The New York Times has the story.
WASHINGTON — The Federal Bureau of Investigation, under pressure to look at possible criminal activity in the financial markets, is expanding its corporate fraud inquiries in the wake of the tumult in the last 10 days, officials said Tuesday.Do you suppose some one has talked? I hope so.
The F.B.I. has now opened preliminary investigations into possible fraud involving the four giant corporations at the center of the recent turmoil — Fannie Mae and Freddie Mac, Lehman Brothers and the American International Group, The Associated Press reported.
A government official, speaking on condition of anonymity because he was not authorized to discuss the issue publicly, said it was “logical to assume” that those four companies would come under investigation because of the many questions surrounding their recent collapse.
FBI director Robert Mueller has a few words on the subject.
Mr. Mueller told members of the Senate Judiciary Committee that the major corporate investigations are aimed at companies that “may have engaged in misstatements in the course of what transpired during this financial crisis.”I wonder if they will reach as far up as members of Congress? What are the odds? Given that there has been no action in the case of William "Cold Cash" Jefferson so far I wouldn't bet on it.
He added that “the F.B.I. will pursue these cases as far up the corporate chain as is necessary to ensure that those responsible receive the justice they deserve.”