"It could be structured by cows"

The Wall Street Bankers knew as long as two years ago that they were building a house of cards. They gloated that they knew the fix was in for everyone else but they were profiting. 60 Minutes actually did its job here, and Sunday presented Treasury Secretary Hank Paulson with copies of the e-mails they had obtained that revealed the Bankers' and the Raters' venality in the extreme. Among other things:

"It could be structured by cows and we would still rate it"

And

"Let's hope we are all wealthy and retired by the time this house of cards falters."

The reporter asked Paulson, Why are we bailing these people out?"

Skip to 10:49 for the reporter question and Paulson's answer


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