From 1995 until march 2001 John Key worked for Merrill Lynch. His job, as stated on his official website, was head foreign exchange and head European Bonds and derivatives. That is a powerful job. In 2001 he was invited to become an member of the Foreign exchange committee. This is a committee that advises the federal reserve of NY.
The Federal reserve of NY is contrary to what most people think not a federal institution but a private banking corporation. John Key lived mostly in New York even though his main residence was listed as being in London.
Bonds and derivatives are exactly the products that are now causing the worlds credit crisis. This is what John Key made most of his money with. His colleagues had a term of endearment for him. They called him the “silent assassin”. Ask yourself: Is this the man you think is the right man for the job of prime minister of New Zealand?
Representatives of five of Wall St’s dominant investment banks gathered around a blond wood conference table on a February night almost three years ago.
Their talks over Chinese takeaways led to the perfect formula for a United States housing collapse.
The host was Greg Lippmann, then 36, a fast-talking Deutsche Bank AG trader who aspired to make mortgage securities as big a cash cow for Wall St as the US$12 trillion ($15.58 trillion) corporate credit market.
His allies included 34-year-old Rajiv Kamilla, a trader at Goldman Sachs Group with a background in nuclear physics, and Todd Kushman, 32, who led a contingent from Bear Stearns. Representatives from Citigroup and JPMorgan Chase were also invited.