IF traders were the "masters of the universe" in the 1980s, then private equity and hedge fund managers have achieved that status today.
For now, according to the document, the enforcement officials plan to recommend that the commission hold the traders and Ms. Masters "individually liable".
During the market boom of the 1980's, Salomon's top traders, self-appointed "masters of the universe," took the biggest risks and reaped the biggest rewards on Wall Street.
Since the regulator's findings surfaced, JPMorgan has defended Ms. Masters and the traders, disputing that "Blythe Masters or any employee lied or acted inappropriately in this matter".
Benfica have now joined their arch-rivals Porto in being recognised around Europe as master traders.
In her role as commodities chief, according to the March document, Ms. Masters oversaw traders in Houston who were in a vexing position: selling electricity from power plants in California and Michigan was a losing endeavor.
These days, hedge fund managers and private equity bosses, not fixed income traders, are the new masters of the universe; but the dramatic sell-off in the bond markets over the past few weeks could have more momentous consequences than even the boldest private equity coup.
Never mind that even the master trader himself lost $392,558 day-trading for All-Tech in 1998.
In a world where, as the epigraph from Zbigniew Herbert puts it, a rat has become the unit of currency, Packer is King Rat, a solipsistic trader in futures, master of an amoral universe.
American public and private sector leaders in particular should contemplate the words of the 25th president, William McKinley, who, in 1892 when the U.S. was still one of the most protectionist countries in the world, said: "Under free trade the trader is the master and the producer the slave.
