Multiple governmentagencies, from New York state attorney general Andrew Cuomo, to the U.S. Department of Justice, to the Securities and Exchange Commission, are all digging vigorously through the ruins of the financial markets. In July SEC chief Mary Schapiro told members of the House of Representatives Committee on Financial Services that the SEC had opened 439 investigations so far this year, compared to 395 last year, and issued over two times the number of subpoenas. According to a Justice spokeswoman, the Federal Bureau of Investigation is investigating more than 2,100 mortgage fraud cases, an increase of nearly 400 percent from five years ago.
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