Tuesday, February 17, 2009

FBI Investigating 38+ Cases Related to Financial Crisis (ABC News)

Will these investigators be motivated to get to the depths of the financial crisis -- including Congress -- including the Cloward-Piven organization behind the revised Community Reinvestment Act? Keep in mind that naysayers of the CRA's impact ignore how this condoned the practice of giving out bad mortgages, overall. After all, what goes for Fannie-Mae "backed" mortgages to poor people in the inner city also goes in principle for unregulated mortgagers and their loans to others. "Fairness," after all....

That, not to mention the large mortgagers being sued (by Barack Obama and other ACORN lawyers) to make unjustified loans. I.O. is looking for the video of the man who said he was in a board meeting at a bank, when ACORN people broke into the room and encircled all at the table, standing silently behind them for awhile, then departing -- one of them being Barack Obama.

Initial excerpt from the recommended ABC News article:
Fraud 'Directly Related' to Financial Crisis Probed
FBI Agents Could be Reassigned from National Security Due to Booming Caseload
By Jason Ryan, Feb. 11, 2009

The FBI has opened investigations into more than 500 cases of alleged corporate fraud, including 38 that involve major firms and are "directly related" to the national economic crisis, FBI Deputy Director John Pistole told Congress today.

IMAGE: FBI - and Housing Crisis
FBI Says 38 Firms Directly Involved in Current Financial Crisis Could Expand to Over 100 firms Currently Over 500 Ongoing Corporate Fraud Investigations; TARP IG Warns of Fraud (ABC News Photo Illustration)

The surge in white-collar investigations is putting such a strain on the FBI that Pistole said the bureau is considering reassigning agents from national security, which has been the bureau's priority since the 9/11 attacks.

"The FBI has more than 530 open corporate fraud investigations, including 38 corporate fraud and financial institution matters directly related to the current financial crisis," Pistole told the Senate Judiciary Committee today.

The 38 companies, he said, "are significantly large companies, businesses everyone knows about but I cannot comment publicly."

Pistole's comments suggested widespread criminal activity among many of the nation's corporate giants.

"These are significantly large, similar to Enron," Pistole said. The number of firms under scrutiny could eventually top 100, as the investigations widen, he said.

Will this federal investigation flesh out all the criminals and scoundrels on and behind the scene, or will it be used to focus the spotlights away from Congress and the friends of Barack? Clue-1: just look for the words, "Congress" and "oversight." Clue-2: who is being targeted, but private enterprises, a.k.a., capitalists, a.k.a., bourgeosie?

One must believe there was oversight -- just not moral, ethical oversight. Then, what kind of oversight?

hat tip: Carmen the Journalist


Greg Goss said...

Oh my, what a piece of footage that would be. Hope you find it.

Sam Sewell said...

I sure hope the FBI reads this. All the clues for how it was done are here:

Anonymous said...

Does anybody remember the video regarding how Fannie Mae and Freddie Mac was not under the regulations of Sarbanes Oxley Act? Neither the SEC or any government regulator could force these part private-government entities to comply with GAAP or GAAS or Sarbanes-Oxley. So, the biggest fraud since Worldcomm and Enron has occurred with the largest private-government issuer of home owner mortgages.

Take a look at the video....


I.O. you might want to put this on blast and see if the Government will look at the REAL CULPRITS of Fraud.

Joe Aldeguer said...

Foreclosure is the major cause of our financial crisis. Government should really prioritize this issue.We should really keep ourselves updated.Thanks for sharing your thoughts.Good Day!

John said...

Soldier doubts eligibility, defies president's orders
'As an officer, my sworn oath to support and defend our Constitution requires this':