Wednesday, September 24, 2008

Occassionaly CNN Does Offer Some Actual News

And gets it right....

CNN Reported Yesterday --- that the FBI are investigating the actions of the big players in the US financing and mortgage fiasco.

The FBI is investigating over 1400 firms in addition to the Federally backed FNM and FRE (aka FannieMay and FreddieMaC) along with AIG insurance and finance being at the top of the list.

For those of you who remember the HUD and Savings & Loan scandals of the 1980's you can expect to see a repeat of big names in politics running for cover and going to jail.

The main gist of the investigation centers around fraudulent loans and is expected to extend to the top of the corporate suite as well as boards of directors and members of Congress.

To quote the guy CNN interviewed yesterday "People will be going to jail." ....

This is 100 times bigger than the Enron fraud and many Democrat politicians and high profile supporters are involved.

Some background on the Involvement of Democrats in the mismanaged institutions :

Note .... the level of cash support for Democrats political campaigns originating from these publicly subsidized companies! Note also the WHO is on the list ... Obama, Clinton, Kerry, Dodd!


Labels: , , , , ,


Post a Comment

<< Home