The CDS's did not cause this mess... poor people did. Just ask that mountain of knowledge, Larry Kudlow. You might remember him as the guy that called Paul Krugman a "housing bubble head".
TPMMuckraker Talking Points Memo AIGers Who Sold Risky Deals To Get Millions In Bonuses: "AIG, the insurance giant that was essentially nationalized in September, has confirmed to the Associated Press that it's paying bonuses to employees who sold credit default swaps -- the very deals that helped cause millions in losses, leading to the company's collapse."
Wednesday, January 28, 2009
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