Anyone Else think This Bailout seems Awful Rushed ? Like there is Something that Smells about the Whole thing? What is going on ? Then Later tonight we find out that the FBI is investigating the Entities that are getting bailed out- along with 24 other Companies. The Management and Adminstration are being Investigated for Fraud and more : Freddie Mac, and Frannie Mae, and Lehman Brothers, and AIG......hmm, that is interesting.
At 7PM this broke Last Night:
7PM Update::
So over on FOX, Shep is reporting that FBI is beginning Investigations into Fraud at Lehman, AGI and Two Other Institutions....
Susposedly Upper Management.....I will try to find more about this....( Hmmm, makes that Paulson 32 WORDS a little more interesting...) Okay the First Article has appeared about Lehman, AIG, and Fannie, and Freddie are to be investigated for Fraud,
by the FBI. Gee If Mr.Paulson has his way with his 32 Words there would have been NO Investigation .....Ponder that.
( More from Huffpost about the FBI Investigation of the Banking Entities and Potential Fraud.)
Snippet from the Article :
"Just last week, FBI Director Robert Mueller put the number of large financial firms under investigation at 24. He did not name any of the companies under investigation but said the FBI also was looking at whether any of them have misrepresented their assets.
Over the past year as the housing market cratered, the FBI has opened a wide-ranging probe of companies across the financial services industry, from mortgage lenders to investment banks that bundle home loans into securities sold to investors. Mueller has previously said the FBI's hunt for culprits in the nation's subprime mortgage crisis focused on accounting fraud, insider trading, and failure to disclose the value of mortgage-related securities and other investments."
( Footnote now it is up to 26 Companies)
MORE from other article:::
"Additionally, the FBI is investigating failed bank IndyMac Bancorp Inc. for possible fraud. Countrywide Financial Corp., formerly the nation's largest mortgage lender and now owned by Bank of America Corp., is also under scrutiny."
7 comments:
I was wondering exactly the same thing. The more I hear these right wing talking heads spew the same regurgitated crap about how the Congress is dragging their feet and the world is going to collapse if they take too much time to examine the problem... the more I believe they are trying to cover something up. I say go Congress - take your damned time - make sure you negate the 32 words, put some teeth into those three pages that were sold as our saving grace.
By the way I'm a new reader and I love your blog! Keep punching away!
thanks Troy...this whole thing has been so odd- we need to call our elected and yell and ask questions,....it's right- something afoot...
come every day I update throughout the day....news and tidbits- esp this last 41 days before the election...I am a blogging fiend...
gotta do it...
now some repub congress reps & senators are balking, especially after Cheney called them into the asskicking room Tues.
It doesn't suprise me to hear failing investment houses might have engaged in questionable activities. Some shareholders made A TON of money in recent years.
I the Hearings NO ONE was supportitive of Paulsonetc, it was the first time in years I have actually seen repugs and dems kind of united in their mistrust and both asking questions....
Paulson looks like a thug. A criminal and he's not remotely trustworthy.
I would like to think these hearings will result in an outright rejection of the bailout but I don't believe it.
The Congress -- many of whom are up for reelection in November, don't want to return home and have to face opposition from challengers who label them as doing nothing to help the economy.
Plus, the Congress has pretty damn well bent over and let Bush screw them in the ass without any lube for the past 8 years. They couldn't even say "NO" to a war based on a 10 year old piece of British intelligence.
The hearings yesterday were the strangest thing I have ever seen....( and yes, that includes the Watergate Hearings)....Paulson really did come there expecting to treat it like a Board Meeting...and those there his employees....his grunts...
He could not understand WHY he was being asked so many questions...
I wish we knew more about him.....I think I will keep digging for info on him...
Congress is getting a deluge of phone calls- people mad as hell about the bailout. They are not screaming do something-- they are screaming don't do something stupid! They do not want total immunity cash give away. If they are up for election, if they screw up & approve a blank check they will be voted out.
That's the good news in this mess. Their political asses are on the line.
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