For Immediate Release
Friday, October 24, 2008
Contact: Josh Moenning
(402) 438-1598
Lincoln, NE - Congressman Jeff Fortenberry today urged U.S. Attorney General Michael Mukasey to investigate any and all financial institutions, corporations, and individuals that are suspected of criminal action relating to our current economic crisis. Fortenberry, and a bipartisan coalition of 30 House colleagues, joined in a letter to the Attorney General seeking a thorough investigation cooperating with financial crime units across federal agencies.
“Americans with no blame for the current financial mess are paying the price,” Fortenberry said. "The Department of Justice needs to thoroughly investigate any criminal malfeasance. Culpable individuals and institutions should be held accountable.”
Fortenberry has also helped introduce a bill to prevent the CEOs of Fannie Mae and Freddie Mac from receiving “golden parachutes,” millions of dollars in severance pay, and has supported efforts designed to prohibit taxpayer money from rewarding those that contributed to the nation’s current financial problems.
The text of the letter follows:
Dear Attorney General Mukasey:
In response to our government’s recent attempts to stabilize the economy, our constituents repeatedly ask us why they must pay the price to bail out failing financial institutions. They want to know why people who avoided engaging in risky financial behavior are responsible for the greed and recklessness of Wall Street. Our constituents are concerned about their retirement accounts, their savings, and how they can afford to send their kids to college. Since these taxpayers are forced to take a stake in the financial institutions that our government has chosen to assist, they have valid questions, and they deserve honest answers.
We recognize that as Attorney General of the United States, you investigate crime on behalf of the American people. Accordingly, we request that you conduct an appropriate and thorough investigation into any and all financial institutions, corporations, and individuals that are suspect of criminal action relating to our current economic crisis. We also ask that you seek cooperation from financial crime units in other federal agencies.
In order to help restore the public’s trust in our government, we believe that transparency and accountability is paramount, and therefore encourage you not only to respond to this letter, but also to periodically notify the committees of jurisdiction in Congress with the results of your investigation.
Also, we know that since the 2001 terrorist attacks, the F.B.I has shifted its primary focus from criminal investigations to counterterrorism efforts, resulting in a sharp decline of available resources to investigate white-collar crimes. However, the country’s economic climate clearly illustrates the need for the F.B.I. to drastically increase its efforts to investigate criminal activity such as mortgage fraud. We therefore ask that you would address this problem, and that you would acknowledge our request for the F.B.I. to focus the appropriate funding and manpower to investigate financial crimes.
During this time of financial uncertainty, people are looking to their government leaders for answers. Thank you for helping us assure them that the truth is being sought, and that justice will prevail.
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