The FBI has raided the offices of three hedge funds with a possibility of more raids on the way. With all of the shenanigans being pulled off by the banks, mortgage investor groups and hedge funds, one can only ask. What took them so long?
According to the Wall Street Journal it states that:
“The FBI is executing court-authorized search warrants in an ongoing investigation,” said Richard Kolko, a FBI spokesman, who declined to comment further.
The moves by the FBI follow an article by The Wall Street Journal describing an insider-trading investigation that is expected to encompass consultants, investment bankers, hedge-fund and mutual-fund traders. The investigation is said by people close to the situation to eclipse in size and magnitude past insider-trading probes.
One would hope that the FBI will expand its investigation and successfully prosecute those who have caused our nation financial hardship. If we don’t put these folks in jail, what deterrent will there be to stop others from doing the same thing?
What do you think?