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FBI Investigating Potential Fraud by Fannie Mae, Freddie Mac, Lehman, AIG
Fox News ^ | Tuesday, September 23, 2008 | AP article

Posted on 09/23/2008 4:56:31 PM PDT by Fred Nerks

WASHINGTON — The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy
KEYWORDS: 110th; doj; fannymae; fbi; freediemac; govwatch
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To: Fledermaus
Franklin Raines, et al were given a slap on the hand.

as i understand it, gorelick got off scott free and raines got a $2 million fine - that fine was paid by his insurance policy - the premiums for that policy were paid by fannie mae

democrats have a funny idea of justice

21 posted on 09/23/2008 5:12:55 PM PDT by sloop (pfc in the quiet civil war)
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To: muleskinner

F. Raines has went from “Economic Adviser” to “we had one phone call” in less then a week, then there is Jim Johnson, the fmr Chariman at Fannie who headed Obama’s “VP vetting team” until the dirt about Countrywide landed on him, never mind he got the job via his time giving away Fannie Mae money to groups like ACORN..

Then there is Jaimie Gorelick, and of course Obama’s 130k in 140 days tour in the Senate courtesy of Fannie Mae..

Notice it isn’t the Fannie Mae crooks being hauled in front of Mayor McCheese ( Chris Dodd) for the “hearings”?


22 posted on 09/23/2008 5:14:09 PM PDT by padre35 (Sarah Palin is the one we've been waiting for..Rom 10.10..)
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To: Fledermaus
Yeah, right. Bush’s (In)Justice Dept. couldn’t prosecute a fly.

Sure don't have a hard time prosecuting our border agents though....

Feel like I'm coming down with a mild case of Bush Derangement Syndrome over here

23 posted on 09/23/2008 5:14:14 PM PDT by Domandred (McWhathisname / Palin - 2008)
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To: Fred Nerks

First give them more money then investigate. I feel better knowing how our tax dollars are being used.


24 posted on 09/23/2008 5:14:21 PM PDT by Man50D (Fair Tax, you earn it, you keep it!)
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To: Comparative Advantage

I was part of a class action suit against Fannie Mae several years ago. Their shennigans have been going on for a very long time.


25 posted on 09/23/2008 5:16:15 PM PDT by sarasota
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To: ovrtaxt

Raines has already been convicted once. He paid a measly 2 million dollar fine, the company paid a 400 million dollar fine.


26 posted on 09/23/2008 5:16:56 PM PDT by listenhillary (Palin accomplished more in the PTA than Obama did as a community organizer)
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To: proxy_user
The fraud occurred at the mortgage broker level. The brokerages who packaged and sold these loans may have participated by selling paper they knew was bad. However, Lehmann and AIG were purchasers of these securities, not packagers.

the fraud was done by carter (cra) and clinton (reno) by forcing loans to be made to unqualified buyers - all else is distraction

27 posted on 09/23/2008 5:16:56 PM PDT by sloop (pfc in the quiet civil war)
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To: visualops
Jamie Gorelick. She’s flipping everywhere. Is there any position screwing this country that she hasn’t held?

I had to look to find out and found this at Wikipedia.

Gorelick was added in February 2006 to Duke University's defense team after the 2006 Duke Lacrosse Scandal.

Yea so I guess she really HAS been everywhere screwing things up lol

28 posted on 09/23/2008 5:17:47 PM PDT by Domandred (McWhathisname / Palin - 2008)
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To: listenhillary

Raines wipes his rear end with 2 million dollars. He needs to go to Leavenworth.


29 posted on 09/23/2008 5:18:43 PM PDT by ovrtaxt ( One useless man is a shame, two is a law firm, and three or more is a Congress. --John Adams)
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To: Fred Nerks
I personally want to watch Jamie Gorelick walk the plank.

She was instrumental in a decisive turn allowing 9-11 to happen.

30 posted on 09/23/2008 5:19:33 PM PDT by Battle Axe (Repent for the coming of the Lord is nigh!)
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To: ovrtaxt
Does this put Raines and other dirtbags like him in the crosshairs?

God I hope so! And I hope McCain will hammer "The One" for his associations with them!

31 posted on 09/23/2008 5:22:15 PM PDT by JaguarXKE
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To: Comparative Advantage
“I want to see some executives and government officials doing a perp walk soon.”

_____________________________________________

I think that there are a whole lot of us that want to see these scam artist put in jail. I can't believe the arrogance and condescension by Shumer, Frank, Dodd!!

Even more disgusting is that not a single Republican is man enough to stand up to them and call these perp out!!!

32 posted on 09/23/2008 5:22:54 PM PDT by parthian shot (I can't stand much more of this!!)
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To: Fred Nerks

Of course there is fraud.

The government (due to pressure from the liberals) forced lending institutions to stop “red-lining”. In other words, stopped them from drawing a line through those people who could not afford to buy homes. And the government forced the lending institutions to loan money to people who (1) didn’t have a down payment, (2) didn’t have good credit ratings, (3) didn’t have established income.

Since we don’t have debtors prison in this country, there was literally no risk involved to those people who bought homes they couldn’t afford.

So, lots of poor, disadvantaged people were able to buy new homes they could not afford. (This was good for new home construction.) To furnish these newly bought homes, they bought houses-full of new furniture with credit card credit. (Good for credit card companies.) Naturally, since these new home owners are living above their means, they could NOT pay the credit card debit or the mortgage payments – and eventually everything has to go back.

But that’s not the whole problem. There is the FRAUD. Greedy, self-serving people saw the line forming to get credit without risk – and here is where the fraud comes in – they got their brothers, sisters, relatives, to get in the “cheap” line – rather than getting in the line to purchase reasonable and affordable housing. Of course, the lending institutions participated in the fraud.

If you see two lines: one line of people who are given credit without risk, and one line of people who are given credit at a risk – which line gets longer?

Two separate issues here: Fraud and socialism.


33 posted on 09/23/2008 5:23:44 PM PDT by i_dont_chat (The elephant is dancing for the lady from Alaska)
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To: Fred Nerks

Nice. I’d like some sleep-deprived interrogations,followed by confessions, followed by 3AM trials covered by C-Span and a delicious and fitting sentence.


34 posted on 09/23/2008 5:23:46 PM PDT by februus
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To: sloop

This is one idea that I cannot agree with.

Three large banks, Wells Fargo, US Bancorp, and JPMorgan Chase made virtually no subprime loans. They were not bothered in any way by the government, but stock analysts ridiculed them for being too stodgy and conservative.


35 posted on 09/23/2008 5:25:01 PM PDT by proxy_user
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To: Fred Nerks
Vanity: WHERE’S THE OUTRAGE? THE CLAMMORING FOR DISMISSALS? THE INVESTIGATIONS BY CONGRESS [OF CONGRESS]?
36 posted on 09/23/2008 5:28:00 PM PDT by Salvation ( †With God all things are possible.†)
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To: muleskinner
According to an April Washington Post article, he was quoted as saying he was an economic adviser... of course Washington Post now says that they got the quote wrong. Sorry, the Post does not deserve our trust. The dirt bag works for obammy.

LLS

37 posted on 09/23/2008 5:28:16 PM PDT by LibLieSlayer (GOD, Country, Family... except when it comes to dims!)
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To: LucyT; Calpernia; All

http://www.gopusa.com/commentary/mreagan/2008/mr_09191.shtml

‘...According to the Center for Responsive Politics, the top three U.S. Senators getting big Fannie and Freddie political bucks were Democrats, and No. 2 was Sen. Barack Obama, who as Fox noted had only been in the Senate four years but still managed to grab that No. 2 spot ahead of longtime colleagues John Kerry and Chris Dodd, the chairman of the Senate Banking Committee.

According to Fox, Fannie and Freddie were where big-time Washington Democrats went to work and pocketed millions. Franklin Raines, Clinton’s White House Budget Director, ran Fannie and collected $50 million.

Jamie Gorelick, an official in Clinton’s Justice Department — the woman who built the “wall” that prevented the FBI from targeting terrorists before 9/11 — worked for Fannie Mae and took home $26 million. Big-time Democrat Jim Johnson, who headed Obama’s VP search committee, also hauled in millions from running Fannie Mae...’


38 posted on 09/23/2008 5:31:50 PM PDT by Fred Nerks (fair dinkum)
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To: Fred Nerks
The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration.

W stepping up to the plate and taking a swing? Another "misunderestimation"?

It may not be Biden that Hillary needs to be replacing on the ticket.

39 posted on 09/23/2008 5:34:53 PM PDT by txroadkill (Sarah Palin-- Vote for her?!? Hell, I want to marry her!)
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To: Comparative Advantage

In a statement released to the press, Marie Antoi-gorelick said, “Let them eat cake.” It was noted that she was being lead to the guillotine by citizens bent on correcting her misbehavior.


40 posted on 09/23/2008 5:35:16 PM PDT by healy61
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