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