NPR: AIG Junket And Firestarter Blame

AIG Junket And Firestarter Blame

Obama talked about AIG executives on a junket which was apparently true, but they were from the clean side of the company, the insurance side, not financial products division. That's an important distinction.

McCain says Fannie Mae and Freddie Mac lit the fire of the mortgage crisis. Most people would say that they played a part but there was much more to it than that. Securitization of mortgages played a big role because it meant mortgage servicers had no real incentive to impose strict credit standards on borrowers. And there were key players as well, like overly aggressive mortgage brokers.

-- Jim Zarroli

9:40 PM ET | 10- 7-2008 | permalink

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