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rath
B.V. Info Seeker
Joined: Nov 26, 2003
Posts: 1529
Location: Australia
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 Posted: Wed Sep 24, 2008 4:13 pm Post subject: FBI probes finance giants for fraud |
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THE US Federal Bureau of Investigation (FBI) is probing allegations of fraud by finance giants, US media has reported.
According to the reports Lehman Brothers, Fannie Mae and Freddie Mac, and insurer AIG are being looked at.
CNN said the mortgage, investment and insurance titans were part of a fraud inquiry by the FBI, which has widened its net to include probes of 26 Wall Street firms as lawmakers rush to agree a $US700 billion ($830 billion) government bailout of the troubled US financial sector.
The FBI probe aims to determine whether company executives had any responsibility for the institutions' financial woes through "misinformation or material misinformation,'' CNN said.
Word of the investigation came after lawmakers in Washington grappled for a second day with the hefty bailout proposal to absorb shaky mortgage-backed debt weighing on banks and other financial institutions.
The uncertainty prompted fresh turmoil on financial markets and the main global stock markets were hit hard.
Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson said the rescue plan was urgently need to avert a deeper economic crisis.
FBI Director Robert Mueller told the US Congress last week that 24 cases of potential corporate fraud were under investigation, up from 21 disclosed by the bureau in July.
In testimony before the House of Representatives Judiciary Committee, the FBI chief also vowed to pursue corporate executives if necessary in mortgage fraud cases.
Mr Mueller said the FBI was looking at all levels of the mortgage systems. With respect to the corporate probes, which could result in federal charges, "the allegations would be there were misstatements of assets," he said.
-With AFP and Reuters
Lest we forget.....the likes of
Enron.......Worldcom........Tyco........Adelphia.......Imclone Systems.
parmalat........Arthur Anderson.........Fannie May..........Freddy Mac.
& now, we have' Lehman Brothers....&.....American Investment Group.
what will be next |
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_________________
The Great Escape a Good film 200 prisoners smuggled out of a camp the Germans said was escape-proof. the most daring breakout of World War2 a story of cunning & courage, Australian POWs figured prominently. In the real event no Americans were involved |
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BloodStone
B.V. Info Seeker
Joined: Apr 29, 2005
Posts: 1847
Location: Poconos, USSA
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| Posted: Wed Sep 24, 2008 9:11 pm Post subject: |
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I think the only way Americans will trust the market again,is only if they do this ,and the crooks go to jail.
This is what our country has been missing for a long time. It's called accountability. Time to take out the trash.
I only hope they investigate the politicians as well,there are many of them who need to go to jail for this as well.
Would go a long way in bringing back the trust of the American people.
BloodStone... |
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If it were raining hookers, I'd get hit by a fag. |
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TNuke
B.V. Info Seeker
Joined: May 27, 2003
Posts: 636
Location: Texas
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| Posted: Thu Sep 25, 2008 11:38 am Post subject: |
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FBI? "Snaaake Pliskin, I heard you were dead."
Nice to know we still have an FBI, haven't heard from them in a long time. But, when its just money, then it is unlikely that any of these folks who created this bankrupt money machine will see jail time. Hardly ever happens. At least we have an entity (GOV) that is not profit motivated to fix it. Rrrriiiight.
Where's Fox Mulder when you need him? Oh, wait, never mind. How about Scully instead? |
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"Sic semper evello mortem Tyrannis."
Welcome to 1984 citizen! |
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Nesaie
B.V. Info-a-holic
Joined: Aug 04, 2005
Posts: 10132
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| Posted: Fri Sep 26, 2008 12:47 pm Post subject: |
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| BloodStone wrote: |
I only hope they investigate the politicians as well,there are many of them who need to go to jail for this as well.
BloodStone... |
I totally agree.
We should also get rid of lobbyists who help draft legislations in favor of the corporations they work for. Oh, we should probe the lobbyists who worked for Freddie/Fannie. |
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Soma: All the advantages of Christianity and alcohol; none of their defects.
Have you had your Soma today? |
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screamzero
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Joined: Feb 08, 2008
Posts: 2175
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| Posted: Sat Sep 27, 2008 7:09 am Post subject: |
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