Flashback:
– Blythe Masters: JPMorgan Employee Who Invented Credit Default Swaps is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade
– Define Irony: “The J.P.Morgan Guide To Credit Derivatives” By Blythe Masters (ZeroHedge, July 13, 2012):
As readers enjoy JPM squirm his way through the JPM conference call (webcast live) explaining how it is that he not only was fooled by the CIO traders to the tune of billions, but more importantly to mismark hundreds of billions in CDS over the years, here is some delightful irony: “The J.P.Morgan Guide To Credit Derivatives” By Blythe Masters. Because it is truly ironic that the firm which created CDS will be the one responsible for destroying them.