cnn breaking:FBI probing bailout firms

[spanone]

WASHINGTON (CNN) -- The FBI is investigating Fannie Mae, Freddie Mac, Lehman Brothers and AIG - and their executives - as part of a broad look into possible mortgage fraud, sources with knowledge of the investigation told CNN Tuesday.

The sources would not speak on the record because the investigation is ongoing.

FBI spokesman Special Agent Richard Kelko had no comment on that information, but said that 26 firms were currently under investigation as part of the bureau's mortgage fraud inquiry.

Earlier this month, FBI director Robert Mueller told Congress that 1,400 individual real estate lenders, brokers and appraisers were now under investigation in addition to two dozen corporations.

"The FBI currently has 26 pending corporate fraud investigations involving subprime lenders," Kelko said. "As we have seen, this number can fluctuate over time, however we do not discuss which companies may or may not be the subject of an investigation."
:banghead: :banghead:

http://money.cnn.com/2008/09/23/news/companies/fbi_finance/index.htm?cnn=yes

[Mojorabbit]

1. These words in the article give me pause

"Earlier this month" FBI director Robert Mueller told Congress that 1,400 individual real estate lenders, brokers and appraisers were now under investigation in addition to two dozen corporations.

[spanone]

3. we cannot get these criminals out of office soon enough imho

[SayitAintSo]

2. Where the hell is Elliot Spitzer when you need him!

Hope he reemerges to help clean this $%#@ up. Could be his redemption....

[avaistheone1]

4. That would be wonderful. He had a good nose for financial crimes.

[OmmmSweetOmmm]

7. I guess you missed this... Political Assassination - Elliot Spitzer..VIDEO

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x194923

The Shrub Administration and Feds ignored him.....

[SayitAintSo]

10. WOW...just watched it...I will be passing this on....Elliot needs to to rise from the ashes

like the pheonix....and take these bastards down...

[Pennie109]

5. This could be a bombshell.....n/t

[Marie26]

6. Guess that's why Paulson needs

this bailout money NOW, NOW, NOW! They've only got so much time to use public money to cook the books before the FBI uncovers the true extent of the fraud & corruption. The Bush Admin. is really more of a racketeering operation than anything else.

[spanone]

8. why didn't this come up before the bailouts????? they must have known

[Booster]

9. Countrywide, who has my mortgage, called a couple of weeks

ago to see if I wanted to refinance my loan. I told him I wasn't interested now but might be in about 6 months. He said he could refinance my loan and give me all of the equity in my house which I could use for anything I wanted; it would be an interest only loan at a fixed rate for 30 years. I mentioned this to someone and they said these lenders have been told they can't do those kinds of loans anymore. Anyone know anything about this. By the way, I told the guy "why in the Hell would I want an interest only loan" and he just gasped. haha

[Pennie109]

11. I used to have them also until earlier this year.

We got a better rate with a local bank and I found their fees (if I paid after the due date but within the grace period) to be aggravating. They used to call and/or send mailings to refinance every week. Drove me nuts.

[Booster]

12. I know what you mean. I'm really tired of all the mailings they

send and I most likely will try someone else too when I'm ready to refinance. There's just something about countrywide that bothers me.

[OakCliffDem]

13. K & R