Zero Hedge has posted on its own web site and as a guest post at Naked Capitalism some explosive charges regarding the mechanism by which AIG allegedly raped shareholders, with the approval of Mr. Geithner.
The language is harsh and the conclusions appear reasonable, at least to this non-trader in the securities described.
The simplest way to read this is to go to www.zerohedge.blogspot.com:
Zero Hedge is rarely speechless, but after receiving this email from a correlation desk trader, we simply had to hold a moment of silence for the phenomenal scam that continues unabated in the financial markets, and now has the full oversight and blessing of the U.S. government, which in turns keeps on duping U.S. taxpayers into believing everything is good.
The above is enough of a teaser. Non-technical people can skim over what they don't understand. There is a layman's explanation later after a bunch of technical stuff.