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| FBI investigates IndyMac for possible fraud: report |
| 2008-07-17 |
| The Federal Bureau of Investigation is probing IndyMac Bancorp Inc. for possible fraud in connection with home loans made to risky borrowers, according to a report Wednesday by the Associated Press. The report, which cited an unnamed law-enforcement source, said the FBI's investigation focuses on the company, which was taken over by the Federal Deposit Insurance Corp. last Friday, and not the people who ran it. |
| Posted by:Fred |
| #4 After housing, the next biggest pool of cash is in retirement pensions. Hold tight to yout pensions, if you can retire in the next 6 or so months do so. |
| Posted by: Redneck Jim 2008-07-17 23:54 |
| #3 Makes you wonder what the next BIG ripoff will be. They go from one to another, leaving total ruin in their path. What's next? IRA's maybe? |
| Posted by: bigjim-ky 2008-07-17 09:10 |
| #2 Sub-prime loans and the junk bonds of the day. I hope this buries those despicable goddamned things forever. |
| Posted by: bigjim-ky 2008-07-17 09:08 |
| #1 "the FBI's investigation focuses on the company... not the people who ran it" Ha ha... artful. This isn't a criminal investigation in any way. It's a public relations exercise. The gov't is using the news of an FBI investigation to influence market perceptions. The goal is for John Q. Public and various analysts to say "IndyMac's failure wasn't caused by mountains of bad debt, which could cause dozens of other banks to fail. The FBI is investigating for fraud, therefore IndyMac isn't typical, therefore we're all safe." Buy gold and silver ingots and bury them in your back yard. |
| Posted by: Plastic Snoopy 2008-07-17 00:19 |