AIG Hearing - On Credit Default Swaps

Submitted by Robert Oak on Sat, 10/11/2008 - 16:34

This is a must watch and it just might scare the shit out of you. The Committee on Oversight and Government Reform held a hearing on AIG.

Eric Dinallo, who is with the New York State Insurance Deparmtnet spells out the trouble with CDSes (Credit Default Swaps), specifically Naked CDSes. It's about 5 minutes into the video.

Lynn Turner also gives some insight on what's wrong with the financial system, which so far has not be directly addressed at the Federal level.

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fight for global domination

Submitted by Robert Oak on Sun, 10/12/2008 - 12:29.

Financial Sense, which could be tin foil hat, is reporting on global domination wars at the G-7.

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