CNN: Breaking!

[Popol Vuh]

No link yet. But just in on CNN is an announcement that the FBI are launching an investigation against these lending industries for fraud.

Stay tuned...

[ddeclue]

1. Of course... the Bush administration does this for window dressing

whenever something so horrendous happens that they had a hand in that they know the public won't stomach it. They "investigate" for a few weeks till it dies down and the 86 the whole thing.

They are doing this to try to convince Congress and the American people to write them a trillion dollar check.

They did this with all the original corruption with Enron etc. and very few of them ever got sent to the gray bar hotel.

We aren't that stupid any more.

Doug D.

[11cents]

3. Eh, no, I don't think so.

Can't imagine that having these outfits under investigation is going to help make the Bush regime make its case to bail out a bunch of other outfits with the same "problems."

[ddeclue]

5. If it's a real investigation fine but I smell a whitewash...n/t

[11cents]

6. Whether it's a whitewash or not, it won't be done before the election.

Not even close; opening and closing such a huge investigation in a few weeks would make the FBI a complete laughingstock. A real investigation will take months upon months; even a modestly convincing whitewash will take awhile. So the only effect this will have in the near term (from now to the election) is to intensify the stink.

[jayfish]

2. So By All Means, Please Give Them $700B!

Please!

Jay

[Jack Rabbit]

4. CNN is breaking?

And Bear Sterns, Lehman Brothers, Fanny Mae, Freddie Mac and AIG are already broke?