The FBI is investigating potential fraud at Fannie Mae and Freddie Mac, Lehman Brothers Holdings Inc., and insurer American International Group Inc.
By: Pam On: Sep/23/08 - 3 Comments
AP:
The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration.
Two law enforcement officials said the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, Lehman Brothers Holdings Inc., and insurer American International Group Inc.
A senior law enforcement official says the inquiries, still in preliminary stages, will focus on the financial institutions and the individuals that ran them.
Officials say the new inquiries brings the number of corporate lenders under investigation over the last year to 26.
Others blogging:
- Michelle Malkin
- To Those Responsible: A Major Media Outlet Has Outed You! « Pocket Change – Now Lint Free!
- Hot Dog FBI Finally Looking At Fannie/Freddie/AIG/Lehman Fraud « Mcnorman’s Weblog
- Hot Air » Blog Archive » Video: Who’s responsible for the Fannie and Freddie mess? Update: FBI launches investigation
September 23, 2008 - 06:44 PM on September 23rd, 2008
A monumental, record financial crisis has just occurred in our country.
Now, it appears that it was no random accident and it happened even while the Congress had oversight of the U.S. banking sector. Further, it may have been caused by, if not influenced by the policies of federal housing programs and the objectives governing Fannie Mae, Freddie Mac and bank lending rules.
The mis-management and faulty regulation of the U. S. mortgage industry demands a congressional investigation. Taxpayers deserve accountability for this disaster and those individuals responsible need to be brought to justice, regardless of whether they are in the Senate, administration, or the private sector.
Until those responsible for this financial catastrophe are identified and punished, U.S. citizens can no longer trust their government in such matters. It is apparent that government control has proven ineffective and, worse, may have created this economic crisis.
Please demand an immediate investigation that will determine the cause of the crisis and identify those responsible. For credibility, the investigation must be conducted by professionals who are outside of the government, non-partisan and have no conflict of interest.
September 23, 2008 - 08:36 PM on September 23rd, 2008
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September 25, 2008 - 09:22 AM on September 25th, 2008
[...] Inc., and insurer American International Group Inc. September 25, 2008 — budsimmons The FBI is investigating potential fraud at Fannie Mae and Freddie Mac, Lehman Brothers Holdings Inc… September 23, 2008 6:32 PM Posted [...]