Countrywide Said to Be Subject of Federal Criminal Inquiry mics,


	Countrywide Said to Be Subject of Federal Criminal Inquiry mics,

tabsey

3-10-2008 5:58 AM

130 views

tags:

economics, politics

tabsey says:

Would be good if the victims received some help - not the shareholders. Other companies are also being investigated. Hope it doesn't make us forget the perpetrators who made this mess.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/078d12fa-6dbb-4327-93ef-6d2e7ddd7ab0/AF3E4545-9E9B-47CF-B377-59DDF5E8F300/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.truthout.org/docs_2006/030908C.shtml" href="http://www.truthout.org/docs_2006/030908C.shtml" style="font-size: 11px;">www.truthout.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.truthout.org/docs_2006/030908C.shtml"><P><FONT size="1" face="Arial, Helvetica, sans-serif"><FONT size="2" face="Arial, Helvetica, sans-serif">    Washington - The federal authorities have opened a criminal inquiry into Countrywide Financial for suspected securities fraud as part of the continuing fallout over the mortgage crisis, government officials with knowledge of the case said on Saturday.
</FONT></FONT></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.truthout.org/docs_2006/030908C.shtml"><P><FONT size="1" face="Arial, Helvetica, sans-serif"><FONT size="2" face="Arial, Helvetica, sans-serif">    The Justice Department and the Federal Bureau of Investigation are looking at whether officials at Countrywide, the nation's largest mortgage lender, misrepresented its financial condition and the soundness of its loans in security filings, the officials said.
</FONT></FONT></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.truthout.org/docs_2006/030908C.shtml"><P><FONT size="1" face="Arial, Helvetica, sans-serif"><FONT size="2" face="Arial, Helvetica, sans-serif">    The investigation - first reported on Saturday in The Wall Street Journal - is at an early stage, said the officials, who spoke on the condition of anonymity because they were not authorized to discuss ongoing criminal matters. It is unclear whether anyone will ultimately be charged with a crime.
</FONT></FONT></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.truthout.org/docs_2006/030908C.shtml"><P><FONT size="1" face="Arial, Helvetica, sans-serif"><FONT size="2" face="Arial, Helvetica, sans-serif">    Richard Kolko, a spokesman for the F.B.I., declined on Saturday to confirm whether the agency had started an investigation of Countrywide related to its securities filings.
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