"Hello, AIG, this is the FBI." That sort of phone call could happen or may have already taken place. Tonight, sources tell CNN the FBI is investigating America's largest insurer, along with Fannie Mae, Freddie Mac and Lehman Brothers. The question: Are any of them guilty of mortgage fraud?
An FBI spokesman tells CNN 26 firms are currently under investigation. And, earlier this month, FBI director Robert Mueller told Congress that 1,400 individual real estate lenders, brokers and appraisers were under investigation in addition to two dozen corporations.
Meanwhile, on Capitol Hill, the $700 billion bailout proposal for financial firms faced with bad mortgages is still under heavy debate - from both sides of the aisle.
"I don't think a single call to my office about his proposal has been positive", said Sen. Sherrod Brown, D-Ohio. While, Sen. Jim Bunning, R-Kentucky said, "It is financial socialism and it's un-American".
Treasury Secretary Henry Paulson doesn't see it that way. He told members of Congress today the bailout money is needed now, and with few strings attached. "I am convinced that his bold approach will cost American families far less than the alternatives", Paulson said.
What are your thoughts on the bailout – deal or no deal?
We're also looking at the so-called "Road to Nowhere". Yes, it's tied to the dead "Bridge to Nowhere" that was supposed to link Ketchikan, Alaska to its airport on Gravina Island. The three-mile road was still built at a cost of $8 million a mile, paid for by your tax dollars. Could Gov. Sarah Palin stopped the road project? We'll tell you what we discovered.
And, wait till see you see the connections Senators Barack Obama and Joe Biden have to Alaska's "Bridge to Nowhere."
All that and more tonight on 360 at 10pm ET.
Hope you can join us.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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