I worked on Credit Default Swap calculators and infrastructure to support real-time valuations. Just before and during the 2008 meltdown. At least 3 big banks

I worked on Credit Default Swap calculators and infrastructure to support real-time valuations. Just before and during the 2008 meltdown. At least 3 big banks were using the software I helped make. To paraphrase, the things people were doing with CDSs were analogous to taking out an insurance policy on your neighbors home, and then burning the home down and collecting the insurance.