Woman who invented CDSs - Key architect of Cap and Trade

[FreakinDJ]

Now what could possibly go wrong

Woman who invented Credit Default Swaps is one of Key Architects of Carbon Derivatives

The banks are preparing to do with carbon what they’ve done before: design and market derivatives contracts that will help client companies hedge their price risk over the long term. They’re also ready to sell carbon-related financial products to outside investors.

Masters says banks must be allowed to lead the way if a mandatory carbon-trading system is going to help save the planet at the lowest possible cost. And derivatives related to carbon must be part of the mix, she says. Derivatives are securities whose value is derived from the value of an underlying commodity -- in this case, CO2 and other greenhouse gases...

Who is Blythe Masters?

She is the JP Morgan employee who invented credit default swaps, and is now heading JPM's carbon trading efforts. As Bloomberg notes

Masters, 40, oversees the New York bank’s environmental businesses as the firm’s global head of commodities...

As a young London banker in the early 1990s, Masters was part of JPMorgan’s team developing ideas for transferring risk to third parties. She went on to manage credit risk for JPMorgan’s investment bank.
http://www.washingtonsblog.com/2009/12/woman-who-invented-credit-default-swaps.html

I'm with Obama on this issue - We need to reduce Green House Gases but we need to do it in a way that does not stifle innovations of Green Technology while at the same time rewarding the heaviest Green House Gas Polluting Countries

[Oregone]

1. Doesn't the EU have up to a 90% fraud rate

Article was just posted here.


Here is the link: http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=7211265