As Day Two of the Bankers’ Suicides story breaks, I have been hearing from people around the world with their thoughts and theories on why this happen.
A majority show their animosity for bankers saying greed and hubris are behind the acts.
I just don’t buy that. Remember a vast majority of the 2013-2014 suicides were committed by higher ranking executives, who survived the 2008 crash.
They saw their trading activity crash, their income slashed and their losses pile up. They endured the worst on a professional level, then the probes started.
Market regulators across the globe were looking into what went on, behind the scenes.
It was an archaic club of bankers doing things like rigging Libor to get better rates on a deal or two. Those rigging currencies or lending rates needed to fix the market to keep their jobs in the aftermath of the crash, or so they thought.
The regulators needed a window in to this club. They sought whistleblowers to tell them where to look and who to look at.
This I believe is why behind some of these deaths that authorities ruled a suicide.
Global banking is a very close-knit fraternity, with plenty of movement of the players from one bank to another. So chances are you are trading with someone you once worked with or will work with in the near future.
I think you had regulators finding some key executives, who knew what was going on and under pressure may have cracked and spoke to them on background.
It would not take long for the bankers to determine who spoke based on the questions asked and whom were interviewed.
I believe that a number of the declared suicides, had a more sinister motive behind it.
Perhaps in the future I will hear from other families like David Rossi’s wife Antonella, whose video is with the story, as she claims her husband knew too much and was killed.
Italian authorities have exhumed his body to look into her claims, which if you see the closed-circuit video of his death, you too will feel his death came at the hands of someone else.
The chilling view of him landing awkwardly and then having two men check to see if they accomplished the dirty deed, is too surreal.