CNN: FBI probing bailout firms

Sept. 23, 2008  

WASHINGTON (CNN) — The FBI is investigating Fannie Mae, Freddie Mac, Lehman Brothers and AIG – and their executives – as part of a broad look into possible mortgage fraud, sources with knowledge of the investigation told CNN Tuesday.
The sources would not speak on the record because the investigation is ongoing.

FBI spokesman Special Agent Richard Kelko had no comment on that information, but said that 26 firms were currently under investigation as part of the bureau’s mortgage fraud inquiry.

Hmmmm….I wonder if this is why AIG’s CEO pre-emptively gave up his $22 million severance package? Maybe he wasn’t being so patriotic afterall..

Trevor Timm is a Blast Magazine staff writer

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