A Game Changer or Same Old, Same Old…

Posted Under: In-depth
3 years ago

As you’ve seen on her Home Page, Blythe Masters, the very CEO of New York based Digital Asset Holdings, has been with J.P. Morgan for 27 years. Max Keiser calls her “Devils Incarnate” for her role in credit default swaps, a monstrosity she apparently invented. However, no one can denied that she’s a fascinating character. She also loves dogs.

From Oxford, U.K, Blythe Masters embarked to became “The woman who built financial ‘weapon of mass destruction,” as The Guardian called her. Masters was, the Guardian continued, “one of the most powerful women on Wall Street and is widely recognized as one of an elite group dubbed the “JP Morgan mafia” that fostered the creation of the complex credit derivatives at the heart of the current crisis ripping through Wall Street.

She created BISTRO, standing Broad Index Secured Trust Offering, which made the new rocket-science financial instrument sound like a place you went to for steak frites. The market came to prefer a different term: “synthetic collateralized debt obligations.” In a guide to understanding the instruments she had created, Masters sung their praises: “In bypassing barriers between different classes, maturities, rating categories, debt seniority levels and so on, credit derivatives are creating enormous opportunities to exploit and profit from associated discontinuities in the pricing of credit risk.”

That posh gibberish hides what Max Keiser was referring to, Exxon Valdez oil spill deal.  Blythe Masters, was in charge of the notorious Exxon Valdez deal, and of selling the very first BISTRO notes, and thus one of the creators of the entire credit-default-swap industry, “modern day weapons of mass destruction,” per Warren Buffet.

This is our new Blockchain Queen, coming from the glorious Wall Street and its Financial Crime Cartel swamp, to re-invent the new world. What say you?

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