FBI probes 14 companies in SubPrime mess

[flippinout]

WASHINGTON - The FBI on Tuesday said it is investigating 14 companies for possible accounting fraud, insider trading or other violations in connection with home loans made to risky borrowers.
Agency officials did not identify the companies under investigation but said the wide-ranging probe, which began in spring 2007, involves companies across the financial services industry, from mortgage lenders to investment banks that bundle home loans into securities sold to investors.
The Federal Bureau of Investigation is working in conjunction with the Securities and Exchange Commission on the corporate-fraud probe, said Neil Power, chief of the FBI’s economic crimes unit in Washington.

Read more here

[hometowngrl53]

I read this and i think it about time they did some investigating but have to wonder why wait till things get to the point they are now

[thohome]

I agree why wait until things are so bad to investigate. they spend billions of dollars to spy on us for terrorist when our own people will rob us blind.