinyurl.com/7kfxz3j
500. 3/16/12 (US CA)  Executive VP and Chief Compliance Officer of Heritage Bank of Commerce  Margaret Incandela  resigns
     http://tinyurl.com/6wcaqaz
501. 3/16/12 (US VA)  Genworth Financial board member  J. Robert Kerrey  resigns to campaign for senate seat
     http://tinyurl.com/7566f74
502. 3/16/12 (UK)  CEO of the FSA (Financial Services Authority)  Hector Sants  to leave
     http://tinyurl.com/7av7v5n>
503. 3/19/12 (US IA)  ISU Foundation (fund), President and CEO of the  Dan Saftig  to step down
     http://tinyurl.com/7jvb24x
504. 3/19/12 (BRAZIL)  HSBC Brazil CEO Conrado Engel  steps down
     http://tinyurl.com/89uayoo
505. 3/19/12 (UAE)  Finance head at SNR Denton Islamic  Sheikh Muddassir Siddiqui  resignsto pursue advisory role
     http://tinyurl.com/84avxch
506. 3/19/12 (SWITZERLAND)  Julius Baer bank’s chairman  Raymond Baer  steps down in a “surprise departure”
     http://tinyurl.com/84gcl3z
507. 3/19/12 (GERMANY) Deutsche Bank, asset management chief  Kevin Parker  to leave executive committee
     http://goo.gl/ahZlJ
508. 3/19/12 (GERMANY) Deutsche Bank, head of private wealth management Pierre de Weck resigns from executive committee
     http://goo.gl/wRZkU
509. 3/19/12 (HONG KONG)  China Development Bank HK branch CEO  Di Weiping  retires
     http://tinyurl.com/7xcskmp
510. 3/19/12 (US ID)  SunTrust Bank president and CEO  Thomas Rueger  to retire
     http://tinyurl.com/7n2l6sr
511. 3/19/12 (SWEDEN)  AP6 (private equity) CEO  Marianne Dicander Alexandersson steps down
     http://tinyurl.com/7bnvygp
512. 3/19/12 (SWITZERLAND)  FINMA (Swiss Financial Market Supervisory Authority)  Vice-chair Monica Mächler  to step down
     http://tinyurl.com/7r9akho
513. 3/19/2012 (US DE)   David Folk­wein,  interim president and chief executive officer of Delaware County Bank, is leaving the position effective June 22
     http://goo.gl/p6nxa
514. 3/19/12 (Greece)   Greek finance minister Venizelos  resigns to head Socialist party
     http://goo.gl/XMdQw
515. 3/19/12 (BRAZIL) HSBC Brazil Chief Executive Conrado Engel Steps Down
     http://goo.gl/LvtXe
516. 3/16/12 (Cyprus)  Cyprus Finance Minister Kikis Orcel  resigns in spite of president's plea to stay
     http://goo.gl/tbJI2
517. 3/20/12 (KUWAIT)  National Investments Co. chairman Yousef Al Majid  resigns
     http://tinyurl.com/7maw3xx
518. 3/20/12 (UK)  Bank of America, Co-head of distressed debt at  Michael Guy  resigns
     http://tinyurl.com/75eml6v
519. 3/20/12 (US PA)  Penseco Financial Services Corp, Former state senator Robert J. Mellow resigns from board
     http://tinyurl.com/6rxqeo9
520. 3/20/12 (US TX)  Acquisition chief Dan Magder  quits Lone Star Investments
     http://tinyurl.com/6qm2rj4
521. 3/20/12 (NIGERIA)  Chairman of House Committee on Capital Markets  Hon. Herman Hembe  resigns due to allegations of bribery
     http://tinyurl.com/7r6dk54
522. 3/20/12 (Hong Kong)  Head of Deutsche Bank Asia-Pac  Loh Boon Chye quits
     http://tinyurl.com/6muckmq
523. 3/20/12 (US NY)  Deutsche Bank, head of asset management  Kevin Parker  steps down from executive committee
     goo.gl/4NO66
524. 3/20/12 (GERMANY) Deutsche Bank, Chairman and CEO  Josef Ackermann exits with pension of €18.7 million
     http://goo.gl/eiF39
525. 3/20/12 (UK) Coller Capital, CEO Charles Hippsley has left to help lead a Christian organisation in London.
     http://goo.gl/rVFz0
526. 3/21/12 (GERMANY)  Deutsche Bank AG, Co-head Wolfgang Hammes  leaves
     http://tinyurl.com/74ks8jk
527. 3/21/12 (UK)  Aviva Investor’s European equity head  John Botham  exits
     http://tinyurl.com/7qwlc26
528. 3/21/12 (CANADA)  National Bank’s Ontaria, Atlantic region manager  Mike Miller leaves
     http://tinyurl.com/7kq4bdp
529. 3/21/12 (UK)  Royal Bank of Scotland Group’s global head of equity prime services  Gregory Wagner  resigns
     http://tinyurl.com/6vz8f8k
530. 3/21/12 (US DC)  Liquidity Services Inc, Chief information officer Eric Dean  resigns
     http://tinyurl.com/7v2c4ku
531. 3/21/12 (US NC)   Bank of America Corp.’s salesman Michael Miller resigns
     http://goo.gl/S4mwQ
532. 3/21/12 (US NC)   Bank of America Corp.’s salesman John Livingstone resigns
     http://goo.gl/S4mwQ
533. 3/21/12 (US NC)   Bank of America Corp.’s Michael Case,  a director of commercial mortgage security banking, resigns
     http://goo.gl/S4mwQ
534. 3/21/12 (US NC)   Bank of America Corp.’s John Eck,  a managing director of asset-based trading, resigns
     http://goo.gl/S4mwQ
535. 3/21/12 (US NC)   Bank of America Corp.’s Seth Jacker,  a managing director of mortgage sales, resigns
     http://goo.gl/S4mwQ
536. 3/21/12 (US NC)   Bank of America Corp.’s John McNiff,  a managing director who served as co-head of trading in commercial mortgage securities, resigns
     http://goo.gl/V1c9R
537. 3/21/12 (US NY)   JP Morgan's adjustable-rate mortgages trader   Roy Kim  resigns
     http://goo.gl/qvUH9
538. 3/21/12 (US NY)   JP Morgan's securitized-products salesman  John Angelica  resigns
     http://goo.gl/qvUH9
539. 3/21/12 (US NY)   JP Morgan's co-head of trading in subprime mortgages  Raphael Gonzalez  resigns
     http://goo.gl/qvUH9
540. 3/21/12 (US TN)  Chief financial officer for First Security Group, parent of FSGBank,  William L. “Chip” Lusk Jr.  Leaves. http://goo.gl/fNEg2
541. 3/22/12 (UK)  Global equity head Neil Rogan  resigns from Henderson Global Investors
     http://tinyurl.com/7v2c4ku
542. 3/22/12 (NETHERLANDS) CIO at Nedlloyd Pension Fund  Bert Tibben  step down
     http://goo.gl/NHE94
543. 3/22/12 (UK) Bank of America Corp, chairman of global banking and markets, Andrea Orcel steps down, goes to UBS
     http://goo.gl/AVXL2
544. 3/22/12 (UK) Bank of America Corp, Jonathan Moulds steps down, helped build the bank’s over-the-counter derivatives trading business and held positions including global head of rate derivatives trading, head of global derivatives and head of global rates and commodities.
     http://goo.gl/AVXL2
545. 3/22/12 (CHINA) China Construction Bank, Zhang Enzhao  resigns in the wake of bribery and corruption accusations Bank.
     http://goo.gl/WfAio
546. 3/22/12 (SWITZERLAND) Lombard Odier Investment Managers, Chief Investment officer for equities Aziz Nahas of , the asset management arm of the Swiss private bank resigns.
     http://goo.gl/ny7dI
547. 3/23/12 (SWITZERLAND) Credit Suisse, Peter Weibel will be resigning from the Board of Directors of both Credit Suisse Group AG and Credit Suisse AG as of the next Annual General Meeting on April 27, 2012.
     http://goo.gl/USGHQ
548. 3/23/12 (JAPAN)  The head of Asia-Pacific at UBS Global Asset Management   Christof Kutscher  steps down
     http://goo.gl/mUbqo
549. 3/25/12 (EGYPT) National Bank of Egypt, CEO Tarek Amer said that he will step down from his position at the end of 2012.
     http://goo.gl/tC7Ma
550. 3/26/12 (HONG KONG) JP Morgan's most senior banker in Asia-Pacific, Gaby Abdelnour, will quit this summer to pursue personal interests
     http://goo.gl/1J5ks
551. 3/27/12 (ITALY) UniCredit SpA, Dieter Rampl to resign as chairman of the Italian bank, saying he would step down on April 19. Rampl will represent the bank on the board of Mediobanca (MB.MI), a smaller Italian bank in which UniCredit has a stake.
     http://goo.gl/D3JTR
552. 3/28/12 (RUSSIA) Bank of America sales director, George Kogan, who worked in Moscow leaves firm.
     http://goo.gl/ivXhp
553. 3/28/12 (RUSSIA) Bank of America, Dir. of equity sales trading, Ekaterina Myasinawho worked in Moscow leaves firm.
     http://goo.gl/ivXhp
554. 3/28/12 (RUSSIA) Bank of America Sales Traders Alexander Orekhov who worked in Moscow left the firm.
     http://goo.gl/ivXhp
555. 3/28/12 (ZIMBABWE) CBZ Holdings, CEO Nyasha Makuvise has stepped down after serving for 16 years.
     http://goo.gl/9Zxtn
556. 3/29/12 (SRI LANKA) Seylan Bank, Eastman Narangoda steps down.
     http://goo.gl/l6llO
557. 3/29/12 (USA CT) Union Savings Bank CEO Jay C. Lent abruptly resigned Thursday, saying his "his heart is no longer into managing the Danbury lender". Lent, who took a three month leave of absence in October, cited personal reasons for his departure after spending 11 years at the bank.
     http://goo.gl/sXZP6
558. 3/30/12 (INDIA) IDBI Bank has announced that Mr Rakesh Singh, a director, has resigned from the bank's board. This follows his appointment as Chief Secretary of Punjab. Mr Singh, who was additional Secretary in the Department of Financial Services, was a Government nominee in IDBI Bank's board. He took charge as Chief Secretary of Punjab on March 26.
     http://goo.gl/aKwmp
559. 3/30/12 (UK) Bank of America Merrill Lynch, President of European business,Jonathan Moulds, is set to step down to pursue philanthropic activities, after almost two decades at the bank.
     http://goo.gl/wdXRa
560. 3/31/12 (HONG KONG) Credit Suisse Hong Kong Private Bank Location Head, James Hong, Steps Down
     http://goo.gl/HUXI9
561. 4/02/12 (UK) Royal Bank of Scotland, Simon Taylor, head of equities sales trading at Royal Bank of Scotland, has left the to rejoin JP Morgan after four years.
     http://goo.gl/46TnS
562. 4/02/12 (AUSTRIA) RZB, CEO Christian Konrad resigned two years before the expiration of his term in office.
     http://goo.gl/OteIR
563. 4/02/12 (UK) British Bankers’ Association (BBA), CEO Angela Knight, to step down as CEO in the summer.  The BBA is a century-old lobby group that oversees the London interbank offered rate (LIBOR).
     http://goo.gl/G9MDq
564. 4/02/12 (UK) J.P. Morgan Cazenove, One of London's most prominent bankers was fined 450,000 pounds for passing on inside information in a case that will embarrass his employer J.P. Morgan Cazenove and which marks a push by regulators to target high-profile figures. Top "rainmaker" Ian Hannam resigned on Tuesday, to fight the fine imposed by the Financial Services Authority (FSA) in relation to 2008 emails that contained information about one of his clients, Heritage Oil. The gruff former special forces soldier, who rose from humble beginnings, is the fifth person to be fined in relation to improper disclosure this year by the regulator, which has previously been accused of being ineffectual in its fight against financial crime. Of the five, Hannam is the most prominent.
     http://goo.gl/wmO42
565. 4/02/12 (NETHERLANDS) Rabobank Group Kees Beuving will step down as Chairman of the current Board of Management of Friesland Bank. He is making way for new members of the Board of Management.
     http://goo.gl/dkykr
566. 4/02/12 (NETHERLANDS) Rabobank Group Anne Vlaskamp has stated that, after 37 years of service at the bank, he sees this as a natural moment to step down and to give the new Board of Management the space to guide the integration.
     http://goo.gl/dkykr
567. 4/02/12 (JAPAN) UBS AG, chief equity strategist Shoji Hirakawa has left the firm
     http://goo.gl/EtHOj
568. 4/02/12 (JAPAN) UBS AG, Fumihide Goto, an analyst covering makers of electronic parts has left the firm
     .http://goo.gl/EtHOj
569. 4/02/12 (JAPAN) UBS AG, Shinsuke Iwasa, who covered media stocks has left the firm.
     http://goo.gl/EtHOj
570. 4/02/12 (JAPAN) UBS AG, Aya Fujiki, an insurance company analyst, has also left the company
     http://goo.gl/EtHOj
571. 4/03/12 (CHILE AND PERU) Deutsche Bank, Chairman for Chile and Peru, José Miguel Alcalde, has resigned after almost twelve years at the institution by his desire to spend more time with his family.
     http://goo.gl/ArQfA
572. 4/03/12 (INDIA) Avigo Capital Partners buyout specialist Girija Tripathy Quits, To Start Own Fund
     http://goo.gl/VjvqV
573. 4/03/12 (INDIA) BSE Ltd, Madhu Kannan quits to join Tata Sons. Kannan was instrumental in launching currency derivatives, SME Exchange and derivatives of four global indices trading on the exchange platform.
     http://goo.gl/4l6au
574. 4/03/12 (CYPRUS) Bank of Cyprus PLC, Christakis Christofides has resigned as a director effectove March 31, 2012.
     http://goo.gl/aNzSN
575. 4/04/12 (USA NY) Shearman & Sterling senior partner Rohan Weerasinghe has left the US firm to take up a new role at Citi.
     Weerasinghe will take up his new position as general counsel and company secretary at the Wall Street investment bank.
     http://goo.gl/4QUbK
576. 4/05/12 (USA NY) Brian Sack to Resign from New York Federal Reserve Bank
     http://goo.gl/E8RCo see also http://americankabuki.blogspot.com/2012/04/ny-federal-reserve-markets-group-chief.html
577. 4/05/12 (UK) HSBC Holdings Plc (HSBA), Europe’s largest bank, said commercial banking chief Sandy Flockhart will step down after 37 years at the company.
     http://goo.gl/lkGBy
578. 4/05/12 (EGYPT) Credit Agricole Egypt bank, Mohamed Lotfy Mansour resigned from his post as the CEO of the bank. Family members of two Mubarak-era ministers have left their posts on the board of Credit Agricole Egypt bank, state-run news agency MENA reported Tuesday. The Maghrabi and Mansour families together own 17 percent of the Cairo bank’s total capital of LE1.14 billion. Last year, an Egyptian court sentenced Maghrabi to five years in prison on charges of profiteering and abusing public funds.
     http://goo.gl/suq4f
579. 4/05/12 (EGYPT) Credit Agricole Egypt bank, Yaseen Mansour resigned as a board member. For details see Mohamed Lotf Mansour above.
     http://goo.gl/suq4f
580. 4/05/12 (EGYPT) Credit Agricole Egypt bank, Youssef Mansour resigned as a board member. For details see Mohamed Lotf Mansour above.
     http://goo.gl/suq4f
581. 4/06/12 (UAE - DUBAI) Deutsche Bank: MENA, Henry Azzam, the chairman of its Middle East and North Africa operations and one of the region's most senior bankers, has stepped down.
     http://goo.gl/UXua1
582. 4/06/12 (UAE - DUBAI) Shuaa Capital CEO Michael Philipp has stepped down
     http://goo.gl/E9IqA
583. 4/07/12 (MALTA) Fimbank director directors Gérard Lohier resigns
     http://goo.gl/5IgRy
584. 4/07/12 (MALTA) Fimbank director directors Pierre-Olivier Fragnière resigns
     http://goo.gl/5IgRy
585. 4/09/12 (USA FL) Florida Bank Chief credit officer Thomas Croom resigned as EVP and chief credit officer of Florida Bank. Croom resigned to pursue other employment opportunities.
     http://goo.gl/eFgSy
586. 4/09/12 (USA NY) Pioneer Bank CEO Eileen Bagnoli to retire after 40 years.
     http://goo.gl/e9I72
587. 4/09/12 (UK) HSBC Holdings plc, Sandy Flockhart is retiring as an executive director
     http://goo.gl/O84Uo
588. 4/10/12 (USA PA) The Federal Reserve ordered Louis A. DeNaples to step down from his position as chairman of the board of First National Community Bancorp of Dunmore, Pa., following a settlement he reached with prosecutors following perjury charges. DeNaples must also submit a plan for selling his controlling stakes in First National and another bank.
     http://goo.gl/6Yrrr
589. 4/10/12 (POLAND) Bank Millennium SA, CEO Boguslaw Kott, will leave the bank's top job by June 2013 after heading the lender since 1989, Millennium said Tuesday. Millennium's troubled owner, Banco Comercial Portugues S/A (BCP.LB), had put its Polish unit up for sale last year because of a heavy debt load, but dropped the plan after restructuring its balance sheet.
     http://goo.gl/B8tIQ
590. 4/10/12 (USA NY) Goldman Sachs, co-head of global M&A Yoel Zaoui is stepping down. Zaoui has been with G.S., for 25 years.
     http://goo.gl/LuDQT
591. 4/13/12 (GERMANY) Deutsche Bank economist Thomas Mayer to step down.
     http://goo.gl/L6y21
592. 4/13/12 (USA) Bank of America chief information officer Marc Gordon has quit and embarking on a "personal change in direction" says a statement given to Reuters.
     http://goo.gl/T5bXt
593. 4/13/12 (USA) Barclays Bank, US wealth unit COO Ian Lowitt to depart
     http://goo.gl/4vnDm
594. 4/15/12 (JAPAN) Japan Bank for International Cooperation, Hiroshi Okuda, governor of the Japan Bank for International Cooperation, has stepped down as an adviser to Toyota Motor Corp after becoming the bank's head as of April 1. Okuda no longer holds a position at the major automaker after the government-owned bank said it was undesirable for Okuda to keep titles at a private company while serving as the bank's head.
     http://goo.gl/4WufA
595. 4/16/12 (UK) Jefferies, Star UK media rainmaker Jonnie Goodwin, who has advised on 100 transactions in the sector worth an aggregate $15bn in the past decade, has quit Jefferies to launch an “independent merchant bank” called Lepe Partners. Goodwin, who joined the US investment bank after selling his investment banking boutique Longacre Partners to the latter five years ago, said that the new start-up will target media and internet transactions, and has raised an “annual pledge fund” worth almost £25m from erstwhile clients and the investment offices of wealthy families.
     http://goo.gl/RRDe6
596. 4/16/12 (US CA) Federal Reserve Bank of San Francisco, Economic Advisory Council member, Kim Roberts Hedgpeth, resigned from has decided to step down as SAG-AFTRA (actors union) Co-National Executive Director on April 30. Hedgpeth also served as a Trustee of the AFTRA Health & Retirement Funds, a member of the boards of the AFM-AFTRA Intellectual Property Rights Distribution Fund, Alliance of Artists and Recording Companies and SoundExchange, a VP of the AFL-CIO's Department for Professional Employees and a VP of the Associated Actors and Artistes of America.
     http://goo.gl/fhG94
597. 4/17/12 (USA NY) UBS AG, The head of investment banking for the Americas at UBS AG,Aryeh Bourkoff, has resigned "to pursue other opportunities"
     http://goo.gl/A8yHH
598. 4/18/12 (AUSTRALIA) Heritage Bank, Brian Carter, head of Australia's largest building society, is retiring as chairman of Heritage Bank after 30 years of service.
     http://goo.gl/yxf4U
599. 4/18/12 (USA NY) UBS AG, Ehren Stenzler, the co- head of U.S. mergers and acquisitions, is leaving the bank
     http://goo.gl/lT25N
600. 4/18/12 (European Union) Luxembourg prime minister Jean-Claude Juncker, reaffirms plan to resign as head of euro zone finance ministers in midyear.
     http://goo.gl/QfcCm
601. 4/18/12 (UK) Serious Fraud Office, The Serious Fraud Office has seen the sudden departure of its CEO Phillippa Williamson only days before its director of operations is also due to leave. In an unexpected move, she left the agency this week, and a spokesman said she may not necessarily be replaced.
     http://goo.gl/pHKrj
602. 4/19/12 (UK) Royal Bank of Scotland, Ian Alderton, chief information officer at the corporate division of Royal Bank of Scotland (RBS), has left the bank this month, Computer Weekly has learned.
     http://goo.gl/ZW6Pw
603. 4/19/12 (UK) DJ Rothschild, The chief executive for Rothschild's Middle East business,Herve Sawko, has stepped down and has been replaced with the bank's previous head of M&A in the region, people familiar with the situation told Dow Jones Newswires Thursday. Sawko, a French national, took up the post in Dubai at the end of 2009 following three years at the bank's New York office working on cross-border transactions. He is returning to Paris where he has spent most of his career with Rothschild.
     http://goo.gl/1Y5BB
604. 4/19/12 (UK) Instinet Europe CEO Richard Balarkas, an early pioneer of electronic trading, has decided to step down after four years at the helm of the Nomura (NMR) owned agency brokerage.
     http://goo.gl/GZy07
605. 4/19/12 (UK) Aviva Plc, Igal Mayer, CEO of Europe steps down.
     http://goo.gl/y9juR
606. 4/19/12 (UK) Aviva Plc, Richard Hoskins, CEO of North America steps down.
     http://goo.gl/y9juR
607. 4/19/12 (UK) Aviva Plc, Alain Dromer, CEO of Aviva Investors steps down.
     http://goo.gl/y9juR
608. 4/20/12 (UK) Financial Services Authority, Hector Sants, one of Britain’s top financial regulators during the banking crisis of the past five years, has decided to step down as chief executive of the Financial Services Authority, in a move that deals a blow to current arrangements to overhaul the country’s system of financial regulation.
     http://goo.gl/USmYz
609. 4/20/12 (ISRAEL) Morgan Stanley, The head of investment banking for Israel, Central and Eastern Europe and Africa at Morgan Stanley, Ronnie Golan, who prior to joining the bank was an F15 fighter jet pilot in the Israeli air force, is to leave the bank ahead of an expected move to a rival.
     http://goo.gl/uWzMb
610. 4/21/12 (ROMANIA) ING, deputy chief executive Albert Roggemans, said he was leaving for personal reasons
     http://goo.gl/3lbTj
611. 4/22/12 (INDIA) Dhanlaxmi Bank Senor VP & Head of Marketing, Sheran Mehra steps down, taking a position as Head-Marketing, Mahindra Holidays.
     http://goo.gl/dVZKL "
     
     For å forstå banksystemet og de uunngåelige konsekvensene av dagens system, les:
     
     
     
     
     Mystery of Banking er en fantastisk introduksjon til  banksystemets utvikling i den anglo-sakiske verden og per i dag hele verden. Kan også fås gratis her.