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Meltdown Originators Subject of FBI Criminal Investigation


US Politics & Gov't  (tags: FBI, investigation, fraud, AIG, Freddie Mac, Lehman Brother, Fannie Mae )

RC
- 3918 days ago - news.moneycentral.msn.com
The FBI has undertaken a criminal investigation of Fannie Mae, Freddie Mac, AIG & Lehman Brothers. ALL RIGHT - go get 'em!



   

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Comments

RC d (418)
Tuesday September 23, 2008, 4:53 pm
Well, dammit, this MIGHT be good news...
 

Deborah Hooper (59)
Tuesday September 23, 2008, 5:01 pm
Wowza! I love it. I hope the whole thing leads back to the White House and it's NWO! Great find Regina!

 

. (0)
Tuesday September 23, 2008, 5:07 pm
good catch regina dick tracy
 

RC d (418)
Tuesday September 23, 2008, 5:10 pm
More info here: FBI investigating companies at heart of meltdown YEE HAAAA!
 

kat yazzie (400)
Tuesday September 23, 2008, 5:11 pm
FINALLY someone got caught with their hand in the cookie jar, eh?
 

RC d (418)
Tuesday September 23, 2008, 5:13 pm
AND HERE: FBI probing bailout firms OH YESSSSSSS....doing a happy dance...and I hope they net a LOT OF POLITICIANS TOO!
 

RC d (418)
Tuesday September 23, 2008, 5:14 pm
This effing site wion't let me note my own story! And it's not even listed under my own news....I am getting REALLLLLLYYYYY FED UP!
 

Past Member (0)
Tuesday September 23, 2008, 5:16 pm
it comes up NaN no who is infiltrating C2 I wonder eh ?
 

RC d (418)
Tuesday September 23, 2008, 5:17 pm
Dunno but I am sick of the glitches...
 

Past Member (0)
Tuesday September 23, 2008, 5:17 pm
hey you are / we are being watched guy's so what else is new !
 

Past Member (0)
Tuesday September 23, 2008, 5:18 pm
I think I will sit here and click away just to tick em off lol !
 

Past Member (0)
Tuesday September 23, 2008, 5:19 pm
it is not listed as new news !
 

RC d (418)
Tuesday September 23, 2008, 5:22 pm
Unbelievable, I put it up again and still NADA....FBI GOES AFTER BAILOUT BABIES WTF????
 

Past Member (0)
Tuesday September 23, 2008, 5:25 pm
maybe its not a glitch
 

kat yazzie (400)
Tuesday September 23, 2008, 5:25 pm
I reported this glitch a few hours ago, and they told me they're very aware of it and are working to repair it...
 

Past Member (0)
Tuesday September 23, 2008, 5:32 pm
I will forward to Randy now
 

RC d (418)
Tuesday September 23, 2008, 5:33 pm
I sent this through the help form and also as a direct message to Randy Paynter:



My newest stories cannot be noted and are not appearing in my news submitted or as newly posted...and we still have problems with inserting news tags!

http://www.care2.com/news/member/464062319/888132

http://www.care2.com/news/member/464062319/888151
 

Past Member (0)
Tuesday September 23, 2008, 5:35 pm
I forwarded to Randy.....not tecky at all lol
 

Past Member (0)
Tuesday September 23, 2008, 5:35 pm
hey I note
 

Past Member (0)
Tuesday September 23, 2008, 5:36 pm
its noting now 2 notes
 

Past Member (0)
Tuesday September 23, 2008, 5:36 pm
then reversed to one back to 2
 

Past Member (0)
Tuesday September 23, 2008, 5:40 pm
up to 5.......hmmm
 

Past Member (0)
Tuesday September 23, 2008, 5:41 pm
and back again !
 

DancingDove Sings (92)
Tuesday September 23, 2008, 5:49 pm
Maybe it's time to liquidate...
 

Ken S (38)
Tuesday September 23, 2008, 5:50 pm
Yes........ they MAY find a couple of fall guys.................eventually...... but don't hold your breath about the return of any money....they HAVE to look like they are doing their jobs, this has stirred up the sheeple TOOOOOoooo much. Just watch the media and political spin....all those in government responsible, will look like hero's, and smell like roses....and we the sheeple, will swallow it.....this HAS to be the age of stupidity.
 

Joycey B (750)
Tuesday September 23, 2008, 5:57 pm
Thanks for this great article Cate. You always find the best.
 

. (0)
Tuesday September 23, 2008, 6:04 pm
How I hope all these companies that are under investigation come right around to our good old goverment and the odds are pretty darn good. Lock there hind end up do not bail them out crokked thieve's Thanks Cate for another great find. Hugs as always
 

Marion Y (322)
Tuesday September 23, 2008, 6:11 pm
I'm with Ken on this and think it's more the of foxes guarding the hen house. This was a 'planned' meltdown just like 1929. Just heard the Feds had the bailout plan prepared months ago. Thanks Cate.
 

Past Member (0)
Tuesday September 23, 2008, 6:31 pm
great on *****************
 

CallCongress WriteObama (162)
Tuesday September 23, 2008, 6:34 pm
I am shocked! --shocked!-- that gambling is going on in this casino!

So shall we call the FBI and clue them that there is fraud in the White House and Federal Reserve as well?

At least this news is utterly, completely believable.
 

JOSSIE ROSS (62)
Tuesday September 23, 2008, 6:50 pm
RIGHT, NAIL THEM ALL DOWN........
 

Joan Mclaughlin (133)
Tuesday September 23, 2008, 7:40 pm
TY Cate crossing my fingers
 

Christine Mitchell (66)
Tuesday September 23, 2008, 7:42 pm
another good find, thanks cate...:)
 

Thelma Sumpter (30)
Tuesday September 23, 2008, 7:55 pm
Noted.. WAY TO GO Thanks for this great article Cate. You always find the best.
 

Marian E (152)
Tuesday September 23, 2008, 8:23 pm

I hope this is more than just a show. We need a real and serious investigation with
some criminal charges filed. (I am already convinced there was wrong doing and I have also heard that the investigation may be a cover.)

Thank you Cate.
 

Barry Seth (118)
Tuesday September 23, 2008, 8:24 pm
Thanks Cate
 

Barry Seth (118)
Tuesday September 23, 2008, 8:24 pm

I only hit the submit button once!!
 

Barry Seth (118)
Tuesday September 23, 2008, 8:25 pm
Now it looks` like I'm crazy GRRRR
 

Morgan Griffith (225)
Tuesday September 23, 2008, 8:28 pm
Skip the jail term just line them up and give everyone who lost their homes a baseball bat and let em have one good whack. Might as well get some satisfaction cuz other than one or two sacrificial lambs ya know that everyone who needs to be prosecuted will not be found anywhere near a courtroom. Sure will be fun watching them all spinning and running tho. Too bad the price for this movie ticket is gonna be a high one though.
 

Estella Ameigh (22)
Tuesday September 23, 2008, 9:04 pm
Thanks. Glad to hear that someone is finally trying to get to the bottom of all this mess. Hope the FBI can send all of the liars and thieves a packing. All the bad dudes had better get out of Dodge! The sooner the better. Let's keep America beautiful and insist that businesses are run honestly.
 

Denice G (45)
Tuesday September 23, 2008, 11:38 pm
Great news. I hope something comes of this.
 

Hans L (958)
Wednesday September 24, 2008, 12:29 am
Well Cate i had expected you to be intelligent enough to check that this is all just part of the game! I am sure that you know that they will have a real blanco cheque to do whatever they like to do......and this is realy just to put critical minds like the people who have commented above at ease! And huray it works...........

The pursuant to the NEW authority given to the Secretary by the “Bailout Act” his decisions are “non-reviewable,” “may not be reviewed by any court of law,” and may not be reviewed by “any administrative agency.”

That represents a significant consolidation of power and an completely removes any oversight authority! Thank you to all the people who believe everything, only with your help they can do this!
 

CHRISTIAN RYAN (11)
Wednesday September 24, 2008, 12:57 am
I SAY WHITE COLLAR CRIMES GET THE SAME TIME AS ANY CRIMINAL IT MIGHT STOP SOME OF THESE THUGS FROM BEING ABLE TO BUY THE WAY OUT OF TROUBLE CHRIS
 

Past Member (0)
Wednesday September 24, 2008, 4:46 am
Great show looks allmost like a Hollywood production!
 

Stephen Hannon (203)
Wednesday September 24, 2008, 7:32 am
Noted, thanks Cate. I was actually surpised to hear on my local news channel that the FBI is going to be investigating the mortgage meltdown. BushCo isn't going to be happy with investigation. He wants it all to go away. More corrupt RepunliCons are going to bite the dust. Not good news for the McCain't camp either. Mr. Insider claims he going to clean up Washington and Wall Street? Ha, not in our lifetime. Especially when he was involved with Charles Keating during the Lincoln S&L scandal. McCain goes to great lenths to hide this information from the American people, but his involvement with the scam is now being brought back to life... He he. Good for McShame.
 

ROBIN M (312)
Wednesday September 24, 2008, 8:27 am
do i see a jail cell in their future.
 

Barbara Tomlinson (431)
Wednesday September 24, 2008, 10:18 am
YES YOU *CAN* DO SOMETHING NOW!!!
NO BAILOUT FOR WALL STREET: PROTEST ON WALL STREET [NYC] THIS THURSDAY!
Actually, protests are occurring not just on Wall Street, NYC, but in many cities all over the U.S.!

In Seattle, the protest will be next Thursday, the 25th, at 4 PM, in front of the Washington Mutual {Bank} Building, 1301 2nd Ave.

Note: Naomi Klein [author of the recent book Shock Doctrine, about our predatory economic/ruling class system] is not organizing this protest, she is just helping get the word out about it. If you would like more information, please contact Arun Gupta at ebrowniess@yahoo.com.

"This week the White House is going to try to push through the biggest robbery in world history with nary a stitch of debate to bail out the Wall Street bastards who created this economic apocalypse in the first place.

This is the financial equivalent of September 11. They think, just like with the Patriot Act, they can use the shock to force through the 'therapy', and we'll just roll over!

Think about it. They said providing healthcare for 9 million children, perhaps costing $6 billion a year, was too expensive, but there's evidently no sum of money large enough that will sate the Wall Street pigs. If this passes, forget about any money for environmental protection, to counter global warming, for education, for national healthcare, to rebuild our decaying infrastructure, for alternative energy.

This is a historic moment. We need to act now while we can influence the debate. Let's demonstrate this Thursday at 4 pm in Wall Street.{And in other cities too, besides NYC!}

We know the congressional Democrats will peep meekly before caving in like they have on everything else, from FISA to the Iraq War.

With Bear Stearns, Fannie and Freddie, AIG, the money markets and now this omnibus bailout, well in excess of $1 trillion will be distributed from the poor, workers and middle class to the scum floating on top.

This whole mess gives lie to the free market. The Feds are propping up stock prices, directing buyouts, subsidizing crooks and swindlers who already make a killing off the mortgage bubble.

Worst of all, even before any details have been hashed out, The New York Times admits that 'Wall Street began looking for ways to profit from it' and its chief financial correspondent writes that the Bush administration wants 'Congress to give them a blank check to do whatever they want, whatever the cost, with no one able to watch them closely'.

It's socialism for the rich and dog-eat-dog capitalism for the rest of us.

Let's take it to the heart of the financial district! Gather at 4pm, this Thursday, Sept 25 {in YOUR city's financial district!}.

By having it later in the day we can show these thieves, as they leave work, we're not their suckers. Plus, anyone who can't get off work can still join us downtown as soon as they are able.

There is no agenda, no leaders, no organizing group, nothing to endorse other than we're not going to pay! Let the bondholders pay, let the banks pay, let those who brought the 'toxic mortgage-backed securities' pay!

 

Eric Straatsma (3802)
Wednesday September 24, 2008, 6:04 pm
Thousands of you responded yesterday when I wrote. I'm writing to urge you to respond again. We are having an impact but it is going to take an avalanche of citizen input to re-think the bailout. The decision Congress is considering could affect us for a generation or even two.

One reported quote from an anonymous congressional staffer about the effect of our e-mails, phone calls, faxes, etc. indicates that support for the bailout plan in its present form is rapidly declining due to citizen pressure. The Congressional newspaper Roll Call reports:

"The Bush administration's forceful lobbying effort failed Tuesday to win support from rank-and-file Republicans or Democrats for a $700 billion Wall Street bailout package, though GOP and Democratic leaders still planned to move a bipartisan bill by the end of the week. . . .

"The rank and file in both parties expressed deep concerns about anything resembling the $700 billion that the White House wants, and leaders struggled to keep their Members open-minded in the face of surging outside opposition from a diverse range of voices from former Speaker Newt Gingrich (R-Ga.) and the Club for Growth on the right to liberal bloggers on the left. . .

"But both sides face heat internally, with liberals upset with what some see as a handout to Wall Street cronies and with conservatives who are appalled at the unprecedented intervention in the free market."

It is important to get more people writing (click here) and calling their legislators (202-224-3121). Please forward this newsletter to everyone you know or send them to www.FreshAirCleanPolitics.net to take action. You can write/call again and update your representatives on your views as this drama is unfolding.

And, people are starting to ask very sensible questions that should slow down the process. One writer on economics and taxes that I have a great deal of respect for, David Kay Johnson of the N.Y. Times, is making some important points in a memo to the media:

"In covering the proposed $700 billion bailout of Wall Street don't repeat the failed lapdog practices that so damaged our reputations in the rush to war in Iraq and the adoption of the Patriot Act. Don't assume that Congress must act instantly, as so many news stories state as if it was an immutable fact. Don't assume there is a case just because officials say there is.

"The coverage of the Paulson plan focuses on the edges, on the details. The focus should be on the premise. And be skeptical of what gullible Congressional leaders, most of them up before the voters in a few weeks, say after being given a closed-door meeting on supposed horrors. . .

"Ask this question -- are the credit markets really about to seize up?

"If they are then lots of business owners should be eager to tell how their bank is calling their 90-day revolving loans, rejecting new loans and demanding more cash on deposit. I called businessmen I know yesterday and not one of them reported such problems. Indeed, Citibank offered yesterday to lend me tens of thousands of dollars on my signature at 2.99 percent, well below the nearly 5 percent inflation rate. That offer came after I said no last week to a 4.99 percent loan.

"If the problem is toxic mortgages then how come they are still being offered all over the Internet? On the main page AOL generates for me there is an ad for a 1.9% loan (which means you pay that interest rate and the rest of the interest is added to your balance due.) Why oh why or why would taxpayers be bailing out banks that are continuing to sell these toxic loans? . . .

"What steps are being taken to take back bonuses, fees and other compensation from the folks who got rich selling toxic mortgages and illiquid investments that Secretary Paulsen claims are threatening the whole system?

"How will adding $700 billion to the national debt ease strains on the credit markets?

"As of now we are, as a group, behaving just as we did the last two times the administration sought to rush through a hastily thought out, ill-conceived plan. Why in the world are we being so gullible and naive? Whatever happened to the core value of journalism -- check it out?

And, Nobel laureate Joseph Stiglitz, an economics professor at Columbia University, is describing the plan as a raw deal for taxpayers. What's needed most, Stiglitz argues, is to assist struggling homeowners. "We should begin with the core of the problem, the fact that millions of Americans were made loans beyond their ability to pay. We need to help them stay in their homes, including by converting the home mortgage deduction into a cashable tax credit and creating a homeowners' Chapter 11, an expedited way to restructure their liabilities." If these mortgages are fixed so the debts are paid, will that not make the banks solvent? It is time to build the economy from the base, rather than the top. Trickle down does not work - especially when it is debts that trickle down.

Please take action NOW. Three steps below.

Write Congress. We have a model letter but you can modify it to make the points you think are important. Click here.
Write the media. Use the information in the newsletter above to send a letter to the editor and get the media to do their job - approach this massive, record setting bailout with skepticism. Click here.
Forward this newsletter to everyone you know. It is going to take IMMEDIATE, CONCERTED citizen action to prevent this rush to judgment.
If you are able to make a donation to our work we would greatly appreciate it.

Thank you for your support and efforts at this critical crossroads in American history.

Sincerely,

Kevin B. Zeese
Executive Director
 

Larry S (645)
Wednesday September 24, 2008, 7:18 pm
I think the originators can pay back by using out of that great big bank account they have..., or maybe straight time of say 15 to 20 yrs., at least.
 

Blue Bunting (855)
Wednesday September 24, 2008, 9:18 pm
A "bailout" for Goldman Sachs is not an option; it must be a LOAN with interest paid to the American taxpayers.

Why did Paul$on'$ firm: Goldman $ach$ survive???

The Long and Short of It at Goldman Sachs

Goldman Sachs sold hundreds of Billions in subprime/CDO's and shorted them at the same time.


A new analysis by Goldman Sachs Group, Inc. finds that “Wall Street banks, brokerages and hedge funds may report $460 billion in credit losses from the collapse of the subprime mortgage market, or almost four times the amount already
disclosed
.”

The degradation of accounting The folly of fair value accounting, which helped to drive up executive bonuses based on illusory values, is increasingly exposed by the US financial crisis. Goldman Sachs now has "assets" for which no market exists valued at twice the firm's capital. That route leads to insolvency.

 

Gayla S (50)
Thursday September 25, 2008, 1:07 am
Now, we're talking> We're PO'd and really not gonna take it any more. We're over 9.5 million strong according to the count on this site. Do they think they can make us go away? I truly hope that it won't, aint' gonna, HAPPEN!
If it's our money as it should be, why are WE letting them push US, ya'll and me, push us around.
Beautiful work Eric s. Cate of course and all of us. Remember that old saying United we Stand, Divided we FALL.
It's time to take back our United States of America.

Note, that is all bold and underlined.
 

Tsandi Crew (95)
Thursday September 25, 2008, 8:55 am
Oh, crap, the messages are displaced again. Sorry. RE nailing the Meltdown Originators....the first step in nailing the originators is to get out and vote against the Deregulator, John McCain.

Then go after Phil Graham, Johns top financial advisor, and soon to be cabinet member if elected. Then go after Rick Davis, second right hand man, John McCains Campaign manager, who just in August received a check from Freddie Mac (Muddie Frack) because he is still on the roll with them.

THIS IS NO TIME TO DECIDE NOT TO VOTE!
 

Marion Y (322)
Thursday September 25, 2008, 9:07 am
Gayla...I agree. I think our letters and calls are getting through to Congress. If they let BushCo get away with this, we will know this is a total fascist system and we never really mattered.

Tsandi...Isn't this unbelievable? The blatant corruption slapped in our faces and these crooks have the never to stand before a camera and ask for our votes! No more. We cannot lie down anymore while they run over us like a train.

Tell Obama and McCain we want a real debate on the economy NOW!
This petition closes today.
 

Marion Y (322)
Thursday September 25, 2008, 9:08 am
Correction: and these crooks have the NERVE to stand before a camera and ask for our votes!
 
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