[dforest]

I am sure this will bear fruit. /s

[EBH]

Just listening to the hearing from today by Paulson and Bernake. They have little to truly say. And don’t seem to make much sense to me. They sound like they’re spinning their answers to placate the congress questions/concerns. It doesn’t sound right at all.

[homeguard]

[count-your-change]

The purpose of the investigation is to make sure everyone has their story straight and any incriminating evidence is buried in very deep hole.
Then we'll hear about how mistakes were made and there's plenty of blame to go around and a commission is needed to study the problem and make recommendations, blah + blah.
No evidence of criminality will found and “it's time to put this behind us”.
I think we've seen this movie before.

[devolve]

[homeguard]

[SE Mom]

Over here...

[JimSEA]

"The business of America is business."

Not today Cal, "The business of America is fraud!"

[Gritty]

The FBI must have gotten a tip Scooter Libby or Karl Rove are somehow involved in this mess.

[KansasGirl]

Please throw these crooks in jail including Obama, Clinton, Dodd, Schumer, Frank etc.

[maggief]

Add more to that list ...

Dodd
Frank
Shumer
Raines
Gorelick
Johnson
Clinton

[editor-surveyor]

Link ?????????

[tomnbeverly]

LOL Just say no to bailing out the crooks... I hope during the investigation they show the ties to the Rats...

If I didn’t know better I would swear this had Karl Rove all over it....

[panaxanax]

The new legislation states: “Decisions by the Secretary [of the Treasury] pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”

[tsmith130]

This will end up being more waste of taxpayer money and government time....and NOTHING will come of it.

Yeah, I'm cynical.

[The KG9 Kid]

My suggestion to the FBI is to raid everything Jamie Gorelick was even seen near.

[nclaurel]

There have been reports of fraud for years and now they are going to investigate! It will be interesting to see if any Obama people get mention. I certainly hope it works better than their investigation of the hacker.

[EBH]

FBI focusing on 14 companies in mortgage probe
Agents investigating fraud allegations throughout securitization process

By Alistair Barr, MarketWatch

Last update: 7:34 p.m. EST Jan. 29, 2008Comments: 1SAN

FRANCISCO (MarketWatch) — The Federal Bureau of Investigation is targeting 14 companies as part of a broad probe into the subprime mortgage meltdown, a spokesman said on Tuesday.

But expanding probes into the secondary mortgage market where loans are securitized could implicate better-known financial firms which have been involved in the losses of billions of dollars in investors’ money, the Wall Street Journal reported late Tuesday, citing FBI officials.

http://www.marketwatch.com/news/story/fbi-probes-14-companies-broad/story.aspx?guid={82BC9C23-422D-4F49-AC28-10C34C962AF0}

Looks like they’ve been working on this for a while now.

[AndyJackson]

Not to rain on everyone's parade, but this is the FBI that investigated Wen Ho Lee. The only safe person in that investigation was Wen Ho Lee. The FBI did not have the technical expertise to investigate allegations of theft of nuclear weapons design information. One suspects that they also don't have the expertise to investigate the models used to project rates of default of CDO's.

Not that I am at all opposed to investigating these crooks. Its just that the smart attorneys and financial expertise all lies on the other side of this exercise.

[Salvation]

Vanity: WHERE’S THE OUTRAGE? THE CLAMMORING FOR DISMISSALS? THE INVESTIGATIONS BY CONGRESS [OF CONGRESS]?