Masters of Destruction

Blythe Masters may not be a household name just yet, But this plucky Brit may yet become the Marie Antoinette of the 21st century.

Ms. Masters as a young banker in the City of London worked on the risk desk of JPMorgan Chase. She is said to be the mother of the credit default swap as a vehicle to push risk out to third parties and thereby allow the creation of exponential risk through leverage and diversifing the pool of available stooges clients. Ms. Masters team is “credited” with creating $4 trillion in credit derivatives annually for over 5 years.

I would think that a person with this on her resume would be persona non grata  in financial circles. If fact I would think such a person would be prosecuted for creating a multi-trillion dollar ticking time bomb with exposure that will take decades to unwind.

But let’s face it these are not normal. No not in the least.

Ms Masters, 39,  has moved on in her career at JPMorgan. She was promoted to CFO Investment Banking. She also has a new plan for “helping” the world.

It seems Ms. Masters is working on creating a market for carbon derivatives under the guise that her idea will lower greenhouse gases. Ms. Masters believes that if she can spread the exposure to carbon reductions she will be able to drop output further.

Now we all know that carbon trading is built on one premise to make banks rich on trading schemes. we also know that the following player are big in the trading platform in Chicago.

Goldman, JPM, Citi, Gore, Hank Paulson, MF, and hundreds of other players and companies that do not care a lick about GHG.

Some in Congress have raised a red flag to carbon derivative trading, but with the backing behind this and its pedigree, we should all keep an eye on this woman.


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