what does it mean? bankers committing suicide

not since the great depression...with yet another suicide this week on Tuesday some are saying 4...7...20 deaths...here is the article about Tuesdays death...this was the second at the same bank within a few weeks...I will post the other articles as well...

An employee of JPMorgan fell to his death in Hong Kong Tuesday, the second apparent suicide at the bank in a matter of weeks.

Police said the 33-year old man jumped from the top of JPMorgan's regional headquarters in the city's central business district. He was pronounced dead at a nearby hospital at 2:30 p.m.





The death of the Hong Kong resident was being treated as a suicide, police said, adding that they were investigating pressure of work as a possible motive.

JPMorgan (JPM, Fortune 500) confirmed that a "tragic incident" had taken place at its offices in Chater House, where it occupies the top 10 floors.

"Out of respect for those involved, we cannot comment further," the company said in a statement. "Our thoughts and sympathy are with the family that's involved at this difficult time."

A source at the bank said the man -- identified by police only by his surname, Li -- was a junior employee.

Late last month, the U.S. bank confirmed an employee died after falling from its 33-story tower in London's Canary Wharf financial district.

Related story: Making 6 figures on Wall Street, but life stinks

Gabriel Magee was 39 and worked at the investment bank's technology arm.

London police said at the time that they were treating the death as "non-suspicious." An inquest has been set for May.

A third JPMorgan employee suffered an untimely death earlier this month.

Ryan Crane, 37, an executive director in the Global Equities Group in the bank's New York office, was found dead in his suburban home on Feb. 3.

A spokeswoman for the chief medical examiner of Connecticut said the cause of death was still under investigation.

-- CNNMoney's Chris Isidore and CNN's Vivian Kam contributed reporting.

 

The financial world has been rocked over the past few weeks as seven bankers have died, several of those committing suicide.

In an unsettlingly short span of time, bankers from disparate corners of the world have taken their lives by way of jumping off of office buildings and other means. The latest death occurred in Hong Kong this week.

Quick Succession

The rapidity of the financial world’s death toll is reason for pause.

Two days ago, an “unidentified Chinese male in his thirties” jumped off of the JP Morgan headquarters, the Chater House, in Hong Kong. He was a junior employee, uninvolved in investment activity. According to Reuters, colleagues recall him complaining of work-related stress.

Prior to this, two other JP Morgan employees also died prematurely: Ryan Crane, of Stamford, Connecticut, was found dead in his home on February 3rd and is believed to have taken his own life. Just a few days before Crane was found, Gabriel Magee, a vice president in technology operations at JPM, jumped off the roof of the company’s London headquarters, according to Bloomberg News.

Unfortunately, the list continues, with employees from the wider financial world. William Broeksmit, a senior manager for Deutsche Bank, hanged himself on January 26th; Karl Slym, a managing director at Tata Motors, was found dead in his hotel on January 27th; Mike Dueker, an economist at US firm Russell Investment, was found dead on the Tacoma Narrows Bridge on January 29th and is alleged to have taken his own life; and Richard Talley, the founder of American Title Services, died of a seemingly self-inflicted nail gun wound early in February.

Why suicides now?

Unfortunately, there’s little information to help us understand or make sense of these individual banker deaths, so the financial world is left hurting and wondering how to stop this trend.

That said, some observers have suggested that the combination of investment banking’s high-stress work environment and the global financial crisis are behind the suicides.

Because banking regulations have tightened considerably over the last few years, some of the front-line sales stress has spread to back offices. For instance, in New York, banks have been required to pull together a mass of documents needed to probe into trading practices in the foreign exchange market, raising the demands on all employees.

Additionally, as regulations around the country and world have tightened, traders have been fired while banks have faced severe penalties.

According to Reuters, JP Morgan and Deutsche Bank, among other financial institutions, attempted to adjust the international interest rates known as Euribor and Libor, effectively taking money out of customers’ pockets for the bank’s profit. JPM was fined a record $4 billion for what was called “pre-crisis cheating,” while Deutsche Bank was fined $1.93 billion.

Of course, for many, increased transparency and fairness is banking is an important goal, and the tightened regulations are a means of fostering that.

However, the paradigm shift may be coming down especially hard on employees who were not previously in high-stress positions or, alternatively, on those who face responsibility for some of the financial world’s wrongdoings over the last decade.

As financial institutions adjust to new regulations and recover from the recession, we can hope that the recent rash of banker suicides has come to an end.

 

Two high-profile and high-up American bankers in London have killed themselves in separate incidents that took place within a couple days of each other.

Gabriel Magee, 39, a senior manager at JP Morgan, jumped 500 feet to his death Tuesday from the top of the bank’s European headquarters, the Daily Mail reported. Responders found his body on the roof that encircles the outside of the ninth floor.

On Sunday, another American bank executive, William Broeksmit, 58, was discovered dead in his South Kensington home. Police ruled the death a suicide by hanging.

Mr. Broeksmit had retired a year ago from his senior-level position with the Deutsche Bank, the Mail reported.

“We are deeply saddened to have lost a member of the JP Morgan family at 25 Bank Street today,” a spokesman for JP Morgan said in an email to bank workers Tuesday. Our thoughts and sympathy with his family and his friends.”

One source who reportedly knew Mr. Magee well told the Mail that he had been in “good standing with his bosses and colleagues” and was “well liked.”

Scotland Yard was dispatched to the scene, but is not regarding the incident as foul play.


Read more: http://www.washingtontimes.com/news...-bankers-commit-suicide-london/#ixzz2u069oWqn
Follow us: @washtimes on Twitter

 

I am not a big conspiracy theorist type of person but I am very concerned about what this might mean...curious to know if anyone here follows the financial markets closely enough that this has also hit your radar:smt102

 

This very topic was discussed last night on the syndicated show COAST TO COAST AM.
Here is a recap....

Banker Deaths

In the first half, former commodities trader and "guerrilla economist," V, talked about the recent mysterious deaths of bankers, including three who worked at JPMorgan.

According to his sources, there are some 20 dead bankers, and some of the deaths appear to be connected. Two of the JPMorgan bankers that recently died (Gabriel Magee, 39, and Ryan Henry Crane, 37) had similar executive positions, and may have been looking at the same spreadsheets, V conjectured. "They uncovered something that was so heinous, so incredible, that if it were to get out, you would see a massive amount of reprisals...and people getting arrested or thrown in jail...So this is a 'clean house' method being perpetrated before our eyes," he continued.

He suggested that the deaths might be connected to a massive $2 billion loss incurred by JPMorgan trader Bruno Iksil in 2012 involving credit default swaps, a huge manipulation going on in the precious metals market, and fraud involving Libor (London interest rate) and Forex (currency market). views the bankers' deaths as a harbinger of an economic implosion, and believes they're being murdered, with a "scripted" suicide story placed as a cover-up.

http://www.coasttocoastam.com/show/2014/02/20


_V's Biography:

"V" is a "guerrilla economist" who has worked for some of the top commodity trading firms and investment banks. He also contributed to private think tanks that help create investment policy. His track record is uncanny and well documented on his appearances with Steve Quayle and Doug Hagmann. V predicted with pinpoint accuracy the play by play of the Eurozone crisis, he was the first to warn about Japan's disastrous economic policies and how this would be the domino that would gravely affect the global economy.

http://roguemoney.net/

 

Given the type of sleazy con game shit that JP Morgan has been involved with, I hope that the conspiracy theories about these suicides being vigilante justice in disguise are true.

 

Thanks for posting this. I hadn't heard much coverage on it. It could plausibly be suicide or retaliation. Knowledge of the impact of your actions (even if you personally played only a small part) can really hound your conscience. Remember how Bernie Madoff's son committed suicide once his father's actions came to light?

 

so the question is...how soon before we find out what JP morgan + additional banks around the world are covering up...let's just hope that it doesn't push us into another recession or heaven forbid a depression...

 

I'm still not convinced that the recession is 'over'. I can't shake the feeling that the stats are being 'juked'.

 

Then stock pile the hell out of bullets food and batteries, this is not a joke I am being serious as fuck right now.

 

Don't forget to bury the gold and silver in the backyard.

 

lol I know its easy to joke but we can see from the way things have been going and are going we are in for a market correction the likes of what we've never seen before and one thing I learned from Sandy is when the government fails you all you have is yourself and your loved ones. We have to prepare because what do you do if the banks fail and theres no money in your accounts, what happens when the grocery stores are bare and gas is through the roof. How will you survive Ches?

 

Steal from the neighbors.

 

lol you live in PA where gun laws are lax would you really take that chance lol

 

This story reminds me of the scene in Goodfellas when Tommy DiFiore began killing any and everyone who was involved with him in the Luftthansa heist to keep his own ass out of jail.

Dead men can't be given immunity by the Feds to testify against powerful men.:smt031

First of all, I'd like to know the rate of suicide in general among investment bankers to figure out if these deaths are within the statistical normal range for an investment bank like JP Morgan Chase, or if we're seeing cluster of 'suicides' that's unprecedented under normal circumstances.

I enjoy listening to coasttocoastam, but sometimes they hype a story when there isn't much there to begin with.

I will say this, if you think a top investment bank like JPM has NEVER contracted to have someone killed throughout their history, IMO you're being naive.

Most people I've met who work as traders for investment banks are a little amoral and the thought of breaking SEC rules doesn't really bother most of them. Their whole thing is about getting that six-seven figure bonus and making more money for the bank.

What might bother my conscience won't get the same response from someone who's been in that business for years.

Thanks for the post Ches. I'll be following this story closely, although I doubt we see much coverage in the mainstream media.

To bring down a financial monster like JPM, an insider has to come forward and talk. There's really no other way to do it in today's financial and political environment.

 

If someone talks do you think anyone would listen?

 

*(AndreB, it was Lippy who posted the thread/topic.)

Like most top politicians of both parties who cater to the lobbyists, many of the Rich and powerful don't believe in their psych that they are one of us or even share the same space, it's them and then it's lowly sheeple, peon us...

Did anyone hear the other day, about the NYT reporter who infiltrated a Wall Street Banker secret Society bash and wrote about it?

What I Saw When I Crashed a Wall Street Secret Society: One-Percent Jokes and Plutocrats in Drag

Here's a lil glimpse..

"I’d heard whisperings about the existence of Kappa Beta Phi, whose members included both incredibly successful financiers (New York City's Mayor Michael Bloomberg, former Goldman Sachs chairman John Whitehead, hedge-fund billionaire Paul Tudor Jones) and incredibly unsuccessful ones (Lehman Brothers CEO Dick Fuld, Bear Stearns CEO Jimmy Cayne, former New Jersey governor and MF Global flameout Jon Corzine). It was a secret fraternity, founded at the beginning of the Great Depression, that functioned as a sort of one-percenter’s Friars Club...



..the fraternity’s motto, “Dum vivamus edimus et biberimus,” was Latin for “While we live, we eat and drink.”

On cue, the financiers shouted out in a thundering bellow: “DUM VIVAMUS EDIMUS ET BIBERIMUS.”

The only person not saying the chant along with Ross was me — a journalist who had sneaked into the event, and who was hiding out at a table in the back corner in a rented tuxedo.


• Warren Stephens, an investment banking CEO, took the stage in a Confederate flag hat and sang a song about the financial crisis, set to the tune of “Dixie.” (“In Wall Street land we’ll take our stand, said Morgan and Goldman. But first we better get some loans, so quick, get to the Fed, man.”)



...“Who the hell are you?” Novogratz demanded.

I felt my pulse spike. I was tempted to make a run for it, but – due to the ethics code of the New York Times, my then-employer – I had no choice but to out myself.

“I’m a reporter,” I said.

Novogratz stood up from the table.

"You’re not allowed to be here," he said.

I, too, stood, and tried to excuse myself, but he grabbed my arm and wouldn’t let go.

“Give me that or I’ll fucking break it!” Novogratz yelled, grabbing for my phone, which was filled with damning evidence. His eyes were bloodshot, and his neck veins were bulging. The song onstage was now over, and a number of prominent Kappas had rushed over to our table. Before the situation could escalate dangerously, a bond investor and former Grand Swipe named Alexandra Lebenthal stepped in between us. Wilbur Ross quickly followed, and the two of them led me out into the lobby, past a throng of Wall Street tycoons, some of whom seemed to be hyperventilating...


The 2012 inductees ^

 

The Canary Wharf guy was a Technology senior manager in charge of the software that predicts trends in the financial market, to me that is not a good sign at all.
He either got something very very wrong only to become apparent in the future or got something right and it all looked a bit shit.

I can only imagine what pressure people like this are under, my cousin had a boyfriend once that worked in the same thing at HSBC.... as a minion.... not a manager or anything and he was pretty highly strung.

 

Anyone who can testify before Congress in a televised subcommittee hearing and tell the American public where all the bodies are buried would force the POTUS, DOJ, Congress and the SEC to either act in unison or risk a public revolt.

Nobody on Capitol Hill wants to see a REAL Tea Party movement that isn't a neo-conservative group in disguise.

 

You're not that naive, right?

How many testified on the banking and investments scams already, and how many has Obama and the DOJ arrested and prosecuted thus far? ZERO.

Whistleblower Snowden? Had to flee for his life.

This country is too stoned to revolt, anyhow.

Billionaire assholes stealing more billions of dollars we won't ever see (that were designated for us peons, btw)... meh, what else is on TV tonight?


You want to see a sudden revolt? Shutdown the Govt assistant checks/food stamp access, and 70 million Americans will mobilize and march to Washington within 24 hrs!!! :axe: