FBI probing bailout firms

Finally, I was really getting tired of some people blaming the victims of mortgage fraud. Like burglars who blame their victims for leaving a door unlocked. And maybe some of these guys will have to spend their parachute money on defense attorneys.
Jim


First Published: September 23, 2008: 9:12 PM ET

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FBI probing bailout firms
Investigators start search for fraud at Fannie Mae, Freddie Mac, Lehman Brothers and AIG, sources say.
By Kelli Arena, CNN Justice Correspondent
Last Updated: September 23, 2008: 11:25 PM ET


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."
Previously, CNN has reported that Countrywide is part of the investigation.
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