NY attorney general investigating eight banks: report

[cory777]

Source: Reuters

WASHINGTON (Reuters) – The New York attorney general has begun an investigation into eight banks to determine whether they provided misleading information to agencies that rate mortgage securities, The New York Times reported on Thursday.

New York Attorney General Andrew Cuomo's office issued subpoenas late on Wednesday notifying the banks of his investigation, the Times reported on its Web site, citing two people with knowledge of the probe.

According to the report, the probe's targets are Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutsche Bank, Credit Agricole and Merrill Lynch, now owned by Bank of America.

The inquiry by Cuomo suggests he thinks the rating agencies may have been duped by one or more of the targets of his investigation, the report said.

Read more: http://news.yahoo.com/s/nm/20100513/us_nm/us_newyork_banks_probe

[pundaint]

1. Watch out for investigations of your private life, and good for you Mr. Cuomo.

[iandhr]

2. Since he is a candidate for Governor...

It would not be a bad idea for him to appoint a special council because he could be a accused of playing politics going after these people.


But i still like this move.

[AllentownJake]

3. Cuomo

:loveya:

Swoon, a real fighter for the people.

New York you have no clue how lucky you are!

[iandhr]

4. we do

I worked on a primary campaign of Sean Maloney someone who ran against Cuomo in the 06 primary. But I am a huge Cuomo fan now

[aquart]

5. If he successfully prosecutes the banks, he's got my vote.

For president, eventually. I want a mean-sticked trustbuster.

[OhioChick]

6. Criminal probe targets 6 Wall Street firms: Source

Source: Reuters

14 May 2010, 0043 hrs IST,REUTERS

WASHINGTON/NEW YORK: US prosecutors are conducting a broad criminal investigation of six major Wall Street banks, including JPMorgan Chase & Co and Citigroup Inc, to determine if they misled investors, a person familiar with the matter said on Thursday.

The others are Deutsche Bank AG, UBS AG, Morgan Stanley and Goldman Sachs Group Inc , the source said.

The investigation, being conducted with the Securities and Exchange Commission, comes as Wall Street and major banks around the world are attracting scrutiny from regulators who are looking at transactions that occurred in the run-up to the subprime mortgage meltdown and financial crisis.

The source said the investigation includes mortgage-bond deals, that it is in an early stage and that it might not necessarily lead to criminal charges against all of the firms. The person spoke anonymously because the probe is ongoing.

Separately, New York authorities opened an investigation into whether eight banks, including Citigroup, Goldman Sachs and Morgan Stanley, misled rating agencies with regard to mortgage-derivative deals, a separate source familiar with the matter said on Thursday.

New York Attorney General Andrew Cuomo's office served subpoenas on Wednesday to four U.S. banks and four European lenders, the source said. Cuomo is also targeting Credit Agricole SA, Credit Suisse Groupe AG, Deutsche Bank, UBS and Merrill Lynch, now owned by Bank of America Corp, the second source said.





Read more: http://economictimes.indiatimes.com/markets/global-markets/Criminal-probe-targets-6-Wall-Street-firms-Source/articleshow/5928309.cms

[NBachers]

7. So if each of these corporations is a person, can they be put in jail

for life without parole, or executed?

[ArcticFox]

8. My wish exactly