just based on what's in the news, would Justice Dept. have probable cause on AIG?

[yurbud]

To get wiretap, search, and other warrants?

And not just AIG, but other investment banks, hedge funds, etc.

The one thing that I thought might be clever secondary use for those seemingly lame ''stress tests'' is to start gathering evidence.

[JI7]

1. from everything i read they should be on top of it

[OHdem10]

2. Some State Attornies General are developing cases and going after

AIG.(State Level) There was mention of this today on CNN and Fox

[Usrename]

3. Some congress critters want to do exactly that.

The walling off of their bonus money was a breech of their fiduciary duties and could be a crime. That and the rampant fraud.

[yurbud]

9. other than the price tag, the bailout is a smart way to get entree they might not have had

as easily otherwise.

[elleng]

4. I'm happy that NYS has AG Cuomo.

Fortunately, ALL was not lost with Spitzer.

[notesdev]

5. for starters

we have open blackmail on the part of AIG, premeditated fraud on a massive scale, embezzlement, bribery, grand larceny, conspiracy to evade regulatory requirements, accounting fraud, and possibly conspiracy to overthrow the US government. I'd say something can be done under current law if someone has the balls to enforce it.

[yurbud]

10. if all of that is proven in court someone might get

A hefty fine--like Prescott Bush.

[Enthusiast]

6. I watched forensic files

last night. My wife and I agreed that if the FBI applied this kind of forensic effort on finding and punishing the culprits responsible for this AIG mess we would be going a long way toward restoring confidence. Why aren't we doing this? If ever a crime scene warranted investigation, this is it!

[Pirate Smile]

7. The Justice Dept, FBI and SEC are investigating AIG and many or most of the other WS firms.

43 criminal investigations of Wall Street
The FBI says the total number of open corporate fraud investigations nationwide has also risen to 566.

By Terry Frieden, CNN Justice Producer
March 20, 2009: 3:23 PM ET

WASHINGTON (CNN) -- Criminal investigations of Wall Street continue to soar and now total 43, a top FBI official told Congress Friday.

A month ago FBI Deputy Director John Pistole testified the number of major investigations numbered 36. In testimony on Friday, Pistole told the House Financial Services Committee the FBI now has "43 corporate fraud and financial institution matters directly related to the current financial crisis."

Pistole also said the total number of open corporate fraud investigations nationwide has risen to 566 -- up from 530 when he testified last month.

The number of FBI mortgage fraud investigation has also continued to climb, from about 1,800 in Pistole's earlier testimony to "more than 2,000."

Appearing on a panel of federal law enforcement regulators and enforcers, Pistole told the panel headed by House Financial Services Committee chairman Barney Frank, D-Mass., that "increasing mortgage, corporate fraud, and financial institution failure case inventory is straining the FBI's limited white-collar crime resources."

Democrats and Republicans expressed sympathy and support for substantially increasing resources for law enforcement investigations aimed at combating financial crimes.

http://money.cnn.com/2009/03/20/news/economy/fraud_probes/index.htm


They aren't out promoting this publicly in a big PR effort because they don't want to spook the market and because they wont say publicly who all the companies are which are being investigated.


AIG's Liddy acknowledged in his testimony last week that they were being investigated by multiple federal agencies and that they were cooperating "fully". Nobody picked up on it. I only know because I was watching the Hearing.

[shadowknows69]

8. A cop could probabaly bust down my door with the "probable cause" of smelling Pot

So, I'd say....I SHOULD FUCKING HOPE SO!!!

[BuyingThyme]

11. I suspect they could call some grand juries and put some people under oath.