Obama Announces Nomination Of New Head Of America's $230 Trillion Derivative Pyramid - Live Webcast

Tyler Durden's picture

With Kill-Bill body-double Chilton fading poetically into the dark, and Gensler gone, President Obama is set to nominate Timothy Massad to the Chairmanship of the CFTC. We can't wait to hear how the man who was responsible for bailing out the banks at any cost, will now make sure these same banks don't do anything bad again. And he will also, somehow, "supervise" America's $234 trillion in derivatives and make sure nothing bad ever happens there too?

Somehow, we are a little skeptical. Sure enough: "The party-line split on the commission would probably delay votes on contentious Dodd-Frank regulations." In other words more of the same "nothing must change" hard line stance the CFTC has so sternly pursued since the crisis, and before.

The President is due to speak at 1520ET


Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
hugovanderbubble's picture

CDS market and ABS;RMBS, CDO´s to explode...

ISDA org corrupted


TruthInSunshine's picture

What's the Mossad's relationship to America's 230 trillion in credit derivatives?

Is this sorta' like the missing trillions & lost top secret records that resulted from the WTC towers falling, along with pulling # 7, with Rumsfeld, Feith & Richard Perle (of PNAC fame) in the shadows, that the tin-foil-hat crowd rants on about?

{scratches head in a puzzled fashion}


dryam's picture

My guess as to the primary motive for NSA and all the spying, etc. that is going on is try to stay one step ahead of a total global financial collapse with the U.S. being the epicenter.  The derivatives market is like a 1 mile high Jenga game and it could only take the smallest of players at the table to set things off.

Rusticus's picture

In the spirit of diversity I was expecting the nomination of  a Rastafarian ?

chemystical's picture

...or ANY gentile.  Apparently the TPTB run into their synagogue, look around, and say, "Your turn".

Might as well copyright the name Rent-A-Reptile.

To those who'll inevitably call me an anti-Semite (nevermind the complete BULLshit of calling yourselves 'semites')...how long do you expect everyone to be blind?  The odds of  Lew succeeding Geithner: 2500 to 1.  Ditto Massad and Gensler.  Ditto Ditto Ditto Ditto.  Start wearing yellow stars of david and America will think it up woke up in Tel Aviv.  Fuck you.

Sufiy's picture

Send him this video, please

Capitol Account: GATA Chris Powell On Gold And Silver Manipulation 

Why The System is so concerned now with its exposure of the Gold and Silver market manipulation? We continue to dig out the available information for your own conclusion. Chris Powell provides very simple explanation - these markets are manipulated by the Government agents themselves.   Infamous PPT comes to light in this conversation as well - under the law Exchange Stabilisation Fund is exempt from the Freedom Information Act and any market supervising at all. http://sufiy.blogspot.co.uk/2013/11/capitol-account-gata-chris-powell-on...

Dollar Bill Hiccup's picture

Ha, saw this link posted 7 minutes ago, first reation was I've already missed it, then of course, nah, it's Potus, the guy who took the word prompt right out of teleprompter ...

ParkAveFlasher's picture

This fekker is late AAAGAIN.

TruthInSunshine's picture

151st round of golf in 5 years?

ParkAveFlasher's picture

To my left, a man who looks kind of like a rat.  To my right, a man who looks kind of like a rat.  Say, these are two good rat-looking folks!


Do Gensler & Massad look like weird twin brothers or is it just me?

Seasmoke's picture

Most dual citizens do look alike. And they also prefer Israel over the USA.

chemystical's picture

what was the name of that movie with Charlie Sheen where the terraforming aliens had human facades?  Sheen noticed that some of the facades were duplicated over and over.  Guess the reptiles have only so many to choose from.

chemystical's picture

it's curious how the older they get, the more obvious their reptilian genotype becomes.  (Frog, lizard, and turtle are the most common) As youths they have the ability to more closely mimic their environment (aka hosts), but after a few decades the features of their specific genotype express themselves in more obvious ways.  If you classify them, you'll find that 99.99% belong to one of 5 possible types. 

Dollar Bill Hiccup's picture

I gave up smoking choom decades ago, but if I could get what he's smoking, man on man ...

Dollar Bill Hiccup's picture

When I did this. My this. My that. I did this. I did that.

You ....

Pairadimes's picture

Nothing says "Clusterfuck!" like a $16 trillion economy with $234 trillion in derivatives. I think I would rather be in charge of the Fukushima cleanup.

29.5 hours's picture



Don't be a pessimist. In theory, all those derivatives cancel each other out, right? So if the next crisis operates at 99% efficiency (our leaders are up to that) then we only end with 2.34 Trrrrillion dollars we need to scrape up to make the banks whole.



buzzsaw99's picture

pure comedy genius!

AgileArjuna's picture

Massad did 9/11 ;)

FiatFapper's picture

Which bank will Gary Gensler now work for?

waterhorse's picture

Goldman?  He was the youngest ever to make partner, at the time.

ILikeBoats's picture

Does the guy look like a mini-Chertoff to you?

Colonel Klink's picture

I see the family resemblance.  So yes.

Seasmoke's picture

How long before this Tribesman is saying he is sorry.

q99x2's picture

This is a conspiracy.

moneybots's picture

"And he will also, somehow, "supervise" America's $234 trillion in derivatives and make sure nothing bad ever happens there too?"


I thought the House voted to dergulate derivatives trading.  So for how long is have going to have derivatives to supervise?


mobydick's picture

Supervise, what the f.... does that mean? I've marked this to infinity and my counter party has marked this to infinity, so they cancel each other out and it's all good?

mobydick's picture

Supervise, what the f.... does that mean? I've marked this to infinity and my counter party has marked this to infinity, so they cancel each other out and it's all good?