Detailed text transcripts for TV channel - MSNBC - 20100427:11:47:00
>> it's going to be really, really interesting to see how they justify these synthetic cdos. now, let me translate what synthetic cdo means. it means we made up something that people can bet on. that's what it means. >> uh-huh. >> there's no societal benefit. they're not raising capital for a business. they are just creating something so people can bet on it with less regulation than las vegas. so, obviously, the derivatives chapter is very important for regulation and also being able to bust up these banks and sell them off if they get upside down. >> could i hire senator mccaskill? that was ...
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