Why Are Banking Executives In London Killing Themselves?

Why Are Banking Executives In London Killing Themselves? (Economic Collapse, Jan 28, 2014):

Bankers committing suicide by jumping from the rooftops of their own banks is something that we think of when we think of the Great Depression.  Well, it just happened in London, England.  A vice president at JPMorgan’s European headquarters in London plunged to his death after jumping from the top of the 33rd floor.  He fell more than 500 feet, and it is being reported by an eyewitness that “there was quite a lot of blood“.  This comes on the heels of news that a former Deutsche Bank executive was found hanged in his home in London on Sunday.  So why is this happening?  Yes, the markets have gone down a little bit recently but they certainly have not crashed yet.  Could there be more to these deaths than meets the eye?  You never know.  And as I will discuss below, there have been a lot of other really strange things happening around the world lately as well.

But before we get to any of that, let’s take a closer look at some of these banker deaths.  The JPMorgan executive that jumped to his death on Tuesday was named Gabriel Magee.  He was 39 years old, and his suicide has the city of London in shock

A bank executive who died after jumping 500ft from the top of JP Morgan’s European headquarters in London this morning has been named as Gabriel Magee.

The American senior manager, 39, fell from the 33-story skyscraper and was found on the ninth floor roof, which surrounds the Canary Wharf skyscraper.

He was a vice president in the corporate and investment bank technology department having joined in 2004, moving to Britain from the United States in 2007.

What would cause a man in his prime working years who is making huge amounts of money to do something like that?

The death on Sunday of former Deutsche Bank executive Bill Broeksmit is also a mystery.  According to the Daily Mail, police consider his death to be “non-suspicious”, which means that they believe that it was a suicide and not a murder…

A former Deutsche Bank executive has been found dead at a house in London, it emerged today.

The body of William ‘Bill’ Broeksmit, 58, was discovered at his home in South Kensington on Sunday shortly after midday by police, who had been called to reports of a man found hanging at a house.

Mr Broeksmit – who retired last February – was a former senior manager with close ties to co-chief executive Anshu Jain. Metropolitan Police officers said his death was declared as non-suspicious.

On top of that, Business Insider is reporting that a communications director at another bank in London was found dead last week…

Last week, a U.K.-based communications director at Swiss Re AG died last week. The cause of death has not been made public.

Perhaps it is just a coincidence that these deaths have all come so close to one another.  After all, people die all the time.

And London is rather dreary this time of the year.  It is easy for people to get depressed if they are not accustomed to endless gloomy weather.

If the stock market was already crashing, it would be easy to blame the suicides on that.  The world certainly remembers what happened during the crash of 1929

Historically, bankers have been stereotyped as the most likely to commit suicide. This has a lot to do with the famous 1929 stock market crash, which resulted in 1,616 banks failing and more than 20,000 businesses going bankrupt. The number of bankers committing suicide directly after the crash is thought to have been only around 20, with another 100 people connected to the financial industry dying at their own hand within the year.

But the market isn’t crashing just yet.  We definitely appear to be at a “turning point“, but things are still at least somewhat stable.

So why are bankers killing themselves?

That is a good question.

As I mentioned above, there have also been quite a few other strange things that have happened lately that seem to be “out of place”.

For example, Matt Drudge of the Drudge Report posted the following cryptic message on Twitter the other day…

“Have an exit plan…”

What in the world does he mean by that?

Maybe that is just a case of Drudge being Drudge.

Then again, maybe not.

And on Tuesday we learned that a prominent Russian Bank has banned all cash withdrawals until next week…

Bloomberg reports that ‘My Bank’ – one of Russia’s top 200 lenders by assets – has introduced a complete ban on cash withdrawals until next week. While the Ruble has been losing ground rapidly recently, we suspect few have been expecting bank runs in Russia.

Yes, we have heard some reports of people having difficulty getting money out of their banks around the world lately, but this news out of Russia really surprised me.

Yet another story that seemed rather odd was a report in the Wall Street Journal earlier this week that stated that Germany’s central bank is advocating “a one-time wealth tax” for European nations that need a bailout…

Germany’s central bank Monday proposed a one-time wealth tax as an option for euro-zone countries facing bankruptcy, reviving a idea that has circled for years in Europe but has so far gained little traction.

Why would they be suggesting such a thing if “economic recovery” was just around the corner?

According to that same article, the IMF has recommended a similar thing…

The International Monetary Fund in October also floated the idea of a one-time “capital levy,” amid a sharp deterioration of public finances in many countries. A 10% tax would bring the debt levels of a sample of 15 euro-zone member countries back to pre-crisis levels of 2007, the IMF said.

So what does all of this mean?

I am not exactly sure, but I have got a bad feeling about this – especially considering the financial chaos that we are witnessing in emerging markets all over the globe right now.

So what do you think?  Please feel free to share your thoughts by posting a comment below…

3 thoughts on “Why Are Banking Executives In London Killing Themselves?

  1. Personally, I think we have had a crash, and that they are masking it with lies, twisted statistics and outright propaganda. Ross Perot (whom I supported for president and was one of the folks instrumental in getting his name on the ballot in CA) warned us in the early 1990s…..globalization will create a sucking of jobs and wealth out of this country that will never be replaced. He was spot on.
    The original crash was in 2001…..I lost a lot. They rebuilt a bubble in real estate, and just about the time I thought I had regained most of my losses……..2007-08 happened. Since 2001, jobs have been disappearing at the rate of 150K jobs a WEEK. Those weekly jobless claims are new jobless claims, not old ones….they never count them again. As soon as possible, they drop them out of the statistics of the unemployed, and keep pushing the numbers down……regardless they are continuing every week.
    This is Thursday, the jobless numbers for the week are out again today……if you can find them. If you are not on Bloomberg at 7AM PT, you won’t get them at all. I bet they are at least 150K. This has continued every week for the past 14 years…….this is 2014.
    I talked to a friend of mine who was just laid off at Amazon. Amazon has taken over the traffic the post office used to enjoy at Xmas. Today, people shop on Amazon and they do the shipping…..while the post office no longer hires full time workers. He got a 2 month job for the holiday. For every job, he says 100 people show up……it is unbelievable!
    We have 100 million unemployed working age people. We have a population of 330 million. That means our real unemployment rate is 33%…..not seven.
    They keep telling lies, and what is happening is that nobody believes them. Once a nation and it’s government loses all credibility…..it has lost all its value.
    This morning, at 5AM, I turned on the news to find a weather report….we are desperate for rain here in CA. I got the weather report, and every other station, including the financial were covering the super bowl…..that is ALL.
    No word on the bankers suicide in Europe, no word of any truth, just junk. I turned it off, it is insulting to watch.
    The stock market is nearly empty of real cash…..that is why Obama is pushing a new kind of bond for retirement…..85% of the stock market is skim and sell…only 15% is comprised of real investors…..and we don’t know how many of them are playing on margin.
    They have a very few people controlling the stock market…and that is the only reason it has not crashed….it is empty, and they are keeping it afloat with side bets, insurance scams, and outright lies……the market is already gone.
    Interest rates are going up all over Europe, and will quickly follow here. Any housing recovery (it was a sham) is gone. It never existed in the first place. The only people getting houses are bankers, and the redistribution of wealth has plundered and destroyed this economy for good.
    Because we are in a global sewer called a global economy, we are no longer immune to panics and rate hikes around the world.
    We used to be the world reserve currency until we so abused our status that technology found an alternative in electronic currencies, making a reserve currency obsolete.
    Had the US been credible, cleaned up after the 2007-08 disaster, prosecuted and jailed the offenders, we might still have premium status. But, we have criminals in charge, and the world has found a way around the US and the dollar. In Jan, 2010, 100% of all international trades were completed in dollars. In Jan, 2014, 50% of international trades are completed in dollars, and the number continues to drop like a stone. Soon, we will be sitting on top of pile of US dollars nobody wants……our currency is already losing value. Go to the grocery store.
    Meat and chicken prices have tripled since 2010, fresh fruit has tripled. Roasted chicken has better than doubled…….the price hikes are amazing. I was able to access some old prices and compare……..what a shock.
    Anyone who thinks the crash has not already happened is living in a dream world, or is in the top 1%.
    I never dreamed I would see the hunger and homelessness I see all around me…….and it is getting worse while congress continues to cut food stamps and benefits to the most needy.

  2. One other thing. Banks overseas are raising their interest rates to get deposits. Russia stopping cash withdrawals from it’s biggest bank for a week tells me the rush for real cash is on…….it has all been smoke and mirrors…….
    The world economy (using their numbers) generates $50-65 trillion a Year. The amounts of currency out there is in the quadrillions……..it is all on paper, there is nothing behind it but ink.
    A nation cannot put out more currency than what it generates in real wealth……otherwise, the currency becomes worthless. All of these banks, the FED, IMF, German banks……all have followed the FED lead, and currency amounts far exceed real money. Suddenly, people are asking for their money, and that is why the bank holiday in Russia might be just the beginning. Folks are waking up to the fact there is nothing behind the curtain………all credibility of all nations is gone. Without credibility, there cannot be a viable banking system, without a viable banking system, everything falls apart. That is why they have used these stupid and desperate measures to keep the lies alive.

  3. I’m sure all these bankers were committing yet more fraud and realized they are about to get caught in the act. Good riddance! I hope all their friends follow their example.

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