For those of you who have not picked up Yves Smith's book, ECONned, perhaps you've never heard of the Magnetar Trade.

In the wake of the Goldman Sachs civil fraud charge, Journalists and Bloggers are wondering and hoping where the next investigative shoe will drop. Hence, the Magnetar fund, a hedge fund of synthetic CDOs, where buttloads of CDS bets were placed against them, is being revisited.