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FBI investigating companies involved in sub-prime mortgage crisis

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posted on Jan, 29 2008 @ 09:08 PM
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FBI investigating companies involved in sub-prime mortgage crisis


news.bbc.co.uk

The FBI is investigating 14 companies embroiled in the sub-prime mortgage crisis as part of a crackdown on improper lending.
It did not identify the companies but said the investigation encompassed developers, sub-prime lenders and investment banks.

FBI officials said the agency was looking at instances of accounting fraud and insider trading.

The cases could lead to potential civil or criminal charges, the FBI said.

The FBI said it viewed mortgage fraud as an increasing threat to the national economy.

(visit the link for the full news article)



[edit on 29-1-2008 by DimensionalDetective]




posted on Jan, 29 2008 @ 09:08 PM
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Uh-oh...Me thinks some of the heavy-hitter lenders are going to have some 'splainin to do. Looks like Morgan Stanley and Merrill Lynch's bad news (of losses) may be getting much worse.

news.bbc.co.uk
(visit the link for the full news article)

[edit on 29-1-2008 by DimensionalDetective]



posted on Jan, 29 2008 @ 09:12 PM
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