How Blythe Masters pioneered the credit default swap

Blythe Masters © Getty images
Has Blythe Masters been made a scapegoat?

Three decades ago, when Blythe Masters was a horse-mad teenager from Kent, she worked as an intern in the JPMorgan Chase derivatives unit, says the FT.

“She became hooked” and, over the next 27 years at the bank, earned both “acclaim and notoriety” as a pioneer of credit derivative products. Masters never had a hand in developing the mortgage credit derivatives that proved so deadly in the credit bubble.

She left this [...]

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