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Prematurely Evacuating The Tispanic?

Tyler Durden's picture


First it was the CEO of Bankia whose departure via Golden parachute seems incredible in its absolute lack of shame; and now, as Bloomberg reports, Miguel "Mafo" Ordonez - the Governor of the Bank Of Spain - has resigned - with 2 weeks notice.


Did he maybe find some unmissable Costa Del Sol real estate opportunities forcing him to get out of dodge just that much earlier? If so, could he maybe spread the love and give everyone else the hot tip (aside from Spanish taxpayers of course)?



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Tue, 05/29/2012 - 12:42 | 2472175 Aziz
Aziz's picture

Heads will roll.

Tue, 05/29/2012 - 12:46 | 2472202 markmotive
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Tue, 05/29/2012 - 12:47 | 2472205 mberry8870
mberry8870's picture

No they won't.


Tue, 05/29/2012 - 12:49 | 2472213 Comay Mierda
Comay Mierda's picture

In Spain, they just might.

These crazy bastards run in the streets with pissed off bulls.

Tue, 05/29/2012 - 12:52 | 2472235 Arius
Arius's picture

all the better for america ... everyone will buy dollars!

Tue, 05/29/2012 - 12:58 | 2472257 Winston Churchill
Winston Churchill's picture


Tue, 05/29/2012 - 13:15 | 2472358 Joe The Plumber
Joe The Plumber's picture

In teh long run yes

Tue, 05/29/2012 - 13:19 | 2472388 falak pema
falak pema's picture

julie christie!

Tue, 05/29/2012 - 12:54 | 2472246 butchee
butchee's picture

Pamplona three legged races where the banker's left leg is tied to the right leg of the Treasury official....hilarity ensues

Tue, 05/29/2012 - 13:38 | 2472497 Jonas Parker
Jonas Parker's picture

Pamplona three legged races where the banker's left leg is tied to the right leg of the Treasury official....hilarity ensues

Pamplona three legged races where the banker's left leg is tied to the left leg of the Treasury official....hilarity ensues


There, I fixed it for you...

Tue, 05/29/2012 - 14:22 | 2472719 SilverRhino
SilverRhino's picture

I prefer the idea of tying 4 bankers' legs to the bull's and watching that run downslope faster than a Facebook IPO.



Tue, 05/29/2012 - 13:06 | 2472284 Sudden Debt
Sudden Debt's picture

Nono, the man just wants to quit his job because he wants to spend more quality time with his family...

fraud and incompetence have nothing to do with it...


Tue, 05/29/2012 - 13:10 | 2472330 MsCreant
MsCreant's picture

Who marked this down? Why? It's funny because it is what these bastards have said in the past.

Tue, 05/29/2012 - 13:09 | 2472313 MsCreant
MsCreant's picture

All bulls should be pretty pissed off by now. Bears too!


Tue, 05/29/2012 - 14:13 | 2472679 Stuck on Zero
Stuck on Zero's picture

Run in the street with pissed-off bulls?  No.  Make him spend the night in a cave full of bears.


Tue, 05/29/2012 - 12:48 | 2472212 sunaJ
sunaJ's picture

We are long past canaries in coal mines.  The fleas will flee to the Canaries.

Tue, 05/29/2012 - 13:09 | 2472317 battle axe
battle axe's picture

And he was seen booking a flight for Switzerland.....

Tue, 05/29/2012 - 13:16 | 2472372 Joe The Plumber
Joe The Plumber's picture

He gonna marrry a brazilian girl fast.

No extradition with any country if you are brazilian

Tue, 05/29/2012 - 13:14 | 2472347 eclectic syncretist
eclectic syncretist's picture

The captain always goes down with ship, except in politics and high finance.

Tue, 05/29/2012 - 13:35 | 2472481 Sauk Leader
Sauk Leader's picture

Or if you are an Italian Cruise Ship Captain.

Wed, 05/30/2012 - 01:03 | 2474257 StychoKiller
StychoKiller's picture

Hmm, wonder if the Captn has come up with a better excuse yet...

Tue, 05/29/2012 - 13:23 | 2472409 franzpick
franzpick's picture

"...whose departure via Golden parachute seems incredible in its absolute lack of shame."

Until you understand the depth of the corruption that needs to be kept hidden with surprising amounts of hush money paid to those no longer on the payroll. 

Tue, 05/29/2012 - 14:43 | 2472833 Nobody For President
Nobody For President's picture

Right. And Jon Corzine maybe didn't get a golden chute, but he is still walking around the streets a free man, so we can't trash Spain too much on this one - letting the rich walk is an international deal.

Tue, 05/29/2012 - 18:18 | 2473591 Papasmurf
Papasmurf's picture


Tue, 05/29/2012 - 19:23 | 2473713 Buck Johnson
Buck Johnson's picture

You don't leave such a good job like that unless the job isn't going to be too good in the very near future.  The rats are leaving the ship and want to make sure they have enough dinero to make it where ever they nest at.

Tue, 05/29/2012 - 12:42 | 2472177 midgetrannyporn
midgetrannyporn's picture

Take the money and run.

Tue, 05/29/2012 - 12:45 | 2472197 Stoploss
Stoploss's picture

Hold your ass, shit's about to get real.

Tue, 05/29/2012 - 12:42 | 2472182 SourNStout
SourNStout's picture

"Run" out of the bank

Tue, 05/29/2012 - 12:42 | 2472185 knukles
knukles's picture

To make room for a Goldmanite Deluxe

Tue, 05/29/2012 - 12:43 | 2472187 gatorengineer
gatorengineer's picture

He wants his severance to clear.....

Tue, 05/29/2012 - 12:43 | 2472189 Gypsyducks
Gypsyducks's picture


Tue, 05/29/2012 - 12:43 | 2472190 SheepDog-One
SheepDog-One's picture

Rats off the ship!

Tue, 05/29/2012 - 13:06 | 2472291 Ratscam
Ratscam's picture

I,m back on land, in fact in the mountains

Tue, 05/29/2012 - 12:43 | 2472191 surf0766
surf0766's picture

Get out before the collapse

Tue, 05/29/2012 - 12:43 | 2472192 Mitzibitzi
Mitzibitzi's picture

He just bought an island retreat, for a very reasonable price, from a nice cetacean-nicknamed man in London and plans to retire there?  ;-0

Tue, 05/29/2012 - 12:45 | 2472200 narnia
narnia's picture

Do you expect the people actually spending Spain into oblivion to take responsibility?

Tue, 05/29/2012 - 12:47 | 2472203 Henry Chinaski
Henry Chinaski's picture

Tripped and fell into the lifeboat...

Tue, 05/29/2012 - 12:47 | 2472208 tocointhephrase
tocointhephrase's picture

Two weeks notice, you have to give more if you work on a rubbish tip.....hold on a minute

Tue, 05/29/2012 - 12:47 | 2472210 papaswamp
papaswamp's picture

I might have to get the popcorn and folding chair out early this week.

Tue, 05/29/2012 - 12:48 | 2472214 Joebloinvestor
Joebloinvestor's picture

Does Spain belive in "clawbacks" of pay and bonuses?

Tue, 05/29/2012 - 12:49 | 2472219 q99x2
q99x2's picture

He probably bought FB with the money.

Tue, 05/29/2012 - 12:49 | 2472222 Dick Darlington
Dick Darlington's picture

Rats are jumping off the sinking ship that is Spain. Please, please, please, you idiot €-fanatics, KISS AND BREAK UP!!!! Your undemocratic political utopia has turned into dystopia. It's time to pull off the plug. For good.

Tue, 05/29/2012 - 12:50 | 2472226 Al Huxley
Al Huxley's picture

It's all that fucking Egan Jones' fault - everything was fine in Spain until they went and downgraded them. /sarc

Tue, 05/29/2012 - 13:37 | 2472494 j0nx
j0nx's picture

You don't need the /sarc tag. We all get it.

Tue, 05/29/2012 - 12:51 | 2472227 Patriot Eke
Patriot Eke's picture

That's the problem with modern "politicians."  When they are responsible for a problem, they are not held accountable.

Tue, 05/29/2012 - 12:50 | 2472228 monopoly
monopoly's picture

How is it possible Not to own gold or silver? What rational person thinks fiat currencies are the right way to invest. I cannot even imagine.

Tue, 05/29/2012 - 13:00 | 2472264 Abitdodgie
Abitdodgie's picture

Well yes look at Au /Ag dropping like a rock , Gold down about $30.00 in one day who would want that shit , BDI is sinking again (joke) get it sinking , nevermind. It is down to just over 1000 , so as everyone can see the world economy is about to go in the shitter even more, I will give it to Aug/Sept time , then last one to leave turn off the light .

Tue, 05/29/2012 - 12:51 | 2472232 carbonmutant
carbonmutant's picture

They know more than we do about the risks the banks are facing...


Tue, 05/29/2012 - 12:53 | 2472238 tekhneek
tekhneek's picture

Get your money out of the bank, people.

Tue, 05/29/2012 - 13:01 | 2472262 Dr. Engali
Dr. Engali's picture

I'm sure you meant to say get your bank credits exchanged for fiat then converted into gold and silver before it's to late folks. Since debt isn't money.

Tue, 05/29/2012 - 12:53 | 2472239 tu-ne-cede-malis
tu-ne-cede-malis's picture

How else are we to interpret this?


Tue, 05/29/2012 - 12:55 | 2472240 Peter Pan
Peter Pan's picture

All i know is that their golden handshakes should be in the form of surplus housing stock valued at its peak. Pretty soon all bankers will get the message that they will be obliged to wear the damage they themselves financed and encouraged.

Tue, 05/29/2012 - 14:31 | 2472773 JeffB
JeffB's picture

Of course I figure it's the central bankers who bear the vast majority of the responsibility. They're the idiots setting the interest rates and flushign the system with money. The "regular" bankers are pretty much along for the ride it seems to me. Of course, many are cheerleading and goading the central bankers into pushing ever more fiat into the system to goose it faster and faster to keep the bubbles they're blowing from deflating.

Tue, 05/29/2012 - 12:54 | 2472245 the 300000000th...
the 300000000th percent's picture

like flushing rats out of a hole with water, turn the water on and watch them run for their lives

Tue, 05/29/2012 - 14:01 | 2472247 bigdumbnugly
bigdumbnugly's picture
Prematurely Evacuating The Tispanic?


sounds like a teenage personal issue


or maybe pulling out of a steamy affair with your latino girlfriend...

Tue, 05/29/2012 - 12:55 | 2472248 LongSoupLine
LongSoupLine's picture




that's odd...Wapner, the bullhole lick, isn't reporting this on CNBS.

Tue, 05/29/2012 - 12:56 | 2472251 ebworthen
ebworthen's picture

Costa Concordia Captain maneuver; jump ship before the Women, Children, and anyone else on board.

Tue, 05/29/2012 - 13:39 | 2472502 Sauk Leader
Sauk Leader's picture

Gotta give credit to that Italian Coast guard guy laying into him on the radio.

"Listen Schettino, perhaps you have saved yourself from the sea but I will make you look very bad. I will make you pay for this. Go on board (Expletive!)"

Tue, 05/29/2012 - 12:58 | 2472259 silverserfer
silverserfer's picture

I wish it was illegal for bankers to own gold.

Tue, 05/29/2012 - 13:06 | 2472263 MsCreant
MsCreant's picture

Edited out my unoriginal obvious response.

Oh wait, so was the banker's response...unoriginal and obvious.

It would be original to stay and take responsibility. It would be original to not take any money because you knew you fucked up and it would be the wrong thing to do.

Tue, 05/29/2012 - 13:01 | 2472269 vh070
vh070's picture

If you read the release, he's advancing his retirement by one month to give his successor that period to prepare for the submission of the next plan.  Of the same old, same old.

Tue, 05/29/2012 - 13:08 | 2472300 carbonmutant
carbonmutant's picture

Buying land in the country you just screwed may not be the best strategy going forward...

Tue, 05/29/2012 - 13:58 | 2472554 Vince Clortho
Vince Clortho's picture

I understand New Zealand is a hot destination to get away from the noise and hustle of annoying street riots. "Retired" Bankers and Central Bankers agree it has the Real Estate Trifecta of Location, Location, and Location.

Also Has that additional bonus of being in the Southern Hemisphere where there is less Fukushima effect.


Edit:  Just checked to see who New Zealand has extradition treaties with.  In addition to the U.S., NZ has vestigial extradition treaties with most of Europe dating back to their colonial period.

Keep an eye peeled to see if anyone starts trying to change those agreements.

Tue, 05/29/2012 - 13:14 | 2472351 falak pema
falak pema's picture

I think this guy will be the first of a LONG list of bankers who will quit their jobs all over Eurozone, obviously with golden parachutes for sterling services to Eurogod and Country. 

Thataway the banksta cabal on both sides of the pond will be like two peas from the same pod, and one happy family reunited in retirement. As for the others, well you can all row row row your boats until hell freezes over. Over and out from the banksta coterie to the sheeple crowd! 

Tue, 05/29/2012 - 13:29 | 2472453 Joe The Plumber
Joe The Plumber's picture

You have to get out before they can prove you cooked the books, while it can still look like honest differences of opinion in accounting

Tue, 05/29/2012 - 13:35 | 2472479 falak pema
falak pema's picture

and, you'll get all the help you need until its too late for anybody in DC to get caught in bed with you. Crony capitalism has a time line shorter than the ZH motto!

Tue, 05/29/2012 - 14:34 | 2472788 Jonas Parker
Jonas Parker's picture

Just wait until Jamie jumps ship and heads for parts unknown...

Tue, 05/29/2012 - 13:16 | 2472352 mogul rider
mogul rider's picture

turns out his wife was one of the Barcelona Dolphins buying the London Whale counter trade.....

Tue, 05/29/2012 - 14:50 | 2472875 Nobody For President
Nobody For President's picture


Tue, 05/29/2012 - 13:15 | 2472367 mogul rider
mogul rider's picture


Tue, 05/29/2012 - 13:16 | 2472371 Freebird
Freebird's picture

Last one to leave, blow out the candles

Tue, 05/29/2012 - 13:26 | 2472414 Joe The Plumber
Joe The Plumber's picture

I had a job once where i had to do things that might appear fraudulent but i didnt have good options at the time. It was the kind of ambiguous business decisions which depends on judgment and intent as to fraud determination. .

No one knew for sure i was doing it except the director but she could pretend ignorance so we were safe and we never once discussed it

Once it reached the point that i knew she knew that i knew she knew and others in the company were suspecting it but dare not say anything because of fear of the company collapsing then i knew it was time to move On.

I was trapped in that job for varipus reasons but managed to get out. It may blow in two or three years but there is no proof i acted inappropriately. The next guy is the one going down.

Tue, 05/29/2012 - 13:56 | 2472575 MsCreant
MsCreant's picture

I am an academic. This is our existence. My colleagues do not, typically, own this. In private, one on one, a couple have agreed and grieved with me. As funding declines, the willingness to do things that are questionable becomes greater and greater.


  1. Buying stuff we don't need so that the funds will not be taken from us at the end of the fiscal year and will show up next year
  2. Ordering stuff we don't need to take advantage of "suddenly available grant money"
  3. Creating fictional "programs" and "initiatives" so that we can then "cut them" from our budgets to show that we really tightened our belts

I could go on (I would not tell you the much worse stuff here). The killer is, administrators don't see it as dishonest, they see it as survival. If caught, in public, they would chastise us for doing these things, in private they tell us we are stupid if we don't. I have complained in private about the dishonesty and been told I was naive. 

Tue, 05/29/2012 - 15:03 | 2472933 Nobody For President
Nobody For President's picture

Sounds like the military MS, at least in the old days when I was a CO - maybe it has changed. (hahahahahahahaha)

Bureacracy and budgets - same in large 'private' corporations - I remember being schooled in how to properly pump, er prepare, my expense account in the early days just out of college and the army. Even the large NGO non-profits play this game.

It is a mental corruption, small but significant, on a large scale in almost all large organizations - you are taught to, in effect, cheat (lie, steal - pick your word); and the people that stay wind up going along to get along. 

I found that honesty and financial efficiency is more likely to be found in small outfits. YMMV

Tue, 05/29/2012 - 13:41 | 2472510 Sandmann
Sandmann's picture

There is a vacancy opening up at the Bank of England - he sounds like he's the man

Tue, 05/29/2012 - 13:46 | 2472534 Vince Clortho
Vince Clortho's picture

This must all be very bullish news, judging by the Dow and S&P.

Tue, 05/29/2012 - 14:03 | 2472605 slewie the pi-rat
slewie the pi-rat's picture

costa del bull

maybe he'll get a nice check, too? 

the poor troika, tho!

aren't they still in greece?

da-ta-da! put a squid in madrid!

whom shall they send? 

tyler,  let's get a parimutuel started!  we need some "candidates";  somebody who speaks portuguese too, maybe? 

better hurry?  the tracks are out and the train's a-comin

nothing is real;  strawberry fields forever, BiCheZ!

Tue, 05/29/2012 - 14:35 | 2472793 flyme
flyme's picture

Guess he's expecting collapse shortly after the 10th.



Tue, 05/29/2012 - 14:46 | 2472850 Debugas
Debugas's picture

it could mean greece leaving euro on june 18th

Tue, 05/29/2012 - 15:56 | 2473167 Widowmaker
Widowmaker's picture

Mark it to fantasy, bitches!


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