Who is Resigning the Great Bankers of the World?

February saw a series of what I expect to be statistically unlikely resignations (though I confess I do not have time-series data on banker resignations at hand) by high-powered international bankers: World Bank chief Bob Zoellick, the leader of Kuwait's central bank, the chief's of Slovenia's two biggest banks, the CEO of big Indian bank Dhanlaxmi, Nicaragua's central bank, and the Royal Bank of Scotland's Austrialian arm.

A conspiracy-minded site with a collection of links about turmoil and job turnover in high finance and government positions stretching back through last year. Can bankers and government officials sense coming earthquakes, as household pets are said to be able to?

The punchline? Yet Ben Bernanke still has a job to go to every day.

Bonus thriller banking paranoia, Gnomes of Zurich division: what the heck was up with those trillions of "counterfeit" U.S. bonds from 1934 found in Zurich last month, in serious treasure-chest looking boxes apparently the property of the Chicago Federal Reserve? 

My favorite classic of modern international banker conspiracy paranoia, David Yallop's In God's Name, about the supposed murder of Pope John Paul I.

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  • ||

    The monopoly dude is a robber baron not a banker.

  • CE||

    really? where's his monocle?

  • MJ||

    I thought we just called him "Commodore" while the policeman found him a fourteen year old girl?

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  • Brian Doherty||

    While I appreciate board game pedantry as I support all pedantry, poor dude has become a generic symbol of baffled plutocracy. At least in my eyes.

  • John Tagliaferro||

    I agree. They should switch to using your Burning Man picture.

  • I||

    I dunno. Maybe individuals should think for themselves?

  • John Tagliaferro||

    I am still baffled as to why Reason keeps using this old picture of me. I switched to a cowboy hat to be less recognizable.

  • shrike||

    I am also a fan of conspiracy theories and separately, world finance and central banking.

    Together they are like peanut butter and chocolate.... invented centuries apart but now a nice fit together.

    Since the topic of the day is right-wing loons all this article is missing is Glenn Beck. Especially with that Pope bit.

  • CE||

    But the people with the money are the ones with the most to gain through successful conspiring, and the greatest means available to do so effectively.

  • Raston Bot||

    70% bond haircut 100% voluntary and still no credit event in Hellenic Republic.

    -ISDA

  • shrike||

    Credit event?

    Do you mean a CDS trigger? Have you read a CDS contract?

    Not many outside Morgan or Goldman have.

  • Shrike||

    In addition to being a fan of central banking, high finance, conspiracy theories I'm also favorably inclined towards nipple torture (both with and without hot wax), pole sitting (not the dirty kind) and Cleveland Steamers.

    I'll indulge in ALL my passions just as soon as I get out of this strait jacket!

  • CE||

    Who is John Galt?

  • Hint||

    Not a libertarian.

  • Spartacus||

    Bernanke has a job? I thought he was some sort of government official.

  • ||

    Counterfeit US Treasuries? Isn't that like counterfeiting toilet paper?

  • ||

    A tracking of job turnover at these banks is easily traceable by hunting BusinessWire and PRNewswire. A basic search on these sites narrowed down to Finance and Personnel Announcements will yield what the average turn over was going back as far as the archives will allow. If the average is about 80 Personnel Press Releases announcing a new CEO in six months, then that means 80 CEOs left their jobs to make room for new ones.

    As for basic turnover, how many of these large banks are there, what was the average length of service as an executive or CEO at said company and simple division should tell you what the average turn over is. If the average length of service as CEO or executive is five years, then you can figure a 20% turn over per annum. If in the 6 months, 81 bankers represents 10% of top banking executives worldwide, then it is par for the course.

  • Brian Doherty||

    LG---are all those figures speculative fer'instnces, or actual?

  • ||

    Brian, purely speculative. Merely throwing out a number to give an example on how to calculate turnover before this noted period.

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