FBI Investigating Companies at Heart of Meltdown
September 24th, 2008Things started to get interesting when They sent a memo to all employees on what to say to anyone who presented themselves as auditors or investigators. We were to refer them to some flunkie.
I thought, “Oh goodie, we’re going to get raided by a three-letter agency and guys wearing guns and blue wind-breakers are going to wheel the servers out on dollies!
Don’t hold your breath, waiting for any meaningful prosecutions to come from this.
Via: IHT:
The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, The Associated Press has learned.
Two law enforcement officials said Tuesday the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, and insurer American International Group Inc. Additionally, a senior law enforcement official said Lehman Brothers Holdings Inc. also is under investigation.
The inquiries will focus on the financial institutions and the individuals that ran them, the senior law enforcement official said.
The law enforcement officials spoke on condition of anonymity because the investigations are ongoing and are in the very early stages.
Officials said the new inquiries bring to 26 the number of corporate lenders under investigation over the past year.
Reminds me of that great line at the end of Casablanca “The Colonel has been shot, round up the usual suspects”
(As two suspects duck under the police tape claiming their innocence)