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FBI Seeks Fraud in Companies' Collapse

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Generic Other Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-24-08 12:23 AM
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FBI Seeks Fraud in Companies' Collapse
WASHINGTON (Sept. 23) - The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, The Associated Press has learned.

Two law enforcement officials said Tuesday the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac , and insurer American International Group Inc. Additionally, a senior law enforcement official said Lehman Brothers Holdings Inc. also is under investigation.

The inquiries will focus on the financial institutions and the individuals that ran them, the senior law enforcement official said.

http://money.aol.com/news/articles/_a/bbdp/fbi-seeks-fraud-in-companies-collapse/185983

WOW. What is going on? Did they wake up and find their retirement funds looted?
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Flabbergasted Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-24-08 12:25 AM
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1. Ultimately We're supposed to believe that fraud wasn't obvious before the bailouts. nt
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