I admit I'm naive when trying to understand the financial crisis we're undergoing but after watching Jim Cramer on Mad Money tonight, I was stunned at the piece he did on Sell Block: Hedge Funds Cash In on AIG.
Here's a link to the article and the Video of the segment (the video is much more thorough than the text portion):
Mad Money: Sell Block: Hedge Funds Cash In on AIG - Sell Block Archive - CNBC.com
Is this an accurate version of what really happened?
I have a fair understanding of CDS's and their impact but this is the first I heard about the connection between Hedge Funds managers, Lehman Brother's and AIG.
Did the SEC really let this happen or were they naive like me?
If this is accurate why is it not getting more play? Will it after October 21st?:confused: