by John McHaffie
March 16, 2012
Over 20,000 resignations/house arrests are visible using data from the SEC Securities and Exchange Commission.
The Securities Exchange Act of 1934 requires that publicly traded companies must report to the SEC whenever a member of the Board or certain officers resign. Also, the SEC has a database named EDGAR that is open to the public. After a little research, what was discovered is that corporations must report said resignations on Form 8-K, Item 5.02. From there, it was a simple matter of searching only Form 8-Ks within a specific range of dates, and including the boolean search terms “Resigns” and “Resignation”.
I felt this would at least offer us a baseline comparison to see if there is truly an uptick in resignations, or if it just appears that way. I think you will be interested in the results.
From the start of 2008 to the second quarter of 2011 the resignations remained steady @ about 2000 per quarter.
Suddenly in the 3rd quarter of 2011 they increased by 50% to 3000 for that quarter. (That’s an extra 1000). Then in the 4th quarter they jumped to 7000. (That’s an additional extra 5000 resignations). Now without the full quarter results for the first quarter of 2012 they are up to 16,000. (That’s an extra 14,000 resignations & increasing fast).
That’s a total of 20,000+ extra resignations that no one is reporting in news papers & nothing of course in the major media!
These are people who were in sting situations but didn’t know it when their opportunistic thefts of funds became a trap providing evidence of their wrong doing. Reports of their resignations usually involve house arrest in many cases including inability to leave the country. Full exposure of their crimes will follow in due course. This involves financial houses and banks worldwide.