Per the AIG facts: Joseph Cassano-style wheeler-dealers exploited and wrote more than $400 Million

Mike 03

(1000+ posts) Send PM | Profile | Ignore

Wed Mar-18-09 08:25 PM
Original message

Per the AIG facts: Joseph Cassano-style wheeler-dealers exploited and wrote more than $400 Million

worth of reckless CDOs (including at least $200 M subprime), ultimately covering $63 BILLION (no, that is not a typo) in illiquid collateralized debt obligations.

That's just a fact that is not in dispute. Timothy Geithner didn't cause it, Paulson didn't cause it, Bernanke didn't cause it, Larry Summers didn't cause it.

If we want to be taken seriously, we need to be serious and know what the fuck we are talking about when it comes to this economic crisis.

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