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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.

124 posted on 09/23/2008 5:09:16 PM PDT by EBH ( ... the riotousness of the crowd is always very close to madness. --Alculin c.735-804)

This is great. I’ve been so bummed until now.

128 posted on 09/23/2008 5:10:51 PM PDT by txhurl (Denali/Bolton)

Link not working. Do you mind checking it? I would love to read it.

132 posted on 09/23/2008 5:15:28 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")

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