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These guys they are having testify are the traders who traded and purchased the mortgage backed securities, dirivatives etc.
Bwarney Fwank and Chris Dodd along with their committees and the congressional black caucus push Fannie and Freddie to create incentives to purchase the higher risk loans bundle them up and sell them to the above players.
So, whos to blame? the ones that bought and sold the junk or the ones who made the junk? Either way, Bwarney Fwank and Chris Dodd have a major role in the financial meltdown.
Another rat got away. How is it that the US Department of Justice and SEC cannot find any basis to charge this guy and others like him for crimes? The damage they have done will last long after their names are forgotten. All the corporate ‘victims’ of Cassano’s fraud were made whole by the taxpayers, and AIG’s officers and shareholders will walk away whole.