by Calculated Risk on 9/24/2008 01:07:00 AM

From the WSJ: FBI Investigates Four Firms at Heart of the Mess

The Federal Bureau of Investigation's preliminary inquiries are focusing on whether fraud helped cause some of the troubles at Fannie Mae, Freddie Mac, Lehman Brothers Holdings Inc. and American International Group Inc., according to senior law-enforcement officials.
...
Pressure is building for the FBI and regulators to hold top executives accountable for the crisis that has crippled the nation's finance sector. ... Investigators say that despite calls from some quarters to prosecute wealthy bankers who helped fuel the mortgage bubble, it is unclear what crimes they will find at the root of the exotic financial vehicles that have sickened banks around the world.