Showing posts with label CDS. Show all posts
Showing posts with label CDS. Show all posts

Monday, June 15, 2015

The Mother of All Problems | Blythe Masters

She increased the derivatives exposure to USD 70 Trillion -
J.P. Morgan's CDS-Guru Blythe Masters:
"Don't Panic. No one's going to get screwed." (HERE & HERE)
Aged 22, smart Blythe Sally Jess Masters joined J.P. Morgan Chase and invented the modern Credit Default Swaps

This not only earned her the title ‘J.P. Morgan's Credit Derivatives Guru’. She was promoted to serve as the bank's Head of Global Credit Portfolio. Finally she ended up being Chief Financial Officer of J.P. Morgan's Investment Bank and Head of Global Commodities (HERE).

Earlier this year Ms. Masters decided to set her sights on the final financial frontier: She is now CEO of Digital Asset Holdings, a Bitcoin-related start-up seeking to streamline financial transactions (HERE).

Hitting the Fan | Deutsche Bank in Pre-Infarct State of Imminent Bankruptcy

On June 7, immediately following Greece’s missed payment to the IMF,
Deutsche Bank’s two CEOs announce their surprise departure from the
company (HERE)
Deutsche Bank is the 12th biggest bank worldwide and harbours USD 75 trillion in derivatives bets — an amount twenty times greater than the German GDP (USD 3.64 trillion in 2014). Deutsche Bank is the world’s largest  holder of derivatives exposure and dwarfs J.P. Morgan’s exposure by USD 5 trillion (HERE). Deutsche Bank - along other global banks - was engaged in a slew of corrupt practices from manipulation of interest rates (for which the firm was fined USD 2.5 billion in April 2015), to tax evasion and money laundering to “mis-selling” of derivatives

If Greece defaults at the end of June, Deutsche Bank will lose 50 to 100 billion Euros in Greek bonds and be caught off-side in its derivatives positions. And there is no government nor institution on earth to bail it out
More HERE