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Prematurely Evacuating The Tispanic?
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.
- BANK OF SPAIN GOVERNOR TO LEAVE ROLE ONE MONTH EARLY
- ORDONEZ TO LEAVE ON JUNE 10
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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Heads will roll.
Bad
No they won't.
In Spain, they just might.
These crazy bastards run in the streets with pissed off bulls.
all the better for america ... everyone will buy dollars!
451F.
In teh long run yes
julie christie!
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 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...
I prefer the idea of tying 4 bankers' legs to the bull's and watching that run downslope faster than a Facebook IPO.
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...
Who marked this down? Why? It's funny because it is what these bastards have said in the past.
All bulls should be pretty pissed off by now. Bears too!
QUIT PROPPING IT UP YOU LOUSY BASTARDS!
Run in the street with pissed-off bulls? No. Make him spend the night in a cave full of bears.
We are long past canaries in coal mines. The fleas will flee to the Canaries.
And he was seen booking a flight for Switzerland.....
He gonna marrry a brazilian girl fast.
No extradition with any country if you are brazilian
The captain always goes down with ship, except in politics and high finance.
Or if you are an Italian Cruise Ship Captain.
Hmm, wonder if the Captn has come up with a better excuse yet...
"...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.
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.
Temporarily.
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.
Take the money and run.
Hold your ass, shit's about to get real.
"Run" out of the bank
To make room for a Goldmanite Deluxe
He wants his severance to clear.....
Bullish
Rats off the ship!
I,m back on land, in fact in the mountains
Get out before the collapse
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
Do you expect the people actually spending Spain into oblivion to take responsibility?
Tripped and fell into the lifeboat...
Two weeks notice, you have to give more if you work on a rubbish tip.....hold on a minute
I might have to get the popcorn and folding chair out early this week.
Does Spain belive in "clawbacks" of pay and bonuses?
He probably bought FB with the money.
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.
It's all that fucking Egan Jones' fault - everything was fine in Spain until they went and downgraded them. /sarc
You don't need the /sarc tag. We all get it.
That's the problem with modern "politicians." When they are responsible for a problem, they are not held accountable.
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.
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 .
They know more than we do about the risks the banks are facing...
Get your money out of the bank, people.
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.
Bullish.
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.
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.
like flushing rats out of a hole with water, turn the water on and watch them run for their lives
sounds like a teenage personal issue
or maybe pulling out of a steamy affair with your latino girlfriend...
that's odd...Wapner, the bullhole lick, isn't reporting this on CNBS.
Costa Concordia Captain maneuver; jump ship before the Women, Children, and anyone else on board.
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!)"
I wish it was illegal for bankers to own gold.
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.
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.
Buying land in the country you just screwed may not be the best strategy going forward...
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.
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!
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
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!
Just wait until Jamie jumps ship and heads for parts unknown...
turns out his wife was one of the Barcelona Dolphins buying the London Whale counter trade.....
Source?
run!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Last one to leave, blow out the candles
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.
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.
Examples:
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.
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
There is a vacancy opening up at the Bank of England - he sounds like he's the man
This must all be very bullish news, judging by the Dow and S&P.
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!
Guess he's expecting collapse shortly after the 10th.
it could mean greece leaving euro on june 18th
Mark it to fantasy, bitches!