FBI investigating for fraud at Fannie Mae, Freddie Mac, Lehman Brothers and AIG

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FBI investigating for fraud at Fannie Mae, Freddie Mac, Lehman Brothers and AIG

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09-24-2008, 01:58 AM

docicu3

The Curragh

Join Date: Jun 2006

Posts: 2,778

Not that I am a complete simpleton but exactly what constitutes a bogus or fraudulent mortgage contract and how do they benefit a bank. If you can't pay for the damn thing doesn't it end up as bad debt for the bank. What's the deal here??

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