Feds Investigating Financial Firms for Fraud

Lora Bentley

Bad news just keeps coming from the financial sector.

 

If the latest "meltdown," including the near demise of Fannie Mae, Freddie Mac and AIG, and the Lehman Bros. bankruptcy, isn't bad enough, the FBI is currently investigating all four firms for fraud. Citing an Associated Press report, CNN Money says the investigation will center on the organizations and those who run them.

 

The investigations come as similar probes are under way in lending institutions across the country following the initial implosion of the subprime lending market.



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