On the AP wires... http://hosted.ap.org/dynamic/storie...TION?SITE=MAFAL&SECTION=HOME&TEMPLATE=DEFAULT
Does it actually make a difference now, the stocks are either bankrupt or trading around a dollar. This would have been news 1 or 2 years ago, today it doesn't matter after the fact investors have lost billions and billions of dollars. A little to late.
Would this FBI news make the $700 billion less tempting a handout?? If any company excepts moneys from the public purse it leaves them exposed to this type of unwanted investigation futher down the line?
They aren't just looking at the companies directors. If you manipulated the stock, you are FUBAR'd. It 's the end for many a hedgefund. Everything matters. If you did the deed, you're toast, financially, or technically.
WOW! FRE and FNM cooked the books and there are guaranteed criminal charges... On CNN AC360 - even members of congress will with certainty go to jail for receiving payments from the GSEs, and then the congress members were protecting them so that no one could touch FRE and FNM. This has historical proportions of corruption in Washington DC and Wall Street written all over it! Paulson and other Wall Street bigwigs were probably in on it as well... as they spun off derivatives of this fraud. Wow... :eek:
My guess is the investigations will get just far enough to implicate corporate higher ups, but will fall short of congressional or admin involvement and corruption, but your words do give me a little ray of hope. It would be sweet to see gov held accountable for their involvement. They are, after all, the guardians of our money.