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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (104400)	2/7/2014 8:39:32 PM
From: TobagoJack	Read Replies (3) \| Respond to of 217979

am guessing that her appt was sanctioned by those who knew of her sordidness and sanctioned it anyway, and given the i-net feedback and surely eventual accountability, wisely withdrew her presence at cftc, but only to bide time and find a more suitable but equally critical position to be hijacked re cftc, am guessing that the nemesis of the people shall now either tee-up someone utterly unqualified for the job and to be overwhelmed by minutia, or someone just as qualified as blythe masters but more clever to hide his/her sordidness bottom line, the "people" are absolutely not allowed to win

To: ggersh who wrote (104400)	2/7/2014 8:40:54 PM
From: carranza2	Read Replies (1) \| Respond to of 217979

Don't be so sure. She's probably now going to run the JPM commodities spinoff. She certainly revealed her friendship with Wetjen. He'll treat her right and so will she. Apparently some Dem lawmakers objected. She'd be to embarrassing to them, for obvious reasons. From the online wsj: WASHINGTON— J.P. Morgan Chase JPM +0.25% & Co. commodities chief Blythe Masters withdrew from a regulator's advisory panel a day after her appointment was disclosed amid Democratic lawmaker objections to her involvement, people familiar with the matter said. The lawmakers expressed concern about Ms. Masters's participation in the Commodity Futures Trading Commission panel given her role presiding over a unit accused of manipulating power markets. Last summer, J.P. Morgan paid a $410 million fine to settle the accusations by a federal electricity regulator. The settlement prompted the Justice Department to open its own investigation of the firm's energy practices. The bank didn't admit any wrongdoing as part of the settlement. The CFTC's disclosure Thursday that Ms. Masters had been appointed to its global markets advisory committee prompted calls to the CFTC by aides to senior Democratic lawmakers, the people familiar with the matter said. Lawmakers and their aides were "surprised" that a regulator would invite an individual whose division allegedly manipulated markets to act as an adviser on the regulation of commodities, one Senate Democratic aide said. Acting CFTC Chairman Mark Wetjen and Ms. Masters spoke by phone and both agreed her appointment "wouldn't be good at this time," a CFTC official said. Mr. Wetjen had earlier invited Ms. Masters to participate on the panel. Mr. Wetjen declined to comment through a spokesman. A J.P. Morgan official said Ms. Masters's decision to step down came after she realized the workload associated with the sale of the bank's physical commodities business would make it hard for her to participate on the panel. The bank plans to complete the sale in the first half of 2014. The official said the bank would offer another executive to serve on the panel. The global markets committee, which includes industry executives, consumer advocates and academics, advises the CFTC on the overseas application of the agency's rules. It is set to meet Wednesday to discuss the CFTC's plan to impose its swaps rules overseas, something big banks have largely opposed. While in her 20s, Ms. Masters was among the team of J.P. Morgan bankers who helped breathe life into the market for credit-default swaps, which aided the bank in removing risk from its books. Credit-default swaps are insurance-like contracts that pay out when a country or company defaults on its debt. The CFTC has pushed to make the swaps market more transparent and safer in the wake of the financial crisis, when banks' swaps trades soured. The CFTC's efforts have prompted blowback from the industry, particularly guidance clarifying that overseas banks must adhere to CFTC rules if they book a swaps deal abroad but use U.S.-based personnel to arrange, execute or negotiate the transactions. Three industry groups have filed suit against the agency over its guidance. The global markets panel includes executives from other large banks, including Robert Klein, managing director and associate general counsel at Citigroup Inc., C +2.26%and Samara Cohen, managing director of the securities division at Goldman Sachs Group Inc. GS +0.11%