Monday, March 30, 2009

How Michael Osinski Helped Build the Bomb That Blew Up Wall Street -- New York Magazine: "I have been called the devil by strangers and “the Facilitator” by friends. It’s not uncommon for people, when I tell them what I used to do, to ask if I feel guilty. I do, somewhat, and it nags at me. When I put it out of mind, it inevitably resurfaces, like a shipwreck at low tide. It’s been eight years since I compiled a program, but the last one lived on, becoming the industry standard that seeded itself into every investment bank in the world.

I wrote the software that turned mortgages into bonds."

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Read the sordid story for yourself. Plus you can see Osinski at work in his new occupation: oyster farmer.

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