FBI investigating fraud at Fannie/Freddie/Lehman/AIG
The FBI is probing financial fraud at the nation’s giant financial institutions. Better late than never, I guess.
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.
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Trackbacks
- 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
- In Plain English: How Did The Biggest Financial Scandal in History Happen? « The IUSB Vision Weblog
- The Mortgage Crisis In A Nutshell « Beltway Snark
- Stop The ACLU
- Fraud Investigation at Fannie/Freddie/AIG/Lehman « The Shining City On a Hill
- The for F’s! Fannie, Freddie, and Financial Fraud! « The Daley Gator
- More proof Democrats let financial crisis happen | Conservative247
- PAXALLES
- Alan Greenspan and the Federal Reserve Warned Congress - Greenspan Testified for McCain’s Bill to Fix Fannie Mae and Freddie Mac in 2005 - Democrats Blocked it in Party Line Vote! « The IUSB Vision Weblog
- Whose to Blame for the Fannie-Freddie Mess « Truth and Reason
- Cop The Truth
- The Rude News » Blog Archive » FBI Looks @ Fannie & Freddy…
- WeatherOutpost12
- FBI investigating fraud at Fannie/Freddie/Lehman/AIG « Thoughts Of A Conservative Christian
- Alan Greenspan and the Federal Reserve Warned Congress - Greenspan Testified for McCain’s Bill to Fix Fannie Mae and Freddie Mac in 2005 - Democrats Blocked it in Party Line Vote! « The IUSB Vision Weblog
- Corruption You Can Believe In: Failed Sub Primes and Mortgage Fraud Lenders Funneled Money to Dodd & Obama the Most. Fannie & Freddie Gave $200 Million to Partisans-Most Went to Democrats! Dodd, Obama Among Top Recipients. Republicans Attempted to
- Bush Administration Warned Congress Over 20 Times Reforms Were Needed « The IUSB Vision Weblog
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Categories: Subprime crisis
Doug Ross @ Journal
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You just know that the fat cats being investigated call “Hank” & “Ben” by their first names socially. Probably prudent not to buy any more snake oil from these two grifters until we check out their phone and email contacts for the last year.
Here we go again with the “unnamed indicted coconspirators”.
“I didn’t take any money”.
“I didn’t know what was in the satchel”.
“Something showed up in my private numbered offshore account and I don’t know how it got there or where it came from”.
“To the best of my recollection…”.
“I don’t recall…”.
“I don’t know how my wife’s cousin’s nephew’s neighbor’s brother-in-law could afford the SUV. It’s not within my purview”.
“I don’t remember that conversation or signing that document. It must have been mixed in with other papers”.
Et al, Ad nauseam.
I’M RICH!!!!!!
My current EBay enterprise is making a killing selling and shipping high-volume shredders to NYC at the moment!!
My next start-up business is to service those same shredders.
But now I just have to figure out how to break into the recycling/composting sector without getting “acquired” by the “local competition”. Any ideas or personal contacts?
On September 23rd, 2008 at 8:29 pm, Rogue Cheddar,
I’m with you, get everyone of these swarming, crooked politicians, I don’t care what party their from. Catch ‘em, convict ‘em and shoot ‘em. These selfish bastards have no idea nor do they care what they have done to others.
Personal opinion, I think government and business have gotten to big for their own good…in reality they could care less about the people, the masses so to speak. Wait a minute it’s an election year, now it’s “my friends” or “fellow Americans” they can’t be honest even at election time. Oppps, guess that would be the right to time to do as your constituents want.
Term limits, but it will never happen, for obvious reasons.
we’re screwed
It may have been under “Bush’s watch,” but it was under Democrat guidance and oversight. See one Chairman of the Senate Banking Commission (Dodd the Fraud).
Why doesn’t Dodd explain to us what he was doing all this time? I don’t recall any warnings from him.
Who out there believes this is really going to go anywhere. Once the link to Congress is found, Congress will start yelling about the separation of the branches of government and go to court to prevent any further investigation. Just look what happened with Jefferson of Louisiana.
May be it’s time to see if America can wake up with the re-election of NO ONE. Throw everyone out! That is the most important message we can send as citizens. But no, we continue to watch “Dancing with the Stars” and read People magazine as if that makes us informed.
Install a wireless scanner in those shredders.
Chap,
Good to see you commenting again. I haven’t seen anything from you for awhile. Some time back you asked what part of NY I was from. I’m not, I’m a transplanted cornhusker – currently living in upstate NY working for a large multinational engineering firm.
This whole financial fiasco is why I run scared of today’s democrats. The laws of economics are as immutable as the laws of physics – they just take longer to manifest themselves.
A couple things I have learned through the years:
1. You can’t legislate prosperity
2. You can’t legislate morality.
The War on Poverty is as dismal a failure as the War on Drugs -but both coming at a high price to the taxpayers.
Vacation… where I had little access to internet or phone. It actually kinda stressed me out more than actually working, which is sad.
I don’t understand all of you – why aren’t you cheering the democrats?
Why?
It works like this.
1) Democrats, who were a major cause of this whole financial mess by pumping up Fannie Mae and Freddie Mac, and not allowing reform, really helped fuel the big housing construction binge in this country.
2) The easy money resulted in the speculation and overbuilding of housing stock throughout the country.
3) Now with the severe economic downturn, housing starts are at a significant low, with further declines expected.
4) With such a downturn in construction, the illegal alien workforce formerly in construction is heading back to Mexico/Latin America.
5) Illegal alien problem solved by the Democrat Party of the USA.
Who says the democrat congress doesn’t accomplish anything?
Dimsdale,
All due respect because there is plenty of blame to go around, but this problem began wayyyyy before 2006.
I’m sorry.. you lost me at bacon..
You didn’t miss much. Bottom line is that this problem has been percolating for several years now.
Hillarious:
Obama’s campaign released a statement from Raines, who says he is not an Obama adviser. – Pete Yost, Associated Press Writer
Why would Obama’s campaign release a statement from someone not official connected with the campaign?
Strange indeed.
Another one bites the bus
Another one bites the bus
And another one gone, and another one gone
Another one bites the bus
Hey, He’s gonna get you too
Another one bites the bus
sorry.. I was going for a Homeresq type joke there..
but I understood the pig analogy..
easier to buy what you want from a numerous animals instead of getting the good and bad off of one..
Thank you for that..
Hmmm, not bad….
Anyone know where I can get a loan?
SO… we’re…
gonna bail out freddie and fannie,
THEN
arrest Jamie Gorelick, Franklin Raines, Barney Frank and Chris Dodd?
Cart’s before the horse there, like giving amnesty immediatly, but promising a border fence later.
*Pssst…F.B.I., start with the Obama Campaign and work your way over to Pelosi and Reed’s offices. It will save time.
On September 23rd, 2008 at 10:24 pm, genso said:
Wow. I’d never thought of something like that before, but obviously someone else has…
It wouldn’t surprise me at all if such things already exist and are being used for spying…
What better way to get the most vital information than to electronically transmit images of the very documents deemed soo sensitive that they must be shredded?
Shredding is presumably done in order to prevent those documents from being seen by others…
Putting “bugs” in shredders is an absolutely brilliant idea.
Has it been done before?
Well, if your shredder gives off wireless transmissions….
watching bailout hearings yesterday, the idea that Chris Dodd was asking questions, and Paulson said taxpayer “on the hook” was surreal. Throw them all out.
Interestingly, I have my money in a Ginnie Mae fund, and I didn’t lose much. Even got dividends. Must be the only housing investment that works. (The money is there to buy a house, actually.)
Subprime crisis: See Jimmy Carter and the CRA.
It’s about damned time!
Absolutely! If you travel overseas on business ALWAYS expect that you are being assigned to a room reserved for foreigners and that that room is completely bugged. Expect that any niceties that are easily available for a business person to be suspect.
I faxed something one time and the machine errored out. When I started troubleshooting the problem, I discovered that the machine was actually sending two copies in the background to other phone numbers.
Actually, wireless transmissions have technical issues of their own. (i.e. metal built into the walls of a building, microwave interference, etc) I would build memory ‘chips’ into the device itself and then download or transmit the shredded/scanned documents at a later date.
Countermeasuere – flip your documents top and bottom so that a scanner cant see anything and insert fluff with what you are shredding
RUN!!!!! ITS A TRAP!!!!!
Like 9/11 Commission report, this one may be closed as “Failure of intelligence”.. whatever that means.