March 29, 2009 8:22 PM
In a guest post at Naked capitalism, Tyler Durden, publisher of Zero Hedge, builds on his breaking story that AIG sold securities (unwinding large portfolios of CDS’s) at ridiculously low prices to the money center banks so the banks could make those much ballyhooed assertions of profits in January and February which sparked a rally in bank stocks. Approximately $1 to 2 billion per bank was made on these shenanigans. This conspiracy is clearly undertaken with the full knowledge of the Obama Administration. If this is confirmed by other sources, there should be resignations and prosecutions over this…
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