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FBI Looking Into Nation’s Financial Meltdown

Behind every good meltdown is a potential scandal. With the financial market melting quickly, the FBI is stepping in to see if there’s any criminal wrongdoing.

By Lara Jakes Jordan
The Associated Press
WASHINGTON — The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, The Associated Press has learned.
Two law enforcement officials said Tuesday the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, and insurer American International Group Inc. Additionally, a senior law enforcement official said Lehman Brothers Holdings Inc. also is under investigation.
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