The scale of the subprime lending problem and resulting financial crisis developed because the pool of money available for lending was replenished through CDO’s backed by credit default swaps issued by AIG. In effect, AIG issued the subprime lenders a credit card so they could keep issuing subprime loans -- and gave large bonuses to the managers who thereby destroyed the company.
ACORN and Obama and Barney Frank and Chris Dodd, Thats WHO!