Friday, January 15, 2010

Justice Department eyes possible fraud on Wall Street

http://www.mcclatchydc.com/251/story/82408.html

Oh check it out, now their creating a Financial Fraud division, I guess the DoJ just didn't believe the FBI in 2004.
Talk about covering your ass as an after thought.


Turning its scrutiny to bigger fish in the subprime mortgage scandal, the Justice Department is investigating whether lenders or Wall Street firms defrauded investors in the sale of risky mortgage securities, its Criminal Division chief disclosed Thursday.

"We absolutely are looking at the conduct of the securitizers themselves, and what did they say to those who purchased the (securities)," Assistant Attorney General Lanny Breuer told a commission created by Congress to investigate causes of the nation's economic collapse.

"Candidly, (we) have been looking at that for awhile and are looking at that right now in a very key matter