Subject: Fwd: More resignations
For your notification and awakening to this unusual occurrence..(you form your
own opinions) on this updated list from 3/7/12 that demonstrates a continued,
huge amounts of resignations. Special thanks to Gabriel of Facebook GLOBAL
MASS RESIGNATIONS for the heads up on a number of new banking
resignations.. Gabriel will be tracking Insurance, Government and Healthcare
Resignations. There’s been a large number of Healthcare resignations lately.
It is the opinion of many that this maybe the clearing that many of the
messages spoke of, prior to the age of prosperity for everyone.
153 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY
FUNDS
9/01/11 (USA NY) Bank of New York Mellon Chief Robert P. Kelly
Resigns in a Shake-UP
http://goo.gl/NdW7q
09/20/11 (SCOTLAND) SCOTTISH WIDOWS (RETIREMENT INVESTMENT SAVINGS FUND)
There could be no Scottish representative on the board of Lloyds Banking
Group, owner of Bank of Scotland, in future after it announced the
departure of Lord Sandy Leitch, the chairman of Scottish Widows and
group deputy chairman.
http://goo.gl/Dx8qs
9/25/11 (SWITZERLAND) UBS CEO Oswald Gruebel quits over £1.5bn rogue
trader crisis
http://goo.gl/WCeqB
9/28/11 (SWITZERLAND) SNB Bank Council: Fritz Studer resigns as per
end-April 2012
http://goo.gl/7dNiD
10/29/11 (CHINA) China Construction Bank Corp Chairman Guo Shuqing
resigns
http://goo.gl/fdd9v
10/29/11 (CHINA) Agricultural Bank of China Ltd Chairman Xiang Junbo
resigns
http://goo.gl/yWX9R
11/01/11 (INDIA) More directors of the Beed district bank resign
http://goo.gl/HD8BQ
11/02/11 (UK) Lloyds Banking Group chief executive, António
Horta-Osório, is to take leave of absence on health grounds for six to
eight weeks, the BBC has reported. (STILL OUT AS OF 2/24/12 -
DEFACTO RESIGNATION)
http://goo.gl/3L9gE
11/4/11 (USA) MF Global, Jon Corzine, stepped down as chairman
and CEO, hired criminal attorney to represent him.
http://goo.gl/tUaVY
11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui
to Resign
http://goo.gl/OiDiq
11/29/11 (USA) R. David Land Submits Resignation from the
Boards of Directors of Peoples Bancorp. and Seneca National Bank
http://goo.gl/XncOc
12/15/11 (UK) Senior private banker James Fleming resigns from
Coutts [private bank]
http://goo.gl/ANN5B
12/23/11 (USA VA) Bank feud: Chairman Mark Giles quits VNB
http://goo.gl/dFDpH
12/23/11 (USA VA) Bank feud: Board Member Claire Gargalli quits
VNB
http://goo.gl/kowkW
12/23/11 (USA VA) Bank feud: Board Member Leslie Disharoon quits
VNB
http://goo.gl/kstLp
12/23/11 (USA VA) Bank feud: Board Member Neal Kassell quits VNB
http://goo.gl/NrrPZ
1/01/12 (NIGERIA) United Bank for Africa Plc Victor Osadolor resigns
http://goo.gl/b6AoA
1/01/12 (ISRAEL) Israel’s Bank Leumi CEO Galia Maor steps down
after 16 years
http://goo.gl/xwlFt
1/03/12 (USA VA) Suffolk Bancorp president and CEO J. Gordon Huszagh
steps down
http://goo.gl/joExI
1/03/12 (UK) Arbuthnot Banking Group: Neil Kirton resigned
from the Board
http://goo.gl/SKE7j
1/03/12 (UK) Arbuthnot Banking Group: Atholl Turrell left
the Board.
http://goo.gl/bzZtQ
1/05/12 (UK) Saunderson House [Private Bank] CEO Nick Fletcher
steps down
http://goo.gl/zvo1L
1/09/12 (SWITZERLAND) SNB Chairman Philipp Hildebrand resigns
http://goo.gl/5qsUu
1/19/12 (SPAIN) Spanish bank Santander’s Americas chief Francisco
Luzon quits
http://goo.gl/jEY7Y
1/30/12 (UK) Butterfield Private Bank head Danny Dixon Steps
Down
http://goo.gl/sdY1p
1/20/12 (JAPAN) Normura’s head of wholesale banking Jasjit Bhattai
quits
http://goo.gl/6FuWe
1/21/12 (Greece) Institute of International Finance negotiator Charles
Dallara quits
http://goo.gl/NbPlt
1/21/12 (Greece) Institute of International Finance negotiator Jean
Lemierre quits
http://goo.gl/E3AkE
1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Gov Alan Bollard to
Step Down
http://goo.gl/BwUgv
1/30/12 (UK) British Private Equity and Venture Capital Association
(BVCA) COO Andrew Graham steps down
http://goo.gl/4SDW8
1/31/12 (SCOTLAND) Royal Bank of Scotland former CEO Fred Goodwin Stripped
of Knighthood
http://goo.gl/CoLVS
2/01/12 (SOUTH AFRICA) ABSA [Barclay's Bank]
deputy CEO Louis von Zeuner resigns
http://goo.gl/IP8nH
2/01/12 (UK) Lloyds Bankging Group head of wholesaleTruett Tate
quits
http://goo.gl/OqRVo
2/01/12 (UK) Llyods Banking Group Tim Tookey leaving end of
February
http://goo.gl/vjO5M
2/02/12 (VENEZUELA) Banking Crisis Arne Chacon arrested for Banking
Corruption
http://goo.gl/bb5sh
2/05/12 (USA – NY) Morgan’s investment banking chairman Joseph Perella
quit
http://goo.gl/pG2jF
2/05/12 (USA – NY) Morgan Stanley investment banking Tarek Abdel-Meguid
quit
http://goo.gl/bRv9K
2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits:
http://goo.gl/OhCEb
2/7/12 (USA) Bank Of America’s Mortgage Business Chief Barbara
Desoer Retires
http://goo.gl/i7AUY
2/07/12 (INDIA) Kotak Mahindra Bank Falguni Nayar quits
http://goo.gl/fP03J
2/07/12 (IRAN) Iran denies central bank resignation rumor (don’t
believe until its denied?)
http://goo.gl/PiQSy
2/09/12 (VATICAN) Four Priests Charged In Vatican Banking Scandal
(names not known)
http://goo.gl/tW8Sj
2/9/12 (UKRAINE) National Bank of Ukraine deputy governor Volodymyr
Krotiuk quits
http://goo.gl/8BuXy
2/10/12 (KOREA) Korea Exchange Bank chief Larry Klane steps
down
http://goo.gl/DBKdc
2/10/12 (INDIA) Tamilnad Mercantile Bank CEO A K Jagannathan
resigns
http://goo.gl/wMl5g
2/13/12 (KUWAIT) Kuwait Central Bank CEO Sheikh Salem Abdulaziz Al
Sabbah resigns
http://goo.gl/GFvIy
2/14/12 (NICARAQUA) Nicaraqua Central Bank President Antenor Rosales
resigns
http://goo.gl/iQ0n8
2/14/12 (UK) Social finance pioneer Malcolm Hayday quits
Charity Bank
http://goo.gl/uHp6C
2/14/12 (PAKISTAN) National Bank of Pakistan (NBP) chairman Syed Ali
Raza resigned
http://goo.gl/scexo
2/15/12 (WORLD) World Bank CEO Zoellick resigns
http://goo.gl/dHDSm
Did the White House tell the World Bank president that he’s out?
http://goo.gl/wUOgb
2/15/12 (SLOVENIA) Nova Kreditna Banka Maribor CEO Andrej Plos
resigns
http://goo.gl/SNsVI
2/15/12 (SLOVENIA) Nova Ljubljanska Banka d.d. CEO Bozo Jasovic
resigns
http://goo.gl/TyYiJ
2/16/12 (UK) The Financial Services Authority Margaret Cole
is to step down
http://goo.gl/yT6rS
2/16/12 (GHANA) Databank Group Executive Chair Ken Ofori-Atta
steps down
http://goo.gl/c7PtU
2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks
Managing Director Geoffrey Calvert Quits
http://goo.gl/CtmOU
2/16/12 (AUSTRALIA) ANZ Bank Australia CFO Peter Marriott resigns
http://goo.gl/I7Alo
2/16/12 (UK) Royal Bank of Scotland Sr Equities Trader Jason
Edinburgh Arrested
http://goo.gl/WczHh
2/16/12 (UK) Royal Bank of Scotland director equities bus. Vincent
Walsh director Arrested
http://goo.gl/I7Alo
2/16/12 (UK) Marex Spectron senior trader Michael Elsom
Arrested
http://goo.gl/I7Alo
2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen
Williams resigns
http://goo.gl/4r16D
2/17/12 (USA) Goldman Sachs CEO Lloyd Blankfein out as by
summer
http://goo.gl/UjpzD
2/17/12 (SWITZERLAND) SNB Council President Hansueli Raggenbass
resigns
http://goo.gl/1n1Nr
2/18/12 (PAKISTAN) The Bank of Azad Jammu & Kashmir executive
Zulfiqar Abbasi resigns
http://goo.gl/G0woP
2/20/12 (RUSSIA) Head of Russian Bank Regulator Gennady Melikyan
Steps Down
http://goo.gl/Unuez
2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns
http://goo.gl/F5twL
2/20/12 (ISRAEL) Bank Leumi le-Israel Ltd: Zvi Itskovitch
resigns
http://goo.gl/aA0RW
2/20/12 (USA WA) First Financial Northwest Director Spencer
Schneider Quits
http://goo.gl/6Dj0i
2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) Gen Mgr Benigno
Velez, resigns
http://goo.gl/DuMrm
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Matlub
resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Selima Ahmad
resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Musabbir
Ahmad resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
2/21/12 (BANGLADESH) City General Insurance Co. Ltd director Geasuddin
Ahmad resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
2/21/12 (BANGLADESH) Social Islami Bank Limited director Taslima Akter
resigns
conflict of interest with director seat on Eastland Insurance Company
Limited
http://goo.gl/aEmwB
2/21/12 (JAPAN) CITIBANK JAPAN: Bakhshi is taking over duties from Brian
Mccappin, who the bank said in December would resign after the unit
was banned for two weeks from trading tied to the London and Tokyo
interbank offered rates.
http://goo.gl/Z1rnw
2/22/12 (HONG KONG) DZ BANK project finance head Tim Meaney quits
http://goo.gl/ppKno
2/22/12 (USA) Goldman Sachs Hedge Fund Group Chief Howard
Wietschner to Retire
http://goo.gl/x4Zsr
2/23/12 (SOUTH AFRICA) Richard Gush
resigns from Standard Bank
http://goo.gl/DTL5S
2/23/12 (SCOTLAND) Royal Bank of Scotland Group director John
McFarlane resigns.
http://goo.gl/KoEUI
2/24/12 (INDIA) Breaking: ICICI Bank GC Pramod Rao resigns
http://goo.gl/5eUqU
2/24/12 (HONG KONG) Citigroup Pvt Bank Global Real Estate Kwang Meng
Quek Resigns
http://goo.gl/JIC9A
2/24/12 (NEW ZEALAND) FSF Executive Director Kirk Hope resigns
http://goo.gl/6UJau
2/24/12 (USA) Evercore Partners Head Eduardo Mestre steps
down
http://goo.gl/n5RLY
2/25/12 (AUSTRALIA AND NZ) Goldman Sachs Chairman Stephen
Fitzgerald quits
http://goo.gl/nMTLW
2/27/12 (GERMANY) Deutsche Bank Americas chief Seth Waugh steps
down
http://goo.gl/8lxSw
2/27/12 (BAHRAIN) Khaleeji Commercial Bank CEO Ebrahim Ebrahim
quits
http://goo.gl/yKjzL
2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Michel
Péretié Steps Down
http://goo.gl/IJ5Lw
2/27/12 (MALAYSIA) Elaf Bank CEO Dr El Jaroudi resigns
http://goo.gl/eVCS5
2/27/12 (INDIA) Kotak Mahindra Bank Ms Falguni Nayar Quits
http://goo.gl/pTbII
2/27/12 (GERMANY) Equiduct chairman Artur Fischersteps down
http://goo.gl/Q0dWR
2/27/12 (BAHRAIN) – Mumtalakat Holding [Sovereign Wealth Fund] CEO Al
Zain resigns
http://goo.gl/hhHSm
2/27/12 (IRAN) Bank Melli CEO Mahmoud Reza Khaavari
Resigns – Flees to Canada!
http://goo.gl/DDEUk
2/27/12 (IRAN) Bank Saderat CEO Mohammad Jahromi resigns
http://goo.gl/ZD0mc
2/27/12 (UK) Lloyds Banking Group Glen Moreno steps down
http://goo.gl/dsXcE
2/28/12 (HONG KONG) Hang Seng Bank CEO Margaret Leung Ko May-yee
quits
http://goo.gl/Uo800
2/28/12 (CHINA) Bank of China International ECM global head Marshall
Nicholson quits
http://goo.gl/26MYq
2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits, cites
health reasons
http://goo.gl/NDJze
2/28/12 (HONG KONG) Bank of America’s Asia-Pac. mrkts Brian Canniffe
quits
http://goo.gl/cRkCP
2/28/12 (BELGIUM) KBC’s CEO Jan Vanhevel is to retire after a
career spanning 41 years.
http://goo.gl/1rCWd
2/28/12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne
Brown quits
http://goo.gl/HIYXv
2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine
years for $3m theft
http://goo.gl/ggPvq
2/28/12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne
retires
http://goo.gl/YxvNA
2/28/12 (SOUTH AFRICA) REDEFINE INCOME FUND
director Gerald Leissner resigns
http://goo.gl/F0UgN
2/28/12 (ITALY) UNICREDIT: Chairman Dieter Rampl not available
for a new mandate
http://goo.gl/7aLRU
2/28/12 (UK) Bank of England Sir David Lees re-appointed
Chair of Bank of England and gives notice of resignation at end of 2013
http://goo.gl/LkJhV
2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc Director Keith
Walsh resigns
http://goo.gl/n6uoM
2/29/12 (AUSTRALIA) Perpetual portfolio manager Matt Williams steps
down
http://goo.gl/Jh9jd
2/29/12 (UK) Honister Capital CEO Richard Pearson steps down
http://goo.gl/014or
2/29/12 (GUYANA) National Investment and Commercial Investments Ltd.
(NICIL), Executive Director Winston Brassington resigns, “We feel
that (Winston) Brassington knows everything…A to Z about all the
transactions,” said Chairman of the Alliance for Change (AFC), Khemraj
Ramjattan, as he sounded a warning that controversial figure could be
subpoenaed to appear before the Parliamentary Economic Sector
Committee.
http:// goo.gl/L7I35
3/1/12 (MALAYSIA) RHB Bank Bhd deputy managing director Renzo Viegas
quits
http://goo.gl/wACrI
3/1/12 (ITALY) Italian Banking Association Chairman Giuseppe
Mussari talks to reporters in Rome after he and seven other executives
offered to resign in protest over new banking-fee rules included in the
government’s legislation on boosting competition.
http://goo.gl/3llyT
3/1/12 (USA FL) Florida Venture Forum [Venture Capital] Exec Dir Robin
Lester quits
http://goo.gl/nA8g9
3/1/12 (USA) PineBridge Investments said Win Neuger has
resigned as chief executive. Neuger helped build AIG’s third party asset
management business, PineBridge still manages AIG assets
http://goo.gl/SI7kT
3/1/12 (SINGAPORE) UBS Singapore – James Tulley is leaving Switzerland’s
largest bank, it is not clear where he is going.
http://goo.gl/BGugF
3/1/12 (USA NH) Piscataqua Savings Bank CEO Jay Gibson retires
http://goo.gl/uEqDV
3/1/12 (ICELAND) Iceland’s Financial Supervisory Authority (FSA) fired
its director Gunnar Andersen
http://goo.gl/VG9q5
3/2/12 (CHINA) China Construction Bank Corp, the assistant general
manager and head of corporate banking Mickey Mehta quits
http://goo.gl/B9dR0
3/2/12 (USA) Deutsche Bank Student Loan CEOJohn Hupalo quits
to start student loan counseling firm.
http://goo.gl/8kZuc
3/2/12 (UK) Bank of England Sir Mervin King resigns in
June, Lord Sassoon tipped as replacement.
http://goo.gl/ZEUwf
3/2/12 (BOTSWANA) Barclays Bank Botswana managing
director Wilfred Mpai forced to resign
http://goo.gl/npBe2
3/2/12 (HONG KONG) New Century Group Hong Kong Ltd [investment house and
leisure group] Wilson Ng resigns
http://goo.gl/wFSV8
3/2/12 (USA) Citigroup Richard Parsons to step down as
chairman
http://goo.gl/BhZ0F
3/3/12 (AUSTRIA) Volksbank AG (VBAG) The contract of CEO Gerald
Wenzel will not be extended
http://goo.gl/w99tD
3/3/12 (ETHIOPIA) Dashen Bank’s board dismisses president Leulseged
Teferi
http://goo.gl/Y801M
3/3/12 (RUSSIA) Enza Capital KK, Wealthy British banker Philip
Townsend (Baron Townsend of Rathmore) and his wife
killed at Estonia holiday home
http://goo.gl/GSOUN and http://goo.gl/x94ID and http://goo.gl/gGgLP
3/4/12 (KOREA) Hana Financial Group Inc, prominent figure in the
history of South Korean finance Kim Seung-yu , resigns
http://goo.gl/fmNxY
3/4/12 (USA) JP Morgan prop trading chief Mike Stewart quits
http://goo.gl/gubPj
3/5/12 ( SAUDI ARABIA) Al Rajhi Bank CEO Abdullah
bin Sulaiman Al Rajhi has resigned
http://goo.gl/pNx0l
3/5/12 (UK) Jupiter fund co-manager Tony Nutt steps down
http://goo.gl/RPqOp
3/5/12 (UK) Jupiter fund co-manager John Hamilton steps
down
http://goo.gl/RPqOp
3/5/12 (NEW ZEALAND) Insured Group Bill Jeffries has resigned as
chairman and director
http://goo.gl/gX7wu
3/5/12 (USA) Reliance Bancshares chairman Patrick Gideon
resigned
http://goo.gl/u6BT4
3/6/12 (FRANCE) Blackstone Group’s Paris office leader Jean-Michel
Steg will step down
http://goo.gl/w3Ca5
3/6/12 (JAMAICA) Jamaica Money Market Brokers Limited, Patricia
Sutherland has resigned as Executive Director
http://goo.gl/oMwv6
3/6/12 (JAMAICA) Jamaica’s Financial Services Commission (FSC),
Executive director Rohan Barnett, has resigned the position, the Ministry
of Finance, Planning and the Public Service announced this afternoon.
http://goo.gl/FBwFo
3/6/12 (USA) USA Technologies Inc Bradley M. Tirpak, a
nominee of Shareholder Advocates for Value Enhancement, has
resigned from its board subsequent to a settlement agreement with the
investing group, according to an SEC filing.
http://goo.gl/8oi7C
3/6/12 (UK) Sterling Green Group has announced that Philip
Kanas, a non-executive director, has decided to resign
Sterling Green Group PLC became a cash shell following the disposal of
their subsidiaries Taxdebts Ltd, Sterling Green (Mortgages) Ltd and the
back books of the clients of Sterling Green Ltd. during December 2011.
http://goo.gl/qc3jB
3/7/12 (GERMANY) Deutsche Bank AG’s (DB) Chief Risk Officer Hugo
Baenzigeri to resign
http://goo.gl/MWqsH
3/7/12 (GERMANY) Deutsche Bank AG’s (DB) Chief Operating Officer Hermann-Josef
Lamberti to resign
http://goo.gl/MWqsH
3/7/12 (UNITED ARAB EMIRATES) Dubai Mercantile
Exchange announced Thomas Leaver will step down as CEO
http://goo.gl/rfhWN
3/7/12 (SCOTLAND) Macfarlane Group Chairman Archie Hunter to step
down after 8 years of service
http://goo.gl/RHllr
3/7/12 (USA) BlackRock Emerging Markets Fund co-head Daniel
Tubbs, has left the group to pursue other opportunities.
http://goo.gl/CpEzZ
3/7/12 (UK) Goldman Sachs (GSI) Christopher French resigns
from board
http://goo.gl/3yQDS
3/7/12 (UK) Goldman Sachs (GSI) David Wildermuth resigns
from board
http://goo.gl/3yQDS
3/7/12 (UK) Goldman Sachs (GSI) Matthew Westerman resigns
from board
http://goo.gl/3yQDS
3/7/12 (UK) Goldman Sachs (GSI) co-head of global mergers and
acquisitions Yoel Zaoui resigns
http://goo.gl/3yQDS
3/7/12 (UK) Goldman Sachs (GSI) Phil Beatty resigned as
head of European power and natural-gas trading
http://goo.gl/jqbYY
3/7/12 (SINGAPORE) Nikko Asset Management Timothy McCarthy is
retiring as chairman and CEO at the end of the month
http://goo.gl/v8tcT
3/7/12 (HONG KONG) UBS Senior Asia Economist Jonathan Anderson
Departs
http://goo.gl/09VqT
3/7/12 (HAITI) FORMER DIRECTOR HAITI CENTRAL BANK
SLAIN!
http://goo.gl/UtVz3
3/7/12 (FRANCE) Société Générale Private Banking, Daniel Truchi is
to step down as head of Société Générale Private Banking http://goo.gl/XhgJ9
3/7/12 (AUSTRALIA) Customers Ltd, Tim Wildash has cashed himself
out as chief executive of Australia’s largest ATM operator
http://goo.gl/eZJMb
3/7/12 (USA CA) CALSTRS, Pascal Villiger, senior private equity
portfolio manager at the $145 billion California State Teachers’
Retirement System resigns
http://goo.gl/ub0ke
3/7/12 (USA) Astaire quits Bank of America Merrill to dance to
Barclays Capital’s tune
http://goo.gl/Zv6Ny
Addendum:
It is not known under what circumstances these individuals have left their
positions, I make no judgement on that. I find the timing of so many resignations
extremely curious and a temporal marker in history of high significance. No one
should assume I make any judgement about the character of these people. I
frankly don’t know their reputations except for a few rather famous ones.
This list includes Banks, Investment Houses, Sovereign Wealth Funds, Equity
Funds, Savings Retirement Funds and other shadow banking organizations. The
line is very blurry between these entities, some are owned by banks some are
banks, some invest in banks as well as owning entire industries (common in Hong
Kong and Japan).
--
Teri
1892 – Bankers adopted their Bankers’ Manifesto
of 1892 in which it was declared: “We [the bankers] must proceed with
caution and guard every move made, for the lower order of people are already
showing signs of restless commotion. Prudence will therefore show a policy of
apparently yielding to the popular will until our plans are so far consummated
that we can declare our designs without fear of any organized resistance. The
Farmers Alliance and Knights of Labor organizations in the United States should
be carefully watched by our trusted men, and we must take immediate steps to
control these organizations in our interest or disrupt them….
The
courts must be called to our aid, debts must be collected, bonds and mortgages
foreclosed as rapidly as possible.
When
through the process of the law, the common people have lost their homes, they
will be more tractable and easily governed through the influence of the strong
arm of the government applied to a central power of imperial wealth under the
control of the leading financiers. People without homes will not quarrel with
their leaders.”
Rags make paper,
Paper makes money,
Money makes banks,
Banks make loans,
Loans make poverty,
Poverty makes rags.