http://www.cnn.com/2008/U...index.html

WASHINGTON (CNN) -- The FBI is investigating Indymac Bancorp for fraud, a source tells CNN.


A source tells CNN that the FBI is investigating California-based Indymac Bancorp.

The California-based bank was taken over by federal regulators last week.

Indymac's collapse was the second-largest bank failure in U.S. history.

A source with knowledge of the investigation said the federal government is looking into whether the bank engaged in fraud when it made home loans to high-risk borrowers.

The source said the investigation is focused primarily on the company, not individuals.


(more here: http://www.cnn.com/2008/U...index.html

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[Edited 7/16/08 13:41pm]

The only folks that need their asses kicked on this is the regulators. Why was no one paying attention when all these mortgages were being written?

Stymie said:

Republicans.

I'm not joking.

Wait.

Shit.


This is a news thread--not a political thread mods!