ISDA CEO Stepping Down

Tyler Durden's picture

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YesWeKahn's picture

He is very affraid.

NewThor's picture

Lots of rats are jumping off lots of ships.

What is that stench I smell in the wind?


SheepDog-One's picture

Measures the shit-pressure in the can FEEL it!

Hard1's picture

Maybe his conscience kicked in an reminded him that it shouldn't even be debated if a 50% haircut is a credit event

Shitters_Full's picture

Handy site, that one.  Thanks.

SheepDog-One's picture

Shit hawks circling, swooping in low and shitting on people and dragging them back the the big shit nest....big, greasy, dirty shit hawks.

The shithawks are coming, Bubbles! - YouTube

Oh regional Indian's picture

It's the smell of rotting debt. 


Hephasteus's picture

He can get a job stamping Grade A on Grade D fit for human consumption meat.

HardwoodAg's picture

The pickel went up te poop shoot...It's really stinkin up the place

EL INDIO's picture

He must have resigned voluntarily with a gun to his head too.

ghostfaceinvestah's picture

I have met the man, and he seemed a decent guy.  His background is as a risk manager, not a trader.  My bet is he didn't agree with the decision and doesn't want to deal with the bullshit anymore.  He knows damn well it was a default, and knows equally well that sovereign CDS are now worthless.  But you can bet there was a ton of pressure to conclude no default.

Vergeltung's picture

what you say makes alot of sense.


Conrad Murray's picture

Seems they're in a Pickel over there.

No One's picture

What does he know? What is coming down the pipe?

Theosebes Goodfellow's picture

Exactly my thoughts, No1. In an extremely generous mindframe, you could think he'd had pangs of guilt for the fraud perpatrated on Greek CDS holders, but more than likely he too is seeing that the jig is up and that the future holds nothing but more bullsh*t "rulings" on credit events. You can hardly fault a man for not wanting to stand in front of the impellers when they are about to be subjected to the infusion of feces.

MarkTwainsMustache's picture

Haha, replaced by a Pickel


Mae Kadoodie's picture

ISDA gives head to Pickel?

Loose Caboose's picture

Now they have a Pickel up their ISDA...

Ecoman11's picture

This is boring. When do we start seeing CEOs thrown from helicopters?

topcallingtroll's picture

Yeah what a boring day. No riots. No collapse.

The highlight of my day so far was the shithawk video.

Star-Gazer's picture gotta be kidding!

Loose Caboose's picture

Ha, ha, ha..........he said Pickel.

Irish66's picture

Infectious Diseases Society of America, oops wrong abbreviation

Troy Ounce's picture



Well done, Mr Rickards, you sorted him out!

Bolweevil's picture

RC Whalen posted here yesterday too.

Dr. Engali's picture

The long knives are out.

Mercury's picture

I thought the ISDA Determinations Committee decides what constitutes a default or not? 

And that's still the case - no?

So what did the CEO do wrong in ISDA's eyes?

Comay Mierda's picture

he may be jumping ship before the lawsuit tsunami comes

SheepDog-One's picture

A Shitnami, and theyre all getting swept up in the undershit of that wave.

eatthebanksters's picture

waves of shit to go with wnds of shit...hmmm, the shit barometer must've detected a shittercane...

Mercury's picture

I think Reggie Middleton thinks lawsuits are imminent too but if the small print says the Committee calls the plays I'm not sure what the case is...

NotApplicable's picture

Small print is just words on paper. Judicial loyalty is what will determine where these lawsuits go (or don't).

J 457's picture

If only American politicians were resigning at the same pace as those in EU....

Nascent_Variable's picture

This move is clearly not a resignation event.  He's merely restructuring his work/life balance.

pelican's picture

He wants to spend more time with his family.

Nigh Eve's picture

He's going to be the new football coach at Penn State.

LawsofPhysics's picture


Why is ZH silent on the municiple bankruptcy proceedings in Alabama?  Where is Whitney these days anyway?