Detailed text transcripts for TV channel - MSNBC - 20100504:20:48:00
Expert in the area of credit derivatives. has the money been paid back? >> well some of the money has been paid back. certainly what it took to bail out aig, the investment banking side of aig, not the insurance side, has not been paid back. and that's because congress permitted these institutions to sell psuedo insurance, psuedo securities, psuedo banking products. at a completely unregulated rate. right before the abrogation of glass-stegall. before putting in a law that permitted to us sell derivatives, not just for hedging purposes, but for substitutions for core financial products. you co...
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