Gambling.bmp“60 Minutes” this past Sunday devoted its lead segment–”The Bet That Blew Up Wall Street”–to an indictment of how “casino capitalism” and a negligent Congress allowed unregulated trading in credit default swaps to trample our financial system in a stampede of blind greed, with AIG the poster child for all that went wrong.

New York Insurance Superintendent Eric Dinallo got plenty of face time in the devastating 12-minute segment about CDS derivatives, which CBS noted that Warren Buffet once called “financial weapons of mass destruction.” (Click here to read the full transcript or view the video.)

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