Investigations

20 Bailout Probes Under Way

Share prices are falling, Vikram Pandit’s job is reportedly in jeopardy, and now new reports of bank misdeeds. Feels like February again, no? USA Today reports that “A government watchdog has launched ‘almost 20’ criminal investigations related to the $700 billion financial bailout program.” According to the special inspector general for the program, Neil Barofsky, probes include possible public corruption; corporate, stock, and tax fraud; insider trading; and mortgage fraud. Barofsky would not say who is being investigated. Details will not be released until public action is taken.