First question - WHAT THE F*CK TOOK SO LONG?
Second question - WHAT THE F*CK TOOK SO LONG?
Man, I hope someone there reads HP. And ML-Implode too. It's all here. FROG MARCHES!! WE WANT FROG MARCHES!
Let's guess the 14 companies. Here's my list
1) Countrywide (of course)
3) First Federal
4) Wells Fargo
6) CIT Group
8) Merrill Lynch
9) KB Home
10) Toll Brothers
12) Fannie Mae
13) Freddie Mac
14) Bear Stearns
Man, it's tough to get it down to 14. Didn't even have room for MBIA and Ambac.
Thanks HP'ers for the link.
WASHINGTON (Reuters) - The FBI has opened investigations into 14 corporations as part of a crackdown on improper subprime lending, agency officials said on Tuesday.
FBI officials told reporters the probes involved potential violations including accounting fraud and insider trading.
They did not identify the companies, but said the probes reached across the industry to include developers, subprime lenders, companies that securitized loans and investment banks that held them.
The cases could lead to potential civil or criminal charges, the officials said.
The FBI said it was investigating the cases with the U.S. Securities and Exchange Commission, which has opened about three dozen investigations into the subprime market collapse.