Political Quotes

Jackie Speier: The hardest thing to try to explain to the American people is what is a synthetic CDO and liken it to what goes on in…

On the recordApril 28, 2010
The hardest thing to try to explain to the American people is what is a synthetic CDO and liken it to what goes on in our lives. So I have been scratching my head trying to think of what it would be like. This may not be a good analogy, but I offer it up. It would be like a doctor going in and doing open heart surgery knowing that his patient was very close to death anyway, and then taking out a life insurance policy on that patient because he was clearly going to win each way.
Said by
Jackie Speier
Democratic · California
Source
govinfo.gov
Apr 28, 2010

Editor's note · Context

The speaker is explaining the complexities of synthetic CDOs using an analogy.

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