An Ex-LTCM Trader Will Be Overseeing $70 Trillion In Derivatives
We wish to welcome former LTCM trader, and current TBAC chairman, Matt Zames to his new post as head of the world's biggest, government backstopped prop trading desk, with a hearty and sincere "good luck." Because an ex-LTCMer in charge of ~$70 trillion in derivatives? Why, what can possibly go wrong...
Well, maybe this?
Finally, we urge readers to go easy on the JPM HR department: obviously all the JT Marlin traders were currently gainfully employed elsewhere and unable to step in and fill Ina Drew's very big shoes.