10/18/2011
https://www.congress.gov...
"This notion of selling a product that you are betting against is hard for people to understand."
"I wish we had done more to get there."
"There is nothing in a synthetic CDO that is essential to certainty to anybody's business other than somebody just deciding they want to take one side of a deal and the other side of a deal."
"None of that seems like even-steven. None of that seems like you are an honest bookie who is trying to manage risk on both sides."