Oops: How Michael Osinski helped start the financial meltdown

Thursday, April 02, 2009

One way to get your head around exactly what happened with the mortgage crisis is to look at the tools that made it happen. Michael Osinski started out with a job in data entry to support his sick wife. A decade later, he found himself on Wall Street writing the software that let traders turn plain old mortgages into bonds. You could say it’s thanks to him that we all know the arcane term turned dirty word: mortgage-backed security. Osinski joins The Takeaway this morning to talk about his role in the financial meltdown and his new life as an oyster farmer.

For more, read Michael Osinski's article, My Manhattan Project: How I helped build the bomb that blew up Wall Street in this week's New York Magazine.

See Osinki at his new job as an oyster farmer in the video below.

Guests:

Mike Osinski

Hosted by:

Femi Oke

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