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South Korean Bank Chief Apparently Kills Himself

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http://www.nytimes.com/2011/09/24/world/asia/south-korean-bank-chief-apparently-kills-himself-police-say.html?ref=business

SEOUL, South Korea — The head of a South Korean savings bank appeared to have jumped to his death on Friday, police officials said, as prosecutors expanded their investigation into an alleged corruption scandal by raiding his and six other banks and seeking to arrest a former senior aide to President Lee Myung-bak.

Jeong Gu-Haeng, president of Jeil 2 Savings Bank, was found dead after apparently jumping from his office on the sixth floor of the bank’s headquarters in downtown Seoul, a police spokesman said, insisting on anonymity until his agency made an official announcement. People who were entering the bank witnessed Mr. Jeong falling, the spokesman said.

“He apparently jumped from his office,” he said. “It looks like a suicide.”

The man jumped as prosecutors, police and bank regulators raided seven savings banks, including Jeil. They were searching for evidence of alleged irregularities by their executives and major shareholders, such as excessive loan extensions and bribery.

Is there likely to be a massive crisis in South Korean banking? What's been going on over there?

Although I'm sure that there are many who would like to see more head bankers take this option.

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Well, at least the bank won't consider him a falling asset?

(Kinda feel guilty saying this too 0.01%!!)

Edited by Davetolbooth

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Don't you feel a little guilty saying this?

I don't see why he should, hari-kiri has long been a tradition in Asia for those who have brought shame upon themselves, and perhaps it would be better if senior politicians and bankers in the UK had the same high moral standards.

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I don't see why he should, hari-kiri has long been a tradition in Asia for those who have brought shame upon themselves, and perhaps it would be better if senior politicians and bankers in the UK had the same high moral standards.

I was pulling his plonker Harry. I don't give a fiddle...to my shame :unsure:

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http://www.nytimes.c...ml?ref=business

Is there likely to be a massive crisis in South Korean banking? What's been going on over there?

Although I'm sure that there are many who would like to see more head bankers take this option.

There already is a crisis. Some banks, including the second largest, have had their banking licences revoked. I guess people will start withdrawing money even from the completely solid banks just in case they are next, or end up being next because everyone else is withdrawing their money.

http://www.bbc.co.uk/news/business-14967604

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There have been bank runs in S. Korea since wednesday. Seems to be just a local difficulty....

Fully contained...

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There already is a crisis. Some banks, including the second largest, have had their banking licences revoked. I guess people will start withdrawing money even from the completely solid banks just in case they are next, or end up being next because everyone else is withdrawing their money.

http://www.bbc.co.uk...siness-14967604

Banks have been hit by a downturn in the real estate market, which saw construction loan defaults increase.

F'ing property bubble was everywhere.

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I believe S Korea has some of the most restrictive planning laws in the world.

That's what we always hear in the middle of a credit fueled bubble.

I doubt banks fail because of planning restrictions.

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Let me guess another Rogue Trader?

When Kweku Adoboli (UBS Rogue Trader) handed himself in, the following week, the markets ended 5%+ down.

I'd expect another "revelation" next week.

In a Gordon Brown accent, I say this crisis is "GLOBAL". In the words of Sir Evelyn in 2007:

roths.jpg

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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