Ellie sends along these stories. I personally would not be at all surprised to discover that accountability has started. By “accountability” I mean the removal of cabal figures from positions of influence. Some of them will simply step down; others will go to jail
The fact that one of them will not be receiving termination benefits should be a good indication of being in bad standing, so to speak. Watch for the dominoes to start tumbling.
SENIOR BANK OFFICERS RESIGNING FROM THEIR POSTS
Freddie Mac’s Chief Operating Officer Bruce Witherell Resigns
Posted on 09 February 2011.
According to a regulatory filing on February 9, 2011, Bruce M. Witherell resigned from his position and responsibilities as Chief Operating Officer of Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation) for personal reasons, effective immediately.
Mr. Witherell will not receive any termination benefits.
Governor Kevin Warsh resigns from Board of Governors of the Federal Reserve System, effective on or around March 31, 2011
Posted on10 February 2011
Kevin Warsh announced his intent to resign as a member of the Board of Governors of the Federal Reserve System on or around March 31, 2011.
Governor Warsh, a member of the Board since February 2006, submitted his letter of resignation to President Obama today.
“Kevin rendered the Federal Reserve and the nation exemplary service during his time at the Board,” Federal Reserve Board Chairman Ben S. Bernanke said. “In particular, his intimate knowledge of financial markets and institutions proved invaluable during the recent crisis. And he worked energetically and effectively behind the scenes overseeing the operations of the Board and the Federal Reserve System. I deeply appreciate his insights and wise counsel and, most especially, his fortitude and friendship during the difficult days, nights, and weekends of the crisis.”
Warsh has focused most significantly on issues related to financial markets and the conduct of monetary policy.
Warsh has served as the Federal Reserve’s representative to the Group of Twenty and the Board’s emissary to the emerging and advanced economies in Asia. In addition, he has served as Administrative Governor, managing and overseeing the Board’s operations, personnel, and financial performance.
Prior to his appointment to the Board, from 2002 until 2006, Warsh served as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council.
Wells Fargo’s C.F.O. Howard Adkins Retires
posted on09 February 2011
This will leave many, especially investors taking an interest as to why? In a press release Wells Fargo citing personal reasons.
Atkins’ retirement is unrelated to the company’s financial condition or financial reporting.
“We understand Howard’s decision to retire after having served Wells Fargo successfully for nearly ten years and after having had a financial services career that has spanned four decades. His tenure included Wells Fargo’s rise from a super-regional industry leader to the global company that it is today following its 2008 acquisition of Wachovia,” said John Stumpf, the company’s chairman, president and chief executive officer. “He leaves behind a Wells Fargo that remains financially strong and wholly committed to its strategy of helping all its customers succeed financially.
Other executive’s that left abruptly are Fidelity National Information Services Inc.’s Lee A Kennedy back in March 3, 2010. FIS announcement states, “in order to devote more time to outside interests.” and most recent this year on January 22,2011 came time for MERSCORP’S CEO R.K. Arnold departure.
They may have retired, but surely their names will be mentioned from time to time in the near future.