The FBI has opened an investigation into Countrywide for suspected securities fraud, reports the New York Times. The Justice Department and FBI “are looking at whether officials at Countrywide, the nation’s largest mortgage lender, misrepresented its financial condition and the soundness of its loans in security filings.” So far everything is unofficial because nobody has been authorized to discuss the case, and a Countrywide spokeswoman says, “”We are not aware of any such investigation.”
The SEC doesn’t like stock spam. They’ve suspended trading in three companies as part of an anti-spam initiative, meant to deter e-mail campaigns that defraud investors.
David DeSmitdt’s retirement plan with J.P. Morgan got hacked and emptied, and there’s no federal laws to protect him.
We reported last week that the SEC has subpoenaed Overstock.com. And we all already know that Overstock CEO Patrick Byrne is out of his flipping mind. Put those two facts together? This amazing press release straight from Overstock.com, titled (we swear to god!) “Overstock.com Celebrates Receipt of SEC Subpoena.”
Overstock.com is an embattled victim under attack by its rivals and a cabal of journalists and shortsellers working to destroy its good name.
s enforcement division for subpoenaing two journalists, declaring their behavior renegade.
We know Overstock.com sometimes has crappy customer service, as we amusingly revealed.