Source – nypost.com
– “...At least 40 bankers have killed themselves in the 17-month period starting March 2013 in the wake of the global banking scandal, the circumstances of Rossi’s death — and two others — stand out as particularly mysterious”:
(Why Are So Many Bankers Committing Suicide? – By Michael Gray)
During the past few years we have extensively covered the odd rash of banker suicides, pointing out the various conspiracy theories linking various high-level bank executives and inside scandals at the very highest levels across Europe’s banks. It appears, once again, that those conspiracy theories are more real than many would like to admit as Michael Gray exposes, and one of the bankers’ sons questions, why are so many bankers committing suicide?
Authored by Michael Gray, originally posted at NYPost.com,
Three bankers in New York, London and Siena, Italy, died within 17 months of each other in 2013-14 in what authorities deemed a series of unrelated suicides. But in each case, the victim had a connection to a burgeoning global banking scandal, leaving more questions than answers as to the circumstances surrounding their deaths.
The March 6, 2013 death of David Rossi — a 51-year-old communications director at Monte dei Paschi di Siena, the world’s oldest bank — came as the institution teetered on the brink of collapse.
Rossi was found dead in an alleyway beneath his third-floor office window in the 14th-century palazzo that served as the bank’s headquarters.
A devastating security video shows Rossi landing on the pavement on his back, facing the building — an odd position more likely to occur when a body is pushed from a window.
The footage shows the three-story fall didn’t kill Rossi instantly. For almost 20 minutes, the banker lay on the dimly lit cobblestone, occasionally moving an arm and leg.
As he lay dying, two murky figures appear. Two men appear and one walks over to gaze at the banker. He offers no aid or comfort and doesn’t call for help before turning around and calmly walking out of the alley.
About an hour later, a co-worker discovered Rossi’s body. The arms were bruised and he sustained a head wound that, according to the local medical examiner’s report, suggested there may have been a struggle prior to his fall.
But the death was ruled a suicide to the disbelief of Rossi’s widow, Antonella Tognazzi. She was quoted in the Italian press as saying her husband “knew too much.” She staged public demonstrations and hired a lawyer to investigate her husband’s death.
Among the evidence Tognazzi pointed to was the alleged suicide note, in which Rossi referred to her as Toni. He never called her Toni, she said.
Two days prior to his death, according to his wife, Rossi sent a cryptic email to the bank’s CEO Fabrizio Viola. “I want guarantees of not being overwhelmed by this thing,” he wrote. “We would have to do right away, before tomorrow. Can you help me?”
It remains a mystery what specifically Rossi thought could “overwhelm” him just before his death, but many have speculated that he was referring to Monte Paschi’s troubled financial position.
Rossi was a close confidant to former bank president Joseph Mussari, who was the driving force behind Monte Paschi’s 2008 $7.5 billion takeover of Banca Antonveneta. Many banking analysts agreed at the time that Monte Paschi paid too much in the acquisition that Deutsche Bank financed.
The same year as Rossi’s death, European and US regulators began to probe what would become known as the Libor scandal, in which London bankers conspired to rig the London Interbank Offered Rate — an overnight interest rate that determines the interest banks charged on mortgages, and auto and personal loans across the globe. It also determines the rate banks like Monte Paschi pay for loans like the one it used to finance the purchase of Banca Antonveneta. The scandal would cost international banks — most notably Deutsche — nearly $20 billion in fines.
Additionally, Monte Paschi got involved in risky derivatives that took heavy losses during the financial crisis of 2008. The esteemed bank, founded 20 years before Christopher Columbus crossed the Atlantic, was being investigated at the time of Rossi’s death for its handling of billions in these risky derivative bets involving Deutsche Bank and Merrill Lynch.
In October 2014 Mussari and two other Monte Paschi executives were convicted by Italian authorities for obstructing regulators and misleading investigators on the bailed-out Italian bank’s finances in the wake of the acquisition of Banca Antonveneta. In January of this year, three executive from Deustche Bank were also implicated civilly, including Michele Faissola, the wealth management director the German bank—charged by Italian authorities of colluding with the troubled Monte Paschi in falsifying accounts, manipulating the market, and obstructing justice. Faissola denies these charges.
While at least 40 bankers have killed themselves in the 17-month period starting March 2013 in the wake of the global banking scandal, the circumstances of Rossi’s death — and two others — stand out as particularly mysterious.
In January 2014, the body of William Broeksmit, 58, a high-ranking Deutsche Bank executive, was found hanging in his London flat from a dog leash tied to the top of a door.
Financial papers were strewn about, and on a dog bed near the body were a number of notes to family and friends. One was addressed to Deutsche Bank CEO Anshu Jain, with an apology. But that note — never publicly revealed until now — offered no clue as to the reason he was sorry.
Broeksmit’s high-ranking colleague at Deutche was Michele Faissola, who arrived on the gruesome scene after Broeksmit’s wife told his stepson, Val Broeksmit, to phone him. He arrived minutes later, and began going through the bank papers and read the suicide notes.
“He did go to my father’s computer which was, at the time, I thought a little weird,” said Val Broeksmit.
There is no evidence Faissola was involved in any misconduct related to Broeksmit’s death, but the stepson said he still wonders what, if anything, Faissola was searching for. Faissola declined comment.
In emails provided to The Post by his stepson Val, Broeksmit had just messaged friends about his excitement to go on a ski vacation scheduled for a week later.
Although a report from Broeksmit’s clinical psychologist revealed that Broeksmit was “very anxious about authorities investigating areas of the bank at which he worked,” his depression over the Libor investigation the year before seemed to have lifted, according to a doctor who’d given him a clean bill of health a month before his death, said his stepson. Val found other unsettling facts while going over his father’s personal papers and e-mails.
“Yes he killed himself,” Val Broeksmit told The Post. “But there’s a question: could it be suicide by extortion, could it be suicide by pressure or saying if you don’t do this, we’re going to do this? There’s a couple suspicions I have.”
In early 2013, Jain planned to make Broeksmit chief risk officer for the entire bank. He was an expert in the esoteric field of derivatives, of which Deutsche had roughly $60 trillion worth on its books. But German banking regulators nixed the appointment because it said he lacked the requisite experience.
Broeksmit left the bank in June, but a few months later took a position in New York as a director of Deutsche Bank Trust Company of America, the US arm of the German banking giant. It was his reward for his long service after butting heads with German banking authorities.
DBTCA was the former Banker’s Trust, which Deutsche bought in 1998. It’s the custodial arm for wealthy clients to park money for trust funds and other long-term investing.
My father was the first to go
Deutsche Bank’s asset and wealth management unit was overseen by Michele Faissola, who along with Broeksmit reported directly to CEO Jain. But unlike most bank directors, Broeksmit’s natural curiosity and work ethic didn’t permit him to just turn up for a monthly meeting and cash a paycheck. He began to dig in, looking at the operation.
“[My father] didn’t just want to show up,” said Val Broeksmit.
A month before his death, William Broeksmit wrote — in what his son says shows his anger — to fellow executives asking why he should take the lead on a sticky matter of the upcoming Federal Reserve-mandated stress test for the bank.
He also questioned the “generous” loan-loss numbers being used by the bank, afraid that federal regulators would see the bank was losing more on loans than the books showed. Large losses could lead the feds to slap the bank with restrictions.
“Who is recommending that I do this? I am supposed to be an independent director and this puts me further into a role aligned with management,” he wrote.
Two years ago, the mystery of the banker suicides hit New York City. Calogero “Charles” Gambino, 41, a married father of two kids, was Deutsche’s in-house lawyer for 11 years at the bank’s downtown headquarters. He was working on defending the bank against Libor charges and other regulatory probes.
On Oct. 20, 2014, Gambino’s body was found by his wife Maria hanging from an upstairs balcony of his Brooklyn home, a neatly kept white brick townhouse in Bay Ridge with ornamental stone fretwork at the roof line. The rope was snaked through the bannister and tied off on the knoll post on the first floor.
There was no reported note and his tight-knit family has refused to speak about his death.
I believe he knew too much
The Post reached out to the widow numerous times only to be told by a Deutsche Bank spokesperson that his wife “did not wish to be disturbed and please remember she has two young children.”
The serious-looking, bespectacled banker was a New York success story — a graduate of St. John’s University and St. John’s Law School who spent two years working at the Securities and Exchange Commission as an enforcement lawyer. He then moved to the white-shoe law firm Skadden Arps as an associate for four years before taking the position at Deutsche Bank, where he moved up the ranks to become an associate general counsel and managing director.
In his work as corporate counsel for Deutsche, Gambino had dealings with many of the bank’s European executives — including Michele Faissola and William Broeksmit.
Mostly it was Gambino’s colleague, outside counsel Mark Stein of Simpson Thatcher, who had the direct contact. Stein, who declined to comment, advised Broeksmit and Faissola in 2012 and 2013 on the Libor probes. Deutsche Bank ultimately reached a settlement with the Department of Justice, paying $12 billion in fines, without any admission of liability.
Gambino’s death was ruled a suicide. In his case and in the cases of both Rossi and Broeksmit, probers never looked for, nor discovered, common threads.
But all three men worked for, or did business with, Deutsche Bank. Moreover, it appears that one or more of the scandals that enveloped Deutsche Bank and/or Monte Paschi since the financial crisis had crossed each of their desks.
It remains to be seen if the circumstances leading to Gambino and Broeksmit’s deaths will ever be re-considered. But questions are being asked and answered in Rossi’s case.
Late last year Italian authorities exhumed his body and reopened their investigation. A ruling on whether Rossi killed himself or was murdered is expected later this month.
Tags
Department of Justice Deustche Bank Deustche Bank Deutsche Bank Italy LIBOR Merrill Merrill Lynch Monte Paschi New York City Securities and Exchange Commission Stress Test
35,122 Printer-friendly version Jun 12, 2016 1:58 PM
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DownWithYogaPants’s picture
DownWithYogaPants Jun 12, 2016 12:34 PM
Last video has the hit men checking the guy out after because he was moving his arms for a while before he died.
hedgeless_horseman’s picture
hedgeless_horseman DownWithYogaPants Jun 12, 2016 12:36 PM
Banker suicide is a drop in the ocean compared to US veterans.
22 US veterans commit suicide every day.
DownWithYogaPants’s picture
DownWithYogaPants hedgeless_horseman Jun 12, 2016 12:36 PM
You’re not paying attention. They have been called “suicides”. They are not. They are probably murders. And of the good guys who would give up the game on the other banksters.
hedgeless_horseman’s picture
hedgeless_horseman DownWithYogaPants Jun 12, 2016 12:41 PM
You’re not paying attention.
22 of our kids are killing themselves every day because they figure out the are defending bankers’ profit, not our nation.
16. Read War is a Racket, by Smedley D. Butler.
17. Read On Killing: The Psychological Cost of Learning to Kill in War and Society, by Dave Grossman.
18. Watch the online video of the TED Talk, A radical experiment in empathy, by Sam Richards.
http://www.zerohedge.com/news/2016-01-06/hedgelesshorsemans-revolutionar…
DownWithYogaPants’s picture
DownWithYogaPants hedgeless_horseman Jun 12, 2016 12:42 PM
Dude you’re a moron. Miss the point if you want but it’s easy to see you’ve got a head full of concrete.
hedgeless_horseman’s picture
hedgeless_horseman DownWithYogaPants Jun 12, 2016 12:46 PM
I may be a moron, but I can figure out that 40 bankers < 8,030 veterans every year.
Not to mention the millions of people killed by the US military in banker’s wars.
D Nyle’s picture
D Nyle hedgeless_horseman Jun 12, 2016 1:00 PM
Banker suicides, sounds like a Win Win Win Win……..
Go long Nail Guns
CPL’s picture
CPL D Nyle Jun 12, 2016 1:18 PM
Pop, pop, pop.
Watchin banksters drop.
They play games with the first water,
That they don’t survive the slaughter.
The jew’ed called him the adam,
And thought they had him.
But in a boating accident they killed him,
Now he rules their hell.
Slow and cruel he will be,
Death to abraham’s children they will see.
Many cycles over time,
This one man his clout divine.
If you like your bait and tackle.
Pay your due or things will crackle.
If you find the terms unfair,
Who gives shit about your mare.
There’s one stud to begin the cycle,
And sure as fuck it ain’t Micheal.
NotApplicable’s picture
NotApplicable hedgeless_horseman Jun 12, 2016 1:59 PM
I believe that his whole point is that these three people fall squarely within “the millions of people killed in banker’s wars” (just not by the US military in this case), but instead of discussing this aspect, you chose to use it as an opportunity to launch an off-topic sermon about vet suicides.
Besides, there’s absolutely nothing new about this trend. Having to fight in a war that clearly is not about “protecting our homeland” dehumanizes all involved. PTSD is a naturally occurring effect otherwise known as cognitive dissonance.
Myself, I’m one of the lucky ones. I finished my 6 year tour in the USMC three months before April Glaspie (sp?) convinced Saddam that it was okay by us if he invaded Kuwait.
Could you please admit you went off-topic instead of engaging in any further idiotic, defensive snark? I can assure you that it does no one any good.
pndr4495’s picture
pndr4495 hedgeless_horseman Jun 12, 2016 2:39 PM
On the scale of feeblemindedness & in descending order it goes: MORON – IMBECILE – IDIOT. I happen to read most of your posts HH and you strike me as an intelligent person, regardless of what level of education you may have completed. In a warped way DWYP paid you a compliment, since he had a choice, and chose the smartest of the 3.
Kefeer’s picture
Kefeer hedgeless_horseman Jun 12, 2016 3:12 PM
Parental Guidance Suggested – Why anyone would not try to prevent their child from entering the Military in this day is beyond understanding. Of course parenting isn’t what it use to be either, nor is the day and times in which we live.
Lordflin’s picture
Lordflin DownWithYogaPants Jun 12, 2016 2:01 PM
A more interesting question for me… and this is not to take anything away from the point of the article… but why aren’t the rest of them following suit…
There, I promised the next thing I wrote here would be uplifting…
Dental Floss Tycoon’s picture
Dental Floss Tycoon hedgeless_horseman Jun 12, 2016 12:40 PM
Why should I care if bankers commit suicide or if they are killing each other. One less banker. That’s a good thing. Right?
DownWithYogaPants’s picture
DownWithYogaPants Dental Floss Tycoon Jun 12, 2016 12:44 PM
If the INFORMANTS as in the case of the one fellow are being offed we care yes. Do I have to paint you a picture?
Dental Floss Tycoon’s picture
Dental Floss Tycoon DownWithYogaPants Jun 12, 2016 12:50 PM
We don’t need more INFORMANTS. There is no scaricity of evidence of wrong doing. What is missiing is a willingness to prosecute.
Die banker scum! The more the better.
DownWithYogaPants’s picture
DownWithYogaPants DownWithYogaPants Jun 12, 2016 12:36 PM
Due to the positioning of his body it’s an almost certainty this guy was tossed out the window.
RafterManFMJ’s picture
RafterManFMJ DownWithYogaPants Jun 12, 2016 2:16 PM
Q: Why are many banksters killing themselves?
A: Who cares?! More! (Grabs popcorn)
JRobby’s picture
JRobby DownWithYogaPants Jun 12, 2016 2:28 PM
People are talking
AARP states suicides are up for ages 45 to 65.
Played by all the rules, were loyal employees, had their 401k’s annihilated not once but twice by the fraudster criminal bankers then had their teeth kicked in by corporate “employers”.
Layne: “I say stay long enough to repay all who caused strife”
navy62802’s picture
navy62802 Jun 12, 2016 12:35 PM
If anything, the rate is too low among bankers.
DownWithYogaPants’s picture
DownWithYogaPants navy62802 Jun 12, 2016 12:37 PM
Point is they are not suicides….how about reading the article first before commenting?
RAT005’s picture
RAT005 DownWithYogaPants Jun 12, 2016 1:28 PM
Can’t say you didn’t try….
People, 2 stories: 1 is USA military actually killing themselves as a result of the scum they are subjected to by Globalists.
Second story is banksters that are being suicided by Globalists.
JRobby’s picture
JRobby RAT005 Jun 12, 2016 2:30 PM
Lots of stories, all bad.
Linglishboy’s picture
Linglishboy Jun 12, 2016 12:46 PM
Another great Jim Willie forecast.
Snípéir_Ag_Obair’s picture
Snípéir_Ag_Obair Jun 12, 2016 12:55 PM
Texas sharpshooter’s fallacy?
How many bankers are there?
What are the suicide stats for the gen pop? White? Wealthy? Male?
And is the number of bankers who commit suicide significantly more?
Probably not, but if you pay attention to each time it happens, and ignore all the times it doesnt – it starts to seem like a real cluster.
ISawThatToo’s picture
ISawThatToo Jun 12, 2016 1:02 PM
“Why Are So Many Bankers Committing Suicide?”
“Why Are Not More Bankers Committing Suicide?”
Fixed it.
Wile-E-Coyote’s picture
Wile-E-Coyote Jun 12, 2016 1:05 PM
Who jumps out of a window backwards?
Vageling’s picture
Vageling Wile-E-Coyote Jun 12, 2016 1:18 PM
Someone who gets a little help in doing so.
But since the sheeple have barely enough IQ points left they actaully believe someone jumps out, makes a roll and lands on his back.
The top banking reptiles will have no whistleblowers on their watch. Duh! Not that I mourn for these slimy stealing weasels.
WmMcK’s picture
WmMcK Wile-E-Coyote Jun 12, 2016 2:37 PM
Apex now has a kit for that, didn’t you know.
CHoward’s picture
CHoward Wile-E-Coyote Jun 12, 2016 4:39 PM
No one.
exonomic halfbreed’s picture
exonomic halfbreed Wile-E-Coyote Jun 12, 2016 4:52 PM
A one and a half gainer with a full twist…..Excellent . Yea, it does not look like suicide by an intelligent creature. As for the hangings, these deaths are quite painfull. Most men, especially hunters and those with an education in biology, know that the least painfull death is by firearm resulting in the evacuation of the skull by high velocity munition. A note to hedgeless horseman: suicide among white men (especially over a certain age) is extremely high because they have a conscience. Lowbrows with much greater reasons to be sorry for their failures in life, continue to go on about their life doing more harm and feeling no remorse. I have always enjoyed the comments of HH but I do feel that your beef is off topic.
Automatic Choke’s picture
Automatic Choke Jun 12, 2016 1:13 PM
it is the nailgun’s fault. ban nailguns. also ban dog leashes and windows.
no ita lever’s picture
no ita lever Automatic Choke Jun 12, 2016 1:18 PM
Don’t forget cars, hammers, screwdrivers and scissors!
no ita lever’s picture
no ita lever Jun 12, 2016 1:23 PM
I rebuke the money changers, as Jesus did in the Temple. Their extreme ususry will be their own downfall, and as I’ve said before, will fall on their own swords. Of course it is a cover up to a degree, and some are being offed, the one’s who know the most. Lucifarians, I rebuke them all, overt and covert.
How would you like to be the person who planned and executed fraud, to hurt so many people? Would you jump too?
Their judgement day approaches, just like everyone else!
ybic
Wile-E-Coyote’s picture
Wile-E-Coyote Jun 12, 2016 1:29 PM
Hung by a dog leash and suicide notes in the dog basket. Great symbolism a message to others step out of line and die like a dog.
With billions at stake, a hit man is just a cost of doing business…peanuts in the great scheme of things.
me or you’s picture
me or you Jun 12, 2016 1:47 PM
Most of these banksters are pedophiles.
Skiprrrdog’s picture
Skiprrrdog Jun 12, 2016 1:59 PM
No, the real question is: why aren’t more or even all of them committing suicide? I guess If I were a banker, a quick, merciful exit would be better than swinging from a lampost, or worse…
atlasRocked’s picture
atlasRocked Jun 12, 2016 2:07 PM
They are killing themselves because they sold themselves to the devil when they accepted TARP.
Look what moral dilemma they were put in:
It probably went something like this:
Obama/Holder: ‘Listen, Mr. Banker – we’re going to bail you out so you get big bonuses the next few years, and we’re not going to jail you or the corrupt regulators for the laws you willfully broke, we know both of you were working hand in criminal hand. How about you just go along with our plans now, ok? ‘
Bankers: ‘What if we don’t want to be bailed out with TARP?’
Obama/Holder : ‘Well, then we press the charges we have already investigated against you, from the FCIC investigation. They said it’s slam dunk prosecutions.’
http://www.cbsnews.com/news/behind-the-financial-crisis-a-fraud-investig…
exonomic halfbreed’s picture
exonomic halfbreed atlasRocked Jun 12, 2016 5:25 PM
You have that conversation entirely backwards. Our presidents don’t give orders. They take them and then they stroll to the podium to let the people know that they will prortect them and provide for them. Frank Marshall Davis used to have a dummy on his knee. Who could that have been.
Al Bondiga’s picture
Al Bondiga Jun 12, 2016 2:20 PM
Right, “suicide.” They were suicided like Gary Webb-two gunshots to the head, ruled a “suicide.”
Would very much like to see the heads of the squid and other high level banksters starting to suicide themselves.
reader2010’s picture
reader2010 Jun 12, 2016 2:18 PM
Bankers? What fucking bankers are you talking about here? These were not bankers at all because they were simply bank employees, aka wage serfs.
Jethro’s picture
Jethro reader2010 Jun 12, 2016 3:20 PM
Its a start. Any port in a storm…
Dragon HAwk’s picture
Dragon HAwk Jun 12, 2016 2:39 PM
I’m waiting for the pace to pick up, maybe 3 a day like shooting stars, the more the better.. when the shit really hits the fan, they can clump them together.. The following financial experts died today… save space and Ink.
SmittyinLA’s picture
SmittyinLA Jun 12, 2016 2:41 PM
Proximity to THE ABENGOA seems to be a suicide risk factor.
toady’s picture
toady Jun 12, 2016 2:52 PM
Because they want to?
But seriously, they’re probably fakes so they can change their identities. About 50% are real to cover the fakes, and the rest become “Joe Smith” or “Bob Jones” who “got lucky with an internet start up and retired to (insert island/tropical paradise)”.
Fisherman Blue’s picture
Fisherman Blue Jun 12, 2016 2:57 PM
I really don’t give a fuck how many bankers kill self. It is a plus.
MellonBreath’s picture
MellonBreath Jun 12, 2016 2:59 PM
The only good banker is a dead banker, especially a Zionist one.
the.ghost.of.22wmr’s picture
the.ghost.of.22wmr Jun 12, 2016 3:11 PM
A nailgun is a gruesome way to go.
css1971’s picture
css1971 the.ghost.of.22wmr Jun 12, 2016 5:22 PM
You think so? My immagination goes way beyond nailguns.
lasvegaspersona’s picture
lasvegaspersona Jun 12, 2016 3:14 PM
If you study nature you would know that death by suicide is just part of the natural life cycle of bankers.
Jethro’s picture
Jethro Jun 12, 2016 3:19 PM
They say “so many”. i say not nearly enough.
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During the past few years we have extensively covered the odd rash of banker suicides, pointing out the various conspiracy theories linking various high-level bank executives and inside scandals at the very highest levels across Europe’s banks. It appears, once again, that those conspiracy theories are more real than many would like to admit as Michael Gray exposes, and one of the bankers’ sons questions, why are so many bankers committing suicide?
Authored by Michael Gray, originally posted at NYPost.com,
Three bankers in New York, London and Siena, Italy, died within 17 months of each other in 2013-14 in what authorities deemed a series of unrelated suicides. But in each case, the victim had a connection to a burgeoning global banking scandal, leaving more questions than answers as to the circumstances surrounding their deaths.
The March 6, 2013 death of David Rossi — a 51-year-old communications director at Monte dei Paschi di Siena, the world’s oldest bank — came as the institution teetered on the brink of collapse.
Rossi was found dead in an alleyway beneath his third-floor office window in the 14th-century palazzo that served as the bank’s headquarters.
A devastating security video shows Rossi landing on the pavement on his back, facing the building — an odd position more likely to occur when a body is pushed from a window.
The footage shows the three-story fall didn’t kill Rossi instantly. For almost 20 minutes, the banker lay on the dimly lit cobblestone, occasionally moving an arm and leg.
As he lay dying, two murky figures appear. Two men appear and one walks over to gaze at the banker. He offers no aid or comfort and doesn’t call for help before turning around and calmly walking out of the alley.
About an hour later, a co-worker discovered Rossi’s body. The arms were bruised and he sustained a head wound that, according to the local medical examiner’s report, suggested there may have been a struggle prior to his fall.
But the death was ruled a suicide to the disbelief of Rossi’s widow, Antonella Tognazzi. She was quoted in the Italian press as saying her husband “knew too much.” She staged public demonstrations and hired a lawyer to investigate her husband’s death.
Among the evidence Tognazzi pointed to was the alleged suicide note, in which Rossi referred to her as Toni. He never called her Toni, she said.
Two days prior to his death, according to his wife, Rossi sent a cryptic email to the bank’s CEO Fabrizio Viola. “I want guarantees of not being overwhelmed by this thing,” he wrote. “We would have to do right away, before tomorrow. Can you help me?”
It remains a mystery what specifically Rossi thought could “overwhelm” him just before his death, but many have speculated that he was referring to Monte Paschi’s troubled financial position.
Rossi was a close confidant to former bank president Joseph Mussari, who was the driving force behind Monte Paschi’s 2008 $7.5 billion takeover of Banca Antonveneta. Many banking analysts agreed at the time that Monte Paschi paid too much in the acquisition that Deutsche Bank financed.
The same year as Rossi’s death, European and US regulators began to probe what would become known as the Libor scandal, in which London bankers conspired to rig the London Interbank Offered Rate — an overnight interest rate that determines the interest banks charged on mortgages, and auto and personal loans across the globe. It also determines the rate banks like Monte Paschi pay for loans like the one it used to finance the purchase of Banca Antonveneta. The scandal would cost international banks — most notably Deutsche — nearly $20 billion in fines.
Additionally, Monte Paschi got involved in risky derivatives that took heavy losses during the financial crisis of 2008. The esteemed bank, founded 20 years before Christopher Columbus crossed the Atlantic, was being investigated at the time of Rossi’s death for its handling of billions in these risky derivative bets involving Deutsche Bank and Merrill Lynch.
In October 2014 Mussari and two other Monte Paschi executives were convicted by Italian authorities for obstructing regulators and misleading investigators on the bailed-out Italian bank’s finances in the wake of the acquisition of Banca Antonveneta. In January of this year, three executive from Deustche Bank were also implicated civilly, including Michele Faissola, the wealth management director the German bank—charged by Italian authorities of colluding with the troubled Monte Paschi in falsifying accounts, manipulating the market, and obstructing justice. Faissola denies these charges.
While at least 40 bankers have killed themselves in the 17-month period starting March 2013 in the wake of the global banking scandal, the circumstances of Rossi’s death — and two others — stand out as particularly mysterious.
In January 2014, the body of William Broeksmit, 58, a high-ranking Deutsche Bank executive, was found hanging in his London flat from a dog leash tied to the top of a door.
Financial papers were strewn about, and on a dog bed near the body were a number of notes to family and friends. One was addressed to Deutsche Bank CEO Anshu Jain, with an apology. But that note — never publicly revealed until now — offered no clue as to the reason he was sorry.
Broeksmit’s high-ranking colleague at Deutche was Michele Faissola, who arrived on the gruesome scene after Broeksmit’s wife told his stepson, Val Broeksmit, to phone him. He arrived minutes later, and began going through the bank papers and read the suicide notes.
“He did go to my father’s computer which was, at the time, I thought a little weird,” said Val Broeksmit.
There is no evidence Faissola was involved in any misconduct related to Broeksmit’s death, but the stepson said he still wonders what, if anything, Faissola was searching for. Faissola declined comment.
In emails provided to The Post by his stepson Val, Broeksmit had just messaged friends about his excitement to go on a ski vacation scheduled for a week later.
Although a report from Broeksmit’s clinical psychologist revealed that Broeksmit was “very anxious about authorities investigating areas of the bank at which he worked,” his depression over the Libor investigation the year before seemed to have lifted, according to a doctor who’d given him a clean bill of health a month before his death, said his stepson. Val found other unsettling facts while going over his father’s personal papers and e-mails.
“Yes he killed himself,” Val Broeksmit told The Post. “But there’s a question: could it be suicide by extortion, could it be suicide by pressure or saying if you don’t do this, we’re going to do this? There’s a couple suspicions I have.”
In early 2013, Jain planned to make Broeksmit chief risk officer for the entire bank. He was an expert in the esoteric field of derivatives, of which Deutsche had roughly $60 trillion worth on its books. But German banking regulators nixed the appointment because it said he lacked the requisite experience.
Broeksmit left the bank in June, but a few months later took a position in New York as a director of Deutsche Bank Trust Company of America, the US arm of the German banking giant. It was his reward for his long service after butting heads with German banking authorities.
DBTCA was the former Banker’s Trust, which Deutsche bought in 1998. It’s the custodial arm for wealthy clients to park money for trust funds and other long-term investing.
My father was the first to go
Deutsche Bank’s asset and wealth management unit was overseen by Michele Faissola, who along with Broeksmit reported directly to CEO Jain. But unlike most bank directors, Broeksmit’s natural curiosity and work ethic didn’t permit him to just turn up for a monthly meeting and cash a paycheck. He began to dig in, looking at the operation.
“[My father] didn’t just want to show up,” said Val Broeksmit.
A month before his death, William Broeksmit wrote — in what his son says shows his anger — to fellow executives asking why he should take the lead on a sticky matter of the upcoming Federal Reserve-mandated stress test for the bank.
He also questioned the “generous” loan-loss numbers being used by the bank, afraid that federal regulators would see the bank was losing more on loans than the books showed. Large losses could lead the feds to slap the bank with restrictions.
“Who is recommending that I do this? I am supposed to be an independent director and this puts me further into a role aligned with management,” he wrote.
Two years ago, the mystery of the banker suicides hit New York City. Calogero “Charles” Gambino, 41, a married father of two kids, was Deutsche’s in-house lawyer for 11 years at the bank’s downtown headquarters. He was working on defending the bank against Libor charges and other regulatory probes.
On Oct. 20, 2014, Gambino’s body was found by his wife Maria hanging from an upstairs balcony of his Brooklyn home, a neatly kept white brick townhouse in Bay Ridge with ornamental stone fretwork at the roof line. The rope was snaked through the bannister and tied off on the knoll post on the first floor.
There was no reported note and his tight-knit family has refused to speak about his death.
I believe he knew too much
The Post reached out to the widow numerous times only to be told by a Deutsche Bank spokesperson that his wife “did not wish to be disturbed and please remember she has two young children.”
The serious-looking, bespectacled banker was a New York success story — a graduate of St. John’s University and St. John’s Law School who spent two years working at the Securities and Exchange Commission as an enforcement lawyer. He then moved to the white-shoe law firm Skadden Arps as an associate for four years before taking the position at Deutsche Bank, where he moved up the ranks to become an associate general counsel and managing director.
In his work as corporate counsel for Deutsche, Gambino had dealings with many of the bank’s European executives — including Michele Faissola and William Broeksmit.
Mostly it was Gambino’s colleague, outside counsel Mark Stein of Simpson Thatcher, who had the direct contact. Stein, who declined to comment, advised Broeksmit and Faissola in 2012 and 2013 on the Libor probes. Deutsche Bank ultimately reached a settlement with the Department of Justice, paying $12 billion in fines, without any admission of liability.
Gambino’s death was ruled a suicide. In his case and in the cases of both Rossi and Broeksmit, probers never looked for, nor discovered, common threads.
But all three men worked for, or did business with, Deutsche Bank. Moreover, it appears that one or more of the scandals that enveloped Deutsche Bank and/or Monte Paschi since the financial crisis had crossed each of their desks.
It remains to be seen if the circumstances leading to Gambino and Broeksmit’s deaths will ever be re-considered. But questions are being asked and answered in Rossi’s case.
Late last year Italian authorities exhumed his body and reopened their investigation. A ruling on whether Rossi killed himself or was murdered is expected later this
monthttps://nypost.com/2016/06/12/why-are-so-many-bankers-committing-suicide/

































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Reblogged this on Lolathecur's Blog Below are two very important entries from the "Jewish Encyclopedia". Read them VERY CLOSELY..