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Thursday, June 13, 2019

The Muslim Pakistani In Charge of Extraditing Assange, Was In Charge Of CDO's That Blew up SubPrime in 2007 Allowing Obama to Snake In

He was making like $3M per year while setting up the world for a financial blowup.

In the autumn of 2006, Javid was sent to Singapore to lead Deutsche’s credit trading in Asia. That meant, according to the financial magazine Euromoney, that he was in charge of, among other things, collateralised debt obligation (CDOs) – a financial product that was soon to get a very bad name for itself in the coming crisis.

Earlier this year, Euromoney highlighted Javid’s role in the controversial pre-crash trading of CDOs. Speaking to a reporter in 2006, Javid had said of emerging-market CDOs:

“As long as investors understand the risk/rewards of an emerging-market CDO, they are very appropriate.”

That line is now described by a senior debt market reporter as “hilarious”.

As the magazine put it: “One former Deutsche Bank colleague expressed amazement to Euromoney at how Javid ‘is spinning his former career’ as a sober investment banker as opposed to a structured credit trader at the heart of the business that precipitated the global financial crisis.”

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