An investigation has begun by the FBI looking at four major US financial institutions which are caught up in the current financial crisis which is affecting the world.
They are investigating possible fraud by Fannie Mae and Freddie Mac, the failed bank Lehman Brothers and insurer AIG. Top managers at those firms are also being investigated the report today revealed.
In the past year the FBI have began an enquiry across the entire financial market after the US housing market slumped dramatically. It was initiated by the way high risk mortgages were being sold. It was looking at lenders that were selling home loans to buyers with low or unpredicted income and also the investment banks that packaged these loans and sold them on. Turbulent times have shattered the financial market across many countries and investigations like these will no doubt pop up in the future.
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