Fox Mulder leaves aliens for sub-prime
Written by A Forex View From Afar on Wednesday, January 30, 2008Back to www.thelfb.com
Fox Mulder has decided to leave behind aliens and extraterrestrial life and focus on US problems. One of those problems is the wide spread sub-prime, that almost bankrupt financial institutions.
FBI announced that it will start investigations on 14 companies related to the sub-prime crises, focusing on accounting fraud, securitization of loans and insider trading. These companies weren't nominated but they are probably the companies that made possible the sub-prime, from bundling to selling.
While Fox is on the run, chasing the sub-prime mess, Dana Scully will communicate with Justice Department, US Securities and Exchange Commission and various state attorneys.
I tend to agree with FBI by sending their top 2 agents; it's a miracle, a wonder, a rare phenomenal, all at the same time, how some bonds got AAA rating when some of them just didn't make out for triple C
Just for me (and the rest of planet) wasn't it easier just to have a real regulators on the financial system?
Source:
WSJ: FBI Launches Subprime Probe
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