FBI investigating companies at heart of meltdown
Republicans and Democrats continued to wrangle over details of a proposed $700 billion bailout plan for ailing financial firms on Tuesday when the FBI stepped into the mix.
The federal agency is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, according to The Associated Press.
Two law enforcement officials said Tuesday the FBI is looking at potential fraud by
mortgage finance giants Fannie Mae and Freddie Mac, and insurer American International
Group Inc. Additionally, a senior law enforcement official said Lehman Brothers
Holdings Inc. also is under investigation.
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Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.
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Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
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Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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