Editor's note: According to testimony given by AIG exec Liddy, the Federal Reserve "decided we should pay 100 cents on the dollar". (Towards the end around 02:30:00)
Other highlights: Rep. Kaptur wants documents from Goldman Sachs and she seems to be on the right track....follow the money. The best part starts around 56 minutes in when Rep. Kucinich rips into Liddy. It's a long video but you can use the Search Text feature to skip around to all the best parts.
GoldmanSachs666 Message Board
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia