NEW YORK (TheStreet) -- JPMorgan Chase (JPM) commodities chief Blythe Masters resigned from a regulatory advisory committee a day after her appointment, having essentially been booed off the stage in a scenario that resembles the bank's #AskJPM Twitter fiasco.
The high-profile executive, arguably one of Wall Street's most powerful women, "has withdrawn her name and participation from our global markets advisory committee," said Commodity Futures Trading Commission spokesman Steve Adamske.
Two JPMorgan spokespeople declined to comment and email messages to Masters weren't returned.
Masters' withdrawal comes after widespread online jeering in the comments section of a Bloomberg News report, on the website zerohedge, and of course on Twitter, where even before this latest issue came up there was a fake Blythe Masters account.
As adviser to the @CFTC, my only goal is financial stability. Or as I like to put it: "Making banks even more too bigger to fail."Blythe Masters (@FakeBlythe) February 6, 2014
JPMorgan is in the process of selling its commodities division, following scrutiny in the press and among Congress and regulators of banks' commodities trading activities. Banks aren't technically supposed to be in the commodities business, but they have been given waivers for years -- an issue regulators are now reviewing in the face of widespread criticism. Morgan Stanley (MS) and Goldman Sachs (GS) have had hugely profitable commodities trading units for more than 20 years, while other banks, including JPMorgan Chase, beefed up commodities trading over the past decade or so. Morgan Stanley has also been making efforts to sell its commodities trading unit, while Goldman Sachs so far has sounded more defiant in its efforts to stay in the business.