Separately, Tim Dickenson, a U.K.-based communications director at Swiss Re AG, died last week. The circumstances of and reason for Mr. Dickenson’s death haven’t been made public.
Moderators: Elvis, DrVolin, Jeff
by cptmarginal » Tue Jan 28, 2014 2:45 pm
Separately, Tim Dickenson, a U.K.-based communications director at Swiss Re AG, died last week. The circumstances of and reason for Mr. Dickenson’s death haven’t been made public.
by cptmarginal » Tue Jan 28, 2014 2:55 pm
by semper occultus » Tue Jan 28, 2014 4:26 pm
cptmarginal » 28 Jan 2014 18:31 wrote:http://www.independent.co.uk/news/uk/home-news/jp-morgan-name-man-who-died-after-fall-from-roof-of-canary-wharf-headquarters-as-gabriel-magee-9090071.htmlAn employee who died after falling from the roof of JP Morgan's European headquarters in Canary Wharf, has been named as Gabriel Magee, vice president in CIB Technology.
Mr Magee had been with the company since 2004 and worked in technology. He was not a trader or a banker.
...doh....The American senior manager, 39, fell from the 33-storey skyscraper and was found on the ninth floor roof, which surrounds the Canary Wharf skyscraper.
He was a vice president in the corporate and investment bank technology department having joined in 2004, moving to Britain from the United States in 2007.
http://www.dailymail.co.uk/news/article-2547275/BREAKING-NEWS-Man-30s-dies-plunge-JP-Morgan-headquarters-Canary-Wharf.html
by cptmarginal » Wed Jan 29, 2014 9:30 pm
cptmarginal » Tue Jan 28, 2014 1:45 pm wrote:Series of Deaths Among Financial Workers Jolts London - Wall Street JournalSeparately, Tim Dickenson, a U.K.-based communications director at Swiss Re AG, died last week. The circumstances of and reason for Mr. Dickenson’s death haven’t been made public.
The horrific scene when a devoted father "flipped" and battered his two-year-old daughter to death was described to a court yesterday.
Insurance executive Alberto Izaga suffered an "extreme and sudden" psychological breakdown which made him think the little girl was possessed by the Devil.
Sweating and shouting with rage, the 36-year-old millionaire ranted that "God doesn't exist! The universe doesn't exist! Humanity doesn't exist!"
[...]
Before last June's tragedy, Mr Izaga appeared to be living a charmed life. He had moved to London in 2002 and was a top executive at the insurance giant Swiss Re.
He lived with his wife and their daughter Yanire in a £1million Thames-side apartment with views of the Houses of Parliament.
The jury was told Mr Izaga was "universally liked" and "absolutely devoted" to his daughter, whom he described as "the most precious treasure on Earth".
But prosecutor Jonathan Rees told the jury how, in the weeks before the attack, Mr Izaga experienced two events that may have influenced his mental state.
The first was during a trip to New York, when Mr Izaga and his wife went to a cinema to find the only seats available were for the horror film Bug, directed by William Friedkin.
Not yet released in Britain, it concerns a swarm of cockroaches which crawl under people's skin, as well as Biblical themes.
Then, on a business trip to Geneva, Mr Izaga heard a motivational talk by adventurer Mike Horn, who spoke about leaving his family to go on lengthy trips and pushing himself to achieve his goals.
The evening after he returned, Mr Izaga was walking to a riverside restaurant with his wife when he started talking to himself and gesticulating wildly.
At around 4.30am the following day, he suddenly sat up in bed and started babbling incoherently.
Mr Rees told the court: "He began talking to his wife about the explorer in Geneva and the philosophies of the Jesuits.
"Referring to his fellow executives at Swiss Re, he appeared to indicate that they were part of a sect and trying to take over the financial world."
Over the next four hours Mr Izaga became increasingly worked up, bursting into tears and shouting about the film, the Devil and death.
by cptmarginal » Wed Jan 29, 2014 9:57 pm
by cptmarginal » Wed Jan 29, 2014 9:58 pm
Wed Jan 15, 2014
(Reuters) - The U.S. Federal Reserve and Office of the Comptroller of the Currency have sent investigators to Citigroup's London headquarters as part of an international investigation into alleged manipulation of the global currency market, a source familiar with the matter told Reuters on Wednesday.
This comes after Citi last week fired its head of European spot foreign exchange trading Rohan Ramchandani, following a prolonged period on leave.
The Fed and OCC officials, who have been at Citi's Canary Wharf office in London this week, are at the preliminary stage of information-gathering and their presence is "independent" of Ramchandani's sacking, the source said.
The Federal Reserve and OCC, which is an independent bureau of the U.S. Treasury, both declined to comment.
A spokesman for Citigroup also declined to comment.
Last year, Britain's Financial Conduct Authority began a formal investigation into possible manipulation in the $5.3 trillion-a-day global FX market. The U.S. Justice Department is also engaged in an active investigation of possible manipulation of the market, the world's largest.
by semper occultus » Thu Jan 30, 2014 6:24 am
http://www.dailymail.co.uk/news/article-1355083/Deutsche-Bank-tower-damaged-9-11-finally-dismantled.html
Ten years on, Deutsche Bank skyscraper damaged on 9/11 is finally dismantled
UPDATED: 14:29, 9 February 2011
A 41-storey tower badly damaged on September 11 has been taken down to street level, nearly a decade after the terrorist attacks.
The former Deutsche Bank building was ruined on 9/11 when the falling south tower of the World Trade Centre tumbled into it.
The building was damaged on September 11, 2001, when, an hour after being struck by a hijacked jet, the south tower of the World Trade Centre collapsed and ripped a 15-storey hole in the Deutsche Bank building.
The Deutsche Bank Building was a skyscraper at 130 Liberty Street in New York City, United States, adjacent to the World Trade Center (WTC).
Opened in 1974 as Bankers Trust Plaza, the building was acquired by Deutsche Bank when it acquired Bankers Trust in 1998.
It was part of the skyline of Lower Manhattan. The Deutsche Bank Building was heavily damaged in the September 11, 2001 attacks after being blasted by the avalanche of debris, ash, dust, and asbestos that spread from the collapse of the South Tower. ( wiki)
Deutsche Bank Alex.Brown Inc. (Fund Placement Group)
130 Liberty Street 25th Floor , New York , NY , 10006 , United States
http://www.alexbrown.db.com
Phone: +1 212 250 5563
Industry: Investment Advice
SIC: Investment Advice (6282)
NAICS: Investment Advice (523930)
2014-01-16 06:44:02
Brian Kelley, Director
Patrick Shattenkirk, Director
GM/Managing Director(s)
Charles Daugherty, Managing Director
http://www.insideview.com/directory/deutsche-bank-alex-brown-inc-fund-placement-group
by 82_28 » Thu Jan 30, 2014 7:41 am
by semper occultus » Thu Jan 30, 2014 8:02 am
Max Keiser: “Deutsche Bank is Officially on Suicide Watch”
July 25, 2013 By The Doc
Max Keiser has joined Jim Willie in predicting an imminent default of Deutsche Bank, which would likely result in a Lehman like triggering of the next financial panic.Max Keiser @maxkeiser
My Geneva fund contact: Deutsche Bank is officially on suicide watch. DB will be the next ‘Lehman’ moment that triggers new collapse.
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Recent excerpt from Jim Willie’s latest, who stated that if Deutche bank goes under, a full blown contagion is assured:
Judging from the ongoing defense from prosecution and cooperation (flipped) with Interpol and distraction of resources, the most likely bank to die next is Deutsche Bank. They are caught with accounting fraud and outright financial fraud over collateral shell games, pertaining to USTreasury Bonds, other sovereign bonds in Southern Europe, and OTC derivatives linked to FOREX currency contracts. D-Bank is a dead man walking.
The contagion that will hit is assured, since these three big banks are all interconnected, their positions intertwined, their fates tied like a common millstone around their necks. When they go down, and they will go down hard, the gaggle of Western financial firms (banks, investment banks, hedge funds, exchanges) will sink together into a sea of red ink, toxic swill, and more than a few orange jumpsuits. The legal route might be more likely a vanishing act, as hidden banker prisons have begun to be populated, very quietly, under extreme secrecy. Remember that since the great London gold drain last spring 2012, a new sheriff has been in town and hard at work. And he is taking bankers, mid-level bankers, the ones who know too much information, but who do not have the privileged high rank.
Jim Willie: If Deutsche Bank Goes Under It Will be Lehman Times Five!
http://www.silverdoctors.com/jim-willie-if-deutsche-bank-goes-under-it-will-be-lehman-times-five/
July 31, 2013 By The Doc
Willie, who recently stated that Deutche Bank is under major duress and could be the first major bank to collapse in the next stage of the banking crisis, informed The Doc that unlike the collapse of Lehman Brothers in 2008 which the Western Central banks were able to contain thanks to $13 T in bailout funds, a failure of Deutsche Bank would trigger a systemic banking contagion the likes of which the Western world has never seen.
When asked by The Doc how Deutsche Bank differs from Lehman Brothers in 2008, and what events could lead to a renewed banking crisis, Willie responded:
My best German source informs me that 3 major banks are in trouble, and these 3 banks are fighting every single night to fight off insolvency and failure. He says CitiGroup in New York, Barclays in London, and Deutsche Bank in Germany- every single night are in trouble.
The important thing to keep in mind about Deutsche Bank is that it won’t go down alone if it goes down at all. If it fails, it will take along with it 3,4,5,6 or 10, or 15 other banks! It will be 1 or 2 quickly, then a 3rd and 4th a few weeks later, another, then before you know it, all of Italy and their major banks would be kaput.
My belief is that Deutsche Bank and its constant overnight risk of failure is somewhat tied to derivatives related to LIBOR, and also a risk related to their FOREX derivatives. In other words, derivatives that the banks use to balance off the currencies.
Believe it or not, in the derivatives world, gold is treated like a currency. Isn’t that ironic?
The FOREX derivatives that the banks are involved in are very much tied to gold.
The big immediate threat for Deutsche Bank though has to do with their problems in hiding debt for the Sovereign nations applying for the Eurozone. For example, Greece and Italy couldn’t have their debt ratios over certain levels, so what Deutsche Bank did was they turned nice big chunks of Sovereign debt into currency swaps.
For an example of how this works: Suppose you have a $250,000 bad business loan that is stinking up your credit report. So you call up your favorite Deutsche banker (or Goldman or Morgan- pick your criminal enterprise that is your personal favorite) and you tell him, look I have a $250,000 debt here and I want to make it go away. They say OK, we can do something clever here. We can pay off your debt so your credit report looks good, and we can establish this $250,000 Euro swap, and we’ll keep it off the books!
So you have this $250,000 bad loan stinking up your books, it goes away, and is replaced by something hidden- a euro currency swap! That’s precisely what was done on a larger macro scale by Greece and Italy- and Deutsche Bank is involved with several of these, and the total that is becoming disclosed is $400 Billion. Apply your typical ratios and you can conclude that they are $10, $15, $20 billion short for capital requirements!
The big banks are so criminal that they have converted fraud and criminal activity into a small cost of doing business!
When asked to clarify his statement that a failure of Deutsche Bank would likely result in a contagion of bank failures Jim Willie responded:
Deutsche Bank is in a slightly different situation than Barclays, even though Barclays just announced a 12.8 billion capital shortfall Tuesday.
The former Deutsche Bank CEO Ackermann was forced out last year.
Interpol came into Ackermann’s office and conducted a financial document raid. There’s a new sheriff in town. Sources indicate that big, powerful Eastern interests hired Interpol to clean things up.
We had events in April, May, and June in which 5,000 metric tons of gold were lifted out of London. Eastern entities were angry as hell that their gold had been leased and rehypothecated. The London banks used the Easterners’ gold as equity for futures contracts that went bad- like in Spanish, Greek, and Italian debt.
Deutsche Bank’s CEO could not withstand an assault on their office to retrieve data, even though he appealed to several high level politicians.
Fast forward to July 2013, and now we are seeing several Deutsche Bank Vice Presidents being indicted under various fraud charges, and they are almost all cooperating with Interpol! They’ve flipped to cooperate with the serious fraud division of Interpol.
London and New York remain fortresses (for the cartel banksters), but Frankfurt might be in the process of being penetrated.
Getting back to your question as to why a Deutsche Bank failure would be different than Lehman Brothers, it’s because they are involved with all the different Sovereign bonds! Spain, France, Italy, Greece, they’re involved with all of them and their balance sheet qualifications for the European Union!
Deutsche Bank is involved very closely with all of the Eurozone currencies and bonds, and they have massive swaps interwoven with all the major Western banks.
I have a client informing me that Deutsche Bank has a bunch of swaps that they wrote against Detroit muni bonds! Deutsche Bank has their fingers in alot of different pies! Lehman Brothers was involved in numerous mortgage instruments.
Dont bet your money that Deutsche Bank will go down, but if it does, the next day its going to be Citi, Barclays, HSBC, Morgan Stanley, Soc Gen, and big threats to JP Morgan and Goldman Sachs!
In conclusion, Deutsche Bank owns $25 trillion in OTC swaps with the Central banks and other major banks, so expect a daisy chain of derivative failures for the $1.6 quadrillion derivative market if it were to fail!
Deutsche Bank cannot break down by itself. It would result in the complete breakdown of the European Monetary Union!
In today’s world when a big bank dies, they merge them with another big bank. Another European bank, potentially Barclays. I think we are going to see massive amounts of money flooding into gold!
A bank failure contagion, that’s whats going to push gold way over $2,000/oz again.
Silver is going to be moving over $100 and gold is going over $5,000, I’m as certain of it as I am that the sun will rise in the east in the morning come January.
by coffin_dodger » Fri Jan 31, 2014 11:31 am
Russell Investments Chief Economist Dueker Found Dead
Jan 31, 2014 Bloomberg
Mike Dueker, the chief economist at Russell Investments, was found dead at the side of a highway that leads to the Tacoma Narrows Bridge in Washington state, according to the Pierce County Sheriff’s Department. He was 50.
He may have jumped over a 4-foot (1.2-meter) fence before falling down a 40- to 50-foot embankment, Pierce County Detective Ed Troyer said yesterday. He said the death appeared to be a suicide.
cont - http://www.bloomberg.com/news/2014-01-3 ... -dead.html
by cptmarginal » Fri Jan 31, 2014 4:56 pm
Other than this, I've found no reference to Tim Dickenson's death. Idle speculation on my part, but maybe it's something to do with that Swiss Re executive who was found dead a few months ago, Pierre Wauthier (as detailed by MinM in the previous page of this thread.)
Tragedy in Switzerland: What drove two top executives to suicide? - September 23, 2013
Zurich in the late summer is a place of bucolic serenity, where birds swoop across the lake, before beginning their migration South over the Alps. But on August 26, the picturesque calm in Switzerland's financial center was blown apart. Pierre Wauthier, the 53-year-old chief financial officer of one of the world's biggest underwriters, Zurich Insurance Group (ZURVY), was found hanging in the Wauthier family home, in the small upscale Zurich exurb of Walchwil. With clean-cut looks and a marathon-runner's build, the 53-year-old executive left two grown children and a wife, Fabienne, whose memory of his party-dance skills suggested a zest for life, rather than anguish.
But Wauthier left something else, too, which has sent shock waves through the business world and left Zurich Insurance (No. 123 on the Global 500) reeling: Two suicide notes, one to his family, the other to the company. At first glance, the second looked like a business communiqué, typewritten under the heading, "To Whom It May Concern." Instead, it was a damning indictment of a towering figure in European business: Zurich's chairman and former Deutsche Bank CEO, Josef Ackermann. Wauthier said he'd been driven to desperation by the chairman's overbearing style -- a relationship so toxic, that suicide seemed a logical escape. Written in English, the language the two men typically spoke together, it was "a violent reproach," says Zurich's biweekly financial magazine Bilanz, citing several people who have read it. "It castigated Ackermann as aggressive and referred to him as the worst chairman he had ever experienced." Within days of the suicide, Ackermann, 65, was gone from Zurich, telling the board that although Wauthier's accusations were baseless, they rendered his position untenable.
In the weeks since that tragic summer's end, many in the financial world have been left to ponder profound issues. First, how did a major corporation fail to notice that its longtime, much-liked executive was hurtling toward suicidal despair? Wauthier was deeply enmeshed in Zurich's top ranks, having spent 17 years at the company -- nearly 16 years longer than Ackermann. The company is conducting an internal probe into the affair and moved quickly to name Ackermann's deputy Tom De Swaan as its new chairman.
semper occultus » Thu Jan 30, 2014 7:02 am wrote:The former Deutsche Bank CEO Ackermann was forced out last year.
Interpol came into Ackermann’s office and conducted a financial document raid. There’s a new sheriff in town. Sources indicate that big, powerful Eastern interests hired Interpol to clean things up.
We had events in April, May, and June in which 5,000 metric tons of gold were lifted out of London. Eastern entities were angry as hell that their gold had been leased and rehypothecated. The London banks used the Easterners’ gold as equity for futures contracts that went bad- like in Spanish, Greek, and Italian debt.
Deutsche Bank’s CEO could not withstand an assault on their office to retrieve data, even though he appealed to several high level politicians.
Fast forward to July 2013, and now we are seeing several Deutsche Bank Vice Presidents being indicted under various fraud charges, and they are almost all cooperating with Interpol! They’ve flipped to cooperate with the serious fraud division of Interpol.
by cptmarginal » Fri Jan 31, 2014 7:16 pm
..so how eaxctly do they think banks trade these days.....?
Gabriel Magee's Experience
Lead Architect, Fixed Income / Rates Technology
JPMorgan
October 2010 – Present (3 years 4 months) London, United Kingdom
by semper occultus » Sat Feb 01, 2014 10:40 am
Exclusive: Deutsche Bank suspends currency trader
By Gertrude Chavez-Dreyfuss
http://www.reuters.com/article/2014/01/30/us-forex-investigations-deutsche-idUSBREA0T08V20140130
NEW YORK Thu Jan 30, 2014 6:39am EST
(Reuters) - Deutsche Bank has suspended the head of its emerging markets foreign exchange trading desk in New York in connection with ongoing investigations into the alleged manipulation of the global currency market, a source familiar with the matter said.
Diego Moraiz, who has been with the bank since 2004 and has specialized in trading the Mexican peso, was told by the bank on December 18 that he was suspended, the source said.
Moraiz's suspension came after an external consulting firm hired by Deutsche Bank examined emails and communications in chatrooms going back seven years, the source said.
true The specific reason for the suspension is unclear. Reuters couldn't determine which consulting firm had been retained.
The source did not know whether Moraiz was still being paid or when the investigation will be completed. Moraiz, who is from Argentina, remains in the United States, the source said.
The source spoke on condition of anonymity because the investigation is an internal bank matter and is continuing.
Moraiz did not respond to several phone calls from Reuters.
Cartels use legitimate trade to launder money, U.S., Mexico say
Fruit, fabric and toys are purchased and then exported south, generating paperwork that gives drug money the appearance of lawful proceeds from a transaction, authorities say.
December 19, 2011|By Tracy Wilkinson and Ken Ellingwood, Los Angeles Times
http://articles.latimes.com/2011/dec/19/world/la-fg-mexico-money-laundering-trade-20111219
Reporting from Mexico City — It's fast becoming the money-laundering method of choice for Mexican drug traffickers, U.S. and Mexican officials say, and it involves truckloads not of cash, but of fruit and fabric.
Faced with new restrictions on the use of U.S. cash in Mexico, drug cartels are using an ingenious scheme to move their ill-gotten dollars south under the guise of legitimate cross-border commerce.
Long used by Colombian cartels, the scheme is becoming more popular with Mexican traffickers after new efforts here to combat laundering by restricting the use of dollars. Those restrictions, plus proposed limits on cash purchases of big-ticket items such as houses and boats, make it less attractive for traffickers to hold trunks full of U.S. cash.
After many years of using dollars to buy luxury items and pay their suppliers and dealers, cartel capos have suddenly found themselves in need of pesos. Trade-based money-laundering solves that problem.
by conniption » Mon Feb 03, 2014 4:26 pm
RT
Financial world shaken by 4 bankers' apparent suicides in a week
Published time: February 03, 2014
Mike Dueker (Still from YouTube video/Russell Investments)
The apparent suicide death of the chief economist of a US investment house brings the number of financial workers who have died allegedly by their own hand to four in the last week.
50-year-old Mike Dueker, who had worked for Russell Investment for five years, was found dead close to the Tacoma Narrows Bridge in Washington State, says AP.
Local police say he could have jumped over a fence and fallen 15 meters to his death, and are treating the case as a suicide.
Dueker was reported missing by friends on January 29, and police had been searching for him.
A Sheriff’s spokesman said investigators learned that he was having problems at work but did not elaborate.
Jennifer Tice, a company spokeswoman declined to comment, however said, that Dueker was in good standing at Russell.
“We were deeply saddened to learn today of the death,” Tice said in an e-mail on Friday. “He made a valuable contributions that helped our clients and many of his fellow associates.”
Dueker joined Russell Investment in 2008. He wrote for Market Outlook financial services publications, forecasting the business cycle and the target federal funds rate. He is the creator and developer of a business cycle index that forecast economic performance published monthly on the Russell website.
He was previously an assistant vice president and research economist at the Federal Reserve Bank of St. Louis, and is ranked in the top 5 percent of published economists.
Over the past two decades he wrote tens of research papers mostly on monetary policy, according to the bank’s website.
His most-cited paper was “Strengthening the case for the yield curve as a predictor of U.S. recessions,” published in 1997 while he was a researcher at the Federal Reserve.
“He was a valued colleague of mine during my entire tenure at the St. Louis Fed,” said William Poole, the bank's ex-president. “Everyone respected his professional skills and good sense.”
Dueker held an undergraduate degree in math from the University of Oregon, a master’s degree in economics from Northwestern University and a Ph.D. from the University of Washington.
Streak of bankers’ deaths
Dueker’s apparent suicide was the fourth among financial experts in a week.
A 58-year-old former senior executive at Deutsche Bank AG, William Broeksmit, was found dead on January 26 in his home after an apparent suicide in South Kensington in central London.
The next day, January 27, Tata Motors managing director Karl Slym, 51, was found dead on the fourth floor of the Shangri-La hotel in Bangkok. Police said he could have committed suicide. Mr. Slym was staying on a 22th floor with his wife, and was attending a board meeting in the Thai capital.
Another tragic incident occurred on January 28, when a 39-year-old Gabriel Magee, a JP Morgan employee, died after falling from the roof of its European headquarters in London.
The offices of JP Morgan in the Canary Wharf district of London (Reuters/Simon Newman)
While creating fortunes, City and Wall Street jobs are notorious for extra-long working weeks and huge amounts of stress. In a move to ease the tension some of the world’s biggest lenders like Bank of America, Goldman Sachs, JP Morgan and Credit Suisse have been telling junior staff to take more time off.
Some European countries like Belgium and the Netherlands have reduced the working week from 40 to 30 hours without damaging their economies, while in Germany an average worker puts in 35 hours a week and is the world’s fourth largest economy.
by conniption » Thu Feb 06, 2014 3:05 am
Wall Street on Parade
A Rash of Deaths and a Missing Reporter – With Ties to Wall Street Investigations
By Pam Martens
February 3, 2014
Senator Carl Levin's Permanent Subcommittee on Investigations Is Probing Global Banks' Involvement in the U.S. Commodities Markets
In a span of four days last week, two current executives and one recently retired top ranking executive of major financial firms were found dead. Both media and police have been quick to label the deaths as likely suicides. Missing from the reports is the salient fact that all three of the financial firms the executives worked for are under investigation for potentially serious financial fraud.
The deaths began on Sunday, January 26. London police reported that William Broeksmit, a top executive at Deutsche Bank who had retired in 2013, had been found hanged in his home in the South Kensington section of London. The day after Broeksmit was pronounced dead, Eric Ben-Artzi, a former risk analyst turned whistleblower at Deutsche Bank, was scheduled to speak at Auburn University in Alabama on his allegations that Deutsche had hid $12 billion in losses during the financial crisis with the knowledge of senior executives. Two other whistleblowers have brought similar charges against Deutsche Bank.
Deutsche Bank is also under investigation by global regulators for potentially rigging the foreign exchange markets – an action similar to the charges it settled in 2013 over its traders’ involvement in the rigging of the interest rate benchmark, Libor.
Just two days after Broeksmit’s death, on Tuesday, January 28, a 39-year old American, Gabriel Magee, a Vice President at JPMorgan in London, plunged to his death from the roof of the 33-story European headquarters of JPMorgan in Canary Wharf. According to Magee’s LinkedIn profile, he was involved in “Technical architecture oversight for planning, development, and operation of systems for fixed income securities and interest rate derivatives.”
Magee’s parents, Bill and Nell Magee, are not buying the official story according to press reports and are planning to travel from the United States to London to get at the truth. One of their key issues, which should also trouble the police, is how an employee obtains access to the rooftop of one of the mostly highly secure buildings in London.
Nell Magee was quoted in the London Evening Standard saying her son was “a happy person who was happy with his life.” His friends are equally mystified, stating he was in a happy, long-term relationship with a girlfriend.
JPMorgan is under the same global investigation for potential involvement in rigging foreign exchange rates as is Deutsche Bank. The firm is also said to be under an investigation by the U.S. Senate’s Permanent Subcommittee on Investigations for its involvement in potential misconduct in physical commodities markets in the U.S. and London.
One day after Magee’s death, on Wednesday, January 29, 2014, 50-year old Michael (Mike) Dueker, the Chief Economist at Russell Investments, is said to have died from a 50-foot fall from a highway ramp down an embankment in Washington state. Again, suicide is being presented by media as the likely cause. (Do people holding Ph.D.s really attempt suicide by jumping 50 feet?)
According to Dueker’s official bio, prior to joining Russell Investments, he was an assistant vice president and research economist at the Federal Reserve Bank of St. Louis from 1991 to 2008. His duties there included serving as an associate editor of the Journal of Business and Economic Statistics. He also was editor of Monetary Trends, a monthly publication of the St. Louis Fed.
Bloomberg News quotes William Poole, former President of the St. Louis Fed from 1998 to 2008, saying “Everyone respected his professional skills and good sense.”
According to a report in the New York Times in November of last year, Russell Investments was one of a number of firms that received subpoenas from New York State regulators who are probing the potential for pay-to-play schemes involving pension funds based in New York. No allegations of wrongdoing have been made against Russell Investments in the matter.
The case of David Bird, the oil markets reporter who had worked at the Wall Street Journal for 20 years and vanished without a trace on the afternoon of January 11, has this in common with the other three tragedies: his work involves a commodities market – oil – which is under investigation by the U.S. Senate’s Permanent Subcommittee on Investigations for possible manipulation. The FBI is involved in the Bird investigation.
Bird left his Long Hill, New Jersey home on that Saturday, telling his wife he was going for a walk. An intentional disappearance is incompatible with the fact that he left the house wearing a bright red jacket and without his life-sustaining medicine he was required to take daily as a result of a liver transplant. Despite a continuous search since his disappearance by hundreds of volunteers, local law enforcement and the FBI, Bird has not been located.
When a series of tragic events involving one industry occur within an 18-day timeframe, the statistical probability of these events being random is remote. According to a number of media reports, JPMorgan is conducting an internal investigation of the death of Gabriel Magee. Given that JPMorgan, Deutsche Bank and Russell Investments are subjects themselves of investigations, a more serious, independent look at these deaths is called for.
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