Another big banker "does himself in"
derryb
Posts: 36,824 ✭✭✭✭✭
Took his wife along for the ride. 15th this year. Those insurance policies that their employers carry on them must really be paying off.
JPM Global Network Operations Center Executive Director another casualty
JPM Global Network Operations Center Executive Director another casualty
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Just wondering, GrandAm
<< <i>Huh,,,,,,, anyone know how many doctors, lawyers, accounts, farmers and factory workers have done the same thing in this time frame?
Just wondering, GrandAm
Very correct....you need to know how many committed suicide(numerator) out of what population base(demominator) to come to any valid assessment.
Other than that itis all meaningless.
Number of deaths for leading causes of death
Heart disease: 597,689
Cancer: 574,743
Chronic lower respiratory diseases: 138,080
Stroke (cerebrovascular diseases): 129,476
Accidents (unintentional injuries): 120,859
Alzheimer's disease: 83,494
Diabetes: 69,071
Nephritis, nephrotic syndrome, and nephrosis: 50,476
Influenza and Pneumonia: 50,097
Intentional self-harm (suicide): 38,364
<< <i>You forgot the iatrogenic death rate. It is in the 200,000 range. >>
225,000 deaths per year
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Knowledge is the enemy of fear
<< <i>Im really worried for my buddy at JPM. >>
And they don't even have to tell him if he is insured by them and for how much.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Im really worried for my buddy at JPM. >>
Local guy here last year, who used to be financially well off, suddenly loss it all and hunted down his family in there own home and killed em all and himself.
<< <i>Interesting, but not significant without comparative analysis..... Cheers, RickO >>
He is as dead as 100% of the others.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>fifteen replies an no conspiracy theories? What is this forum coming to? >>
More street wise?
<< <i>fifteen replies an no conspiracy theories? What is this forum coming to? >>
<< <i>More street wise?
More conditioned.
Fact - Bank executives, as are many corporate execs, are insured by their employers and the employer collects on the policy, enjoying tax breaks on the proceeds. Efforts by news media to get the dollar numbers involved have been met with judges siding with the banks that it is "proprietary inside information" and can be kept secret. The insured and even the deceased's family are not even required to be notified of the policy's existence or its payout. It's a "secret" bet between the employer and the insurance company with the employer betting on death.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>fifteen replies an no conspiracy theories? What is this forum coming to? >>
<< <i>More street wise?
More conditioned.
Fact - Bank executives, as are many corporate execs, are insured by their employers and the employer collects on the policy, enjoying tax breaks on the proceeds. Efforts by news media to get the dollar numbers involved have been met with judges siding with the banks that it is "proprietary inside information" and can be kept secret. The insured and even the deceased's family are not even required to be notified of the policy's existence or its payout. It's a "secret" bet between the employer and the insurance company with the employer betting on death. >>
So what? Maybe I have a life insurance policy on you.
Havent we shown that 1000s of companies carry life insurance on their employees and that this practice has been going on since the 1970's?
Citigroup made $3.9 billion. How much of that was a "tax break" on insurance policy proceeds?
I wonder how much the post office has made on its employees? Thats probably why postal employees go "postal". They are forced to kill other employees then themselves. Its not like the PO doesnt have motive. LOL
Knowledge is the enemy of fear
Assuming the recent rash in banker deaths is in fact undisputable suicide, is it still not quite possible that JPM and its fellow banks, with their history of questionable investments, have, with the right life expectancy and risk calculations, found a lucrative and tax free profitable stream of revenue? Given JPM's history, I'm suggesting that an entire corporate office exists with the sole purpose of determining which employees make the best life insurance "investment," processing and managing these "investments," and managing (reinvesting) the tax free proceeds from the "investment" payouts. While certainly not illegal (thus disqualifying it from being a "conspiracy"), I'm suggesting that the size and extent of this profitable "market" puts it right alongside the many other shady JPM investment actions.
Because the courts side with the secrecy of this "proprietary" information, we will not know the size and impact of this investment scheme until a good investigative reporter (Matt Taibbi?) succeeds in getting the inside scoop on what lies behind the curtain.The fact that the banks have have spent big dollars (legal/court expenses) to label this information "proprietary" speaks volumes of what their employee life insurance program is to them. Another question that needs be asked is "at what dollar profit amount does a beneficiary consider expediting an early death of the insured?" - something that happens often in "private" America. Given their track record, is "corporate banking" America really any less capable?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
<< <i>I didn't know that insurance companies paid off life insurance when the cause of death is ruled as a suicide. >>
Depends on the policy, and often times how long the policy has been in affect. I would think a company "protecting" itself from death of a key employee would want the widest coverage possible. My $500K policy covers it, but I dare not tell the wifey.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Maybe they have. JPM is going to do about $100 billion in revenues this year. How much of this is attributed to life insurance policies? If lets say that JPM benefited to the tune of $10,000,000 on 15 people, that would represent 0.15% of JPMs revenues. Like we have discussed before, this corporate program is has been used by 1000's of companies over the last 40 years. To suggest that JPM is purposely killing off its employees to add 1/10 of 1% to its revenues is quite a stretch.
Knowledge is the enemy of fear
•MVD (Motor Vehicle Department Records)
•MIB (Medical Insurance Bureau)
• RX (Pharmacy Records)
'
How is this not an invasion of someones's private personal information when that person does not request the life insurance.
Box of 20
I knew it would happen.
<< <i>is it still not quite possible that JPM and its fellow banks, with their history of questionable investments, have, with the right life expectancy and risk calculations, found a lucrative and tax free profitable stream of revenue?
Maybe they have. JPM is going to do about $100 billion in revenues this year. How much of this is attributed to life insurance policies? If lets say that JPM benefited to the tune of $10,000,000 on 15 people, that would represent 0.15% of JPMs revenues. Like we have discussed before, this corporate program is has been used by 1000's of companies over the last 40 years. To suggest that JPM is purposely killing off its employees to add 1/10 of 1% to its revenues is quite a stretch. >>
Only questioning the possibility, after all there is motive. But I am categorically stating that they, and other banks, are profiting handsomely from the deaths of their empolyees, former employees and retirees. Below article is from 2009, with the insurance coverage numbers likely to have increased in the past five years.
WSJ (2009): Banks Use Life Insurance to Fund Bonuses
"Banks are using a little-known tactic to help pay bonuses, deferred pay and pensions they owe executives: They're holding life-insurance policies on hundreds of thousands of their workers, with themselves as the beneficiaries. Banks took out much of this life insurance during the mortgage bubble, when executives' pay -- and the IOUs for their deferred compensation -- surged, and banking regulators affirmed the use of life insurance as a way to finance executive pay and benefits. Banks had a total of $122.3 billion in life insurance on employees at the end of 2008, nearly double the $65.8 billion they held at the end of 2004, according to a Wall Street Journal analysis of bank filings."
Then again, the article is on the internet and even if it is from the Wall Street Journal, being presented on the internet disqualifies it legitimacy.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Do these policies cover nailgun suicides as well? >>
Drugs can make people do some crazy things. Or maybe this guy was seeing his secretary, or neighbors wife, and someone go jealous. Maybe it was murder. But to conclude JPM was behind it sounds kinda quacky to most people.
"Profiting handsomely" is relative. And the regulators approved the action, which has been practiced by other companies in other industries for decades. None of that means the banks are purposely killing their employees.
Knowledge is the enemy of fear
"Since December of last year, JPMorgan Chase has been experiencing tragic, sudden deaths of workers on a scale which sets it alarmingly apart from other Wall Street mega banks. Adding to the concern generated by the deaths is the recent revelation that JPMorgan has an estimated $180 billion of life insurance in force on its current and former workers."
"The Justice Department, the FBI, Congressional committees and the New York State Attorney General’s office are currently investigating if the stock and futures markets have been rigged by some Wall Street firms using high speed computer technology in conjunction with algorithms deploying artificial intelligence. The investigations gained momentum after bestselling author, Michael Lewis, brought details of the allegations to light in his new book, Flash Boys, and shared the allegations with millions of Americans in a March 30 appearance on Sixty Minutes."
Looks like computer technology workers at JPM run an unusually high risk of doing themselves in. Surely coincidental, must be the stress of making so much money.
<< <i>And the regulators approved the action, >>
Well that sure makes everything on the up and up.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Do these policies cover nailgun suicides as well? >>
Drugs can make people do some crazy things. Or maybe this guy was seeing his secretary, or neighbors wife, and someone go jealous. Maybe it was murder. But to conclude JPM was behind it sounds kinda quacky to most people.
"Profiting handsomely" is relative. And the regulators approved the action, which has been practiced by other companies in other industries for decades. None of that means the banks are purposely killing their employees. >>
Sadly, my paranoid relative would disagree with you.
Knowledge is the enemy of fear
LINK
<< <i>Lots of paranoid people disagree with me.
Just because you're paranoid, doesn't mean they aren't after you
LINKY
<< <i>Citigroup executive, 42, found dead in the bathtub of his Manhattan apartment with his throat cut
LINKY >>
Sounds like a murder.
Knowledge is the enemy of fear
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
<< <i>Citigroup executive, 42, found dead in the bathtub of his Manhattan apartment with his throat cut
LINKY >>
Sounds like a murder.
NY Daily News-slashed his own throat in Manhattan bathtub during drug- and booze-filled bender
Well then, he did an outstanding job of hiding the blade after he slashed his own throat.
I knew it would happen.
<< <i>Does anyone statistically if more bankers or stackers have a higher suicide rate? I know a few PMers who want to jump from their stacks. Trying to talk them down.
MJ >>
There will be more stackers in pain soon.
This is just a pause— someone pushed a button on the elevator down. A few got on, a few got off, but the rest are going lower.
Now, I knew a guy whose wife was in corp fin. She left after the gov started laying the smack down. She said it "wasn't fun any more."
The point is this: bankers with a conscience should not kill themselves, they should rat on the ones who actually thought some level of monkey business was "fun."
<< <i>Does anyone statistically if more bankers or stackers have a higher suicide rate? I know a few PMers who want to jump from their stacks. Trying to talk them down.
MJ >>
I'll tell ya what, I'd much rather jump from my scrawny stack than from a Fat Cat corner office in a Manhattan highrise. Now, jump from Silver Baron's stack? Naw, I'd have a big big boo boo then...........
Too many positive BST transactions with too many members to list.
<< <i>Just a side notes. The titles like "Executive Director" or "Vice President" mean nothing in Wall Street banks, especially in IT. These are just small fries, they don't mean much from conspiracy point of view. >>
Good point. Every Merrill Lynch office had at least a handful of VP's.
2) Tim Dickenson, a U.K.-based communications director at Swiss Re AG
3) William Broeksmit, 58, former senior manager for Deutsche Bank
4) Ryan Henry Crane, age 37, JP Morgan
5) Li Junjie, 33, Hong Kong JP Morgan
6) Gabriel Magee, 39, age JP Morgan employee
7) Mike Dueker, 50, who had worked for Russell Investments
8) Richard Talley, 57, was the founder and CEO of American Title (real estate titles)
9) James Stuart Jr. 70, Former National Bank of Commerce CEO was found dead in Scottsdale, Ariz
10) Jason Alan Salais, 34 year old IT Specialist at JPMorgan since 2008
11) Autumn Radtke, 28, CEO of First Meta, a Singapore-based virtual currency trading platform
12) Eddie Reilly, 47, investment banker, Vertical Group, New York
13) Kenneth Ballando, 28, investment banker, Levy Capital, New york
14) Joseph A. Giampapa, 55, corporate bankruptcy lawyer, JP Morgan Chase
15) Jan Peter Schmittmann, 57, voormalig topbestuurder ANB/AMRO, Laren, Nederland
16) Juergen Frick, 48, CEO Bank Frick & Co AG, Liechtenstein
17) Benoît Philippens, 37, directeur BNP Parisbas Fortis Bank, Ans, België.
18) Lydia…, 52, bankier Bred-Banque-Populaire, Parijs
19) Andrew Jarzyk, 27, bankier, PNC Bank, New York
20) Carlos Six, 61, Hoofd Belastingdienst en lid CREDAF, België
21) Jan Winkelhuijzen, 75, Commissaris en Fiscalist (voormalig Deloitte), Nederland.
22) Richard Rockefeller, 66, achterkleinzoon elitebankier John D. Rockefeller, Amerika
23) Mahafarid Amir Khosravi (Amir Mansour Aria), 45, bankeigenaar, zakenman en derivatenhandelaar, Iran
24) Lewis Katz, 76, zakenman, advocaat en insider in de bancaire wereld, Amerika
25) Julian Knott, Directeur Global Operations Center JP Morgan, 45, Amerika
26) Richard Gravino, IT Specialist JP Morgan, 49, Amerika
27) Thomas James Schenkman, Managing Director Global Infrastructure JP Morgan, 42, Amerika
28) Nicholas Valtz, 39, Managing Director Goldman Sachs, New York, Amerika
29) Therese Brouwer, 50, Managing Director ING, Nederland
30) Tod Robert Edward, 51, Vice President M & T Bank, Amerika
31) Thierry Leyne, 48, investeringsbankier en eigenaar Anatevka S.A., Israël
32) Calogero Gambino, 41, Managing Director Deutsche Bank, Amerika
33) Shawn D. Miller, 42, Managing Director Citigroup, New York, Amerika
34) Melissa Millian, 54, Senior Vice President Mass Mutual, Amerika
35) Thieu Leenen, 64, Relatiemanager ABN/AMRO, Eindhoven, Nederland
36) Geert Tack, 52, Private Banker ING, Haaltert, België
"Information has now emerged that Millan had access to highly sensitive data on bank profits resulting from the collection of life insurance proceeds from her insurance company employer on the death of bank workers – data that a Federal regulator of banks has characterized as “trade secrets. . .Millan was among a limited group outside of Federal regulators who was in a position to have broad data on the death benefit claims being submitted by multiple banks. ”
Loose end?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Just too much weird stuff that nobody ever has to account for. Anything goes, I suppose - as long as you have insiders.
I knew it would happen.
20) friend of Carlos Danger?
<< <i> What's the legal rationale' for the regulators classifying of banking industry insurance payouts on executive deaths as a trade secret? >>
Just guessing, they might consider the life insurance package they give as part of their total compensation.
They don't want other banks or other employees to see how much they get in compensation.
<< <i>
Fact - Bank executives, as are many corporate execs, are insured by their employers and the employer collects on the policy, enjoying tax breaks on the proceeds. Efforts by news media to get the dollar numbers involved have been met with judges siding with the banks that it is "proprietary inside information" and can be kept secret. The insured and even the deceased's family are not even required to be notified of the policy's existence or its payout. It's a "secret" bet between the employer and the insurance company with the employer betting on death. >>
The same people making decisions about their health care stand to profit if they die.
The judges should be in jail along with many of the surviving bankers.