Enter the FBI

[WillowTree]

FBI Probes Companies at Heart of Crisis - FOXBusiness.com

 

[I Missthe North]

Is that really a responsibility of the FBI? Not that I know their charter by heart, but I would think the IRS or some other accounting agency would deal with this. Shows what I know.

 

[CrimsonWhite]

Is that really a responsibility of the FBI? Not that I know their charter by heart, but I would think the IRS or some other accounting agency would deal with this. Shows what I know.

The FBI's primary responsibility has always been the protection of the governments assets. That is why they investigate all bank robberies. Bank funds are preotected by FDIC which is an arm of the US govt. This is well within their purview.

 

[Care4all]

here's an earlier article which explains more...

Washington Times - FBI expands subprime mortgage crisis probe

 

[HoleInTheVoid]

The FBI's primary responsibility has always been the protection of the governments assets. That is why they investigate all bank robberies. Bank funds are preotected by FDIC which is an arm of the US govt. This is well within their purview.

Federal assets, yes.

They also investigate crimes that cross state lines...and Heaven knows that would include this.

 

[Care4all]

we are bailing out thieves....

Washington Times - FBI expands subprime mortgage crisis probe

 

[random3434]

we are bailing out thieves....

Washington Times - FBI expands subprime mortgage crisis probe

And the thing that SUCKS the most, is we, Americans, are helpless to do anything about it right now.

 

[Mr. President]

If they investigated before this happened we wouldn' be here

 

[WillowTree]

And the assholes put Martha Effen Stewart in prison.

 

[KittenKoder]

And the assholes put Martha Effen Stewart in prison.

Why is that important? Martha did a crime, she got punished, case closed. She is no better than the ones in this case.

 

[WillowTree]

Why is that important? Martha did a crime, she got punished, case closed. She is no better than the ones in this case.

doh! doh! we have to explain everything??? It was a WALL STREET CRIME. AN INSIDER JOB. did I talk slowly enough that time?

 

[KittenKoder]

doh! doh! we have to explain everything??? It was a WALL STREET CRIME. AN INSIDER JOB. did I talk slowly enough that time?

Actually, now your bringing up Martha is even less clear.

 

[Gunny]

If they investigated before this happened we wouldn' be here

Which investigation or bailout since the mid-70s would you prefer?

 

[WillowTree]

Actually, now your bringing up Martha is even less clear.

can't help ya then. sorry

 

[CrimsonWhite]

If they investigated before this happened we wouldn' be here

Yeah, because we are so good at investigating things before they happen. Read what you typed again slowly. If it still makes sense then slap yourself in the fucking head.

 

[Diuretic]

If they investigated before this happened we wouldn' be here

Until something happens then there's nothing to investigate.

 

[editec]

They're on a scapegoat hunt, folks.

Oh, I do not doubt that some mortgage orginators probably did some bad things, but the problem really stems from bad laws, bad polcies and crappy regulation, and truly incompetent risk asssessment.

And the people who wrote bad laws, allowed bad policies, oversaw crappy regulating, and gave the market terrible risk assessments?

They broke no laws.

But hey, if the FBI can find a few bad apples? Maybe we're forget how truly imcompetent the people in charge really were, eh?

We saw this same thing happend during the Saving and Loan disaster, didn't we?

Charles Keating died for their sins, folks.

Not that he wasn't criminal (I guess), but -- boy oh boy! -- did we hear a LOT about him, and not a whole lot about how the whole SYSTEM was screwed up by the masters of our universe.

Keep you eyes on the prize, and in this case the prize is understanding the SYSTEMIC flaws in the system.

If ANYONE should go to prison, it's the bond rating agencies.

They took very high fees to assess the risk in those bonds, and they failed UTTERLY to do their jobs, didn't they?

 

[RetiredGySgt]

Until something happens then there's nothing to investigate.

That little gem escapes some people.

 

[editec]

It is the task of the FED and TREAURY and SEC to monitor investments and their impact on the economy.

Had they done so, this mess would NOT have happened UNLESS they wanted it to happen.

So one can conclude only two possible things:

1. either they WANTED this to happen; or

2. They were stunningly incompetent.

Now the same incompetent people are solving the problem how?

By protecting the people who caused the mess to begin with, and the people who tooks risks and KNEW they were taking risks, but NOT the public which was stupid enough to think that the price of real estate would never decline and who just wanted to own their own homes.

Socialism for the rich and either incompetent or criminal, and capitalism for the foolish but honest.

Typical of how America reacts to problems like these.

We have always been in a class war in america, but the war is becoming more obvious all the time.

 

[KittenKoder]

It is the task of the FED and TREAURY and SEC to monitor investments and their impact on the economy.

Had they done so, this mess would NOT have happened UNLESS they wanted it to happen.

So one can conclude only two possible things:

1. either they WANTED this to happen; or

2. They were stunningly incompetent.

Now the same incompetent people are solving the problem how?

By protecting the people who caused the mess to begin with, and the people who tooks risks and KNEW they were taking risks, but NOT the public which was stupid enough to think that the price of real estate would never decline and who just wanted to own their own homes.

Socialism for the rich and either incompetent or criminal, and capitalism for the foolish but honest.

Typical of how America reacts to problems like these.

We have always been in a class war in america, but the war is becoming more obvious all the time.

Nice dream, if only it was that simple.