Posted on 09/30/2008 9:15:57 AM PDT by STARWISE
The government probe into Fannie Mae and Freddie Mac widened as the mortgage giants disclosed yesterday they are under investigation by the Department of Justice and the Securities and Exchange Commission.
The companies, which were seized by the government three weeks ago, said that the U.S. Attorney for the Southern District of New York and the SEC have opened investigations over accounting, disclosure and corporate governance matters relating to events dating to Jan. 1, 2007.
(Excerpt) Read more at washingtonpost.com ...
Even if there is a corporate setttlement, it's still critical that the investigation get to the heart of the matter: the criminal fraud committed by Gorelick, Raines, Mudd et al.
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PLEASE call the US Attorney's Office in NY to URGE that they include Jamie Gorelick, Franklin Raines and Daniel Mudd in their investigations.
Contact:
Michael J. Garcia United States Attorney - Southern District of New York
Criminal Division
1 St. Andrews Plaza New York City, NY 10007
Phone: (212)637-2200
Fax: (212)637-2390
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Talk about a RICO suit waiting to happen.
I wonder how much Freddie/Fannie employees gave to B-HO?
I don’t understand why they’re only going back to 2007. IIRC there were things that should be investigated between 2003-2007 (and probably earlier).
Although I doubt it will be because those in the do nothing helpful Congress will probably be pulling strings and jerking chains to make sure their names are never mentioned.
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chortle .
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BWAHAHAHAHAHAHAHAHAAAAA!!!!! Sometimes I crack myself up....
It’s unclear whether they are investigating events TO (up until) 2007 or FROM 2007. My guess is it is up until 2007 since that’s when all the scandals took place.
LOL! Good one.
Raines and Johnson should be jailed. Their books made Enron look saintly.
Pray for W, Gov Palin and Our Troops
He is a Bush appointee...maybe we have a chance here...but I doubt it. Tired of holding my breath on this kind of stuff. Will call though like you suggest.
http://en.wikipedia.org/wiki/Michael_J._Garcia
That’s how far back it goes NOW. You’ve got to start somewhere. If this is a serious investigation, they will then expand the search if the evidence suggests they need to. Of course, the key phrase there is “serious investigation.” But, for now, they seem to be going about this in a deliberate, methodical fashion and that’s a good thing.
What about Frank, Dodd and other corrupt pols who aided and abetted Fannie and Freddie?
There’s probably a statute of limitations on the white-collar felony charges they could bring.
I’m too cyncial to think this is going to amount to more than a little noise, but there’s always hope. I read this is the prosecutor who investigated Spitzer.
US Attorney’s Office - NY
email: usanys.crcomp@usdoj.gov
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Useful contact numbers at the SEC:
http://www.sec.gov/contact/phones.htm
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Michael Garcia has had several successful terrorism prosecutions:
In 2001, he was involved in prosecuting four defendants accused of conspiring with Osama bin Laden and 17 others in the bombings of the United States Embassies in Kenya and Tanzania in 1998. The four defendants were convicted in May 2001.
In 1993, Mr. Garcia also took part in the successful prosecution of four defendants accused of involvement in the first terrorist attack on the World Trade Center.
http://www.nytimes.com/2005/04/11/nyregion/11senator.html
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LET THEM HEAR FROM US!
Why are they limiting it to Jan 1 of last year? The fraud has been going on for well over a decade. My well-educated guess is that some very powerful people would be caught up in the net if it were expanded. And ass we know, the powerful DO NOT have to answer to the law as we mere mortals do.
This should be is an essential part of any remedy to this crisis. There should be criminal penalties, asset liquidation, and punitive damages applied as appropriate.
Absolutely .. they’re implicated. I don’t know that traitorous members of Congress can be prosecuted for their official acts.
But ... they can be included in the comprehensive and complete failure and financial evisceration of Fannie Mae verbally in the report, at least.
At least one of the guilty parties, Barney Frank, has no concern about doing jail time. Think about it......
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