FBI strained by fraud probes

[Bindare_Dundat]

Corporate fraud cases test agency's resources for investigating white-collar crime; TARP monitor says criminal probes are underway.

The FBI is investigating 38 cases of corporate fraud or financial institution wrongdoing tied to the economic crisis, and the federal bailout watchdog has already opened several criminal probes, officials told Congress Wednesday.

U.S. officials also said in testimony prepared for a Senate hearing that fraud cases were straining resources for investigating white-collar crime, and that the U.S. Justice Department backs proposed legislation to tighten financial-fraud laws.

Neil Barofsky, special inspector general for the $700 billion U.S. Troubled Asset Relief Program, or TARP, told the Senate Judiciary Committee that several criminal investigations related to the program were already under way.

"We have already opened several criminal investigations involving multiple jurisdictions, and ... are closely coordinating our executive-compensation oversight efforts with the New York State Attorney General," he said.

[Soul Crusher]

Corporate fraud cases test agency's resources for investigating white-collar crime; TARP monitor says criminal probes are underway.

The FBI is investigating 38 cases of corporate fraud or financial institution wrongdoing tied to the economic crisis, and the federal bailout watchdog has already opened several criminal probes, officials told Congress Wednesday.

U.S. officials also said in testimony prepared for a Senate hearing that fraud cases were straining resources for investigating white-collar crime, and that the U.S. Justice Department backs proposed legislation to tighten financial-fraud laws.

Neil Barofsky, special inspector general for the $700 billion U.S. Troubled Asset Relief Program, or TARP, told the Senate Judiciary Committee that several criminal investigations related to the program were already under way.

"We have already opened several criminal investigations involving multiple jurisdictions, and ... are closely coordinating our executive-compensation oversight efforts with the New York State Attorney General," he said.

________________________ ________________________ _____________

This is exactly why TARP was destined to fail from the get go.

[240 is Back]

_____________________________________________________________

This is exactly why TARP was destined to fail from the get go.

it's cute when repubs believe a president (Bush) would engineer an economic, social, and societal collapse, but would never allow a 911 to happen. 

Now we see the republican CTers reaching a point where they say a leader would allow millions to perish in starvation and civil messiness, but only because he's a dem leader.  A repub president wouldn't do such a thing.

[Soul Crusher]

it's cute when repubs believe a president (Bush) would engineer an economic, social, and societal collapse, but would never allow a 911 to happen. 

Now we see the republican CTers reaching a point where they say a leader would allow millions to perish in starvation and civil messiness, but only because he's a dem leader.  A repub president wouldn't do such a thing.

Obama pushed for TARP too and Pelosi called GOP house members unpatriotic for not supporting it.

I guess you forgot that one right??

[a_joker10]

it's cute when repubs believe a president (Bush) would engineer an economic, social, and societal collapse, but would never allow a 911 to happen. 

Now we see the republican CTers reaching a point where they say a leader would allow millions to perish in starvation and civil messiness, but only because he's a dem leader.  A repub president wouldn't do such a thing.

What are you talking about.

_____________________________________________________________

This is exactly why TARP was destined to fail from the get go.

The reason for it failing was because it is a poorly thought out exercise, just like the stimulus package and just like the bank stabilization program.
Which by the way is 3 times large then TARP.

This has nothing to do with any conspiracy.

Although I do have to give you credit at least your consistent.
Maybe the monster under your bed where actually FBI agents placing listening devices in your room to ensure that you would play with He-man.
You and Alex Jones should do a research project on this.

I would like to point it out that you brought up 9-11 on your own even though you keep saying that you won't talk about it anymore.

[Dan-O]

Buncha greedy fcukers.

I'm kinda pissed all over again...  just on my drive to work this morning, a small business owner called in to a local morning show to report that her company STILL can't get a loan.  Banks aren't lending money.  They took their fcuking TARP money and used it to buy other distressed banks and they're still greedily clinging to their funds.

So much for "lubricating the economy."  The only thing that got greased was the palms of greedy bank execs.