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Wall Street inquiry expands beyond Goldman Sachs
Posted By admin On May 14, 2010 @ 9:56 am In U.S. News | Comments Disabled
The investigation that has been focused on Wall Street titan Goldman Sachs Group Inc. is widening to include questionable business practices of several other major banks.
New York Atty. Gen. Andrew Cuomo subpoenaed eight banks and three ratings firms late Wednesday, seeking information on how the banks may have tried to influence the ratings of mortgage-backed securities that eventually lost value with the housing market collapse.
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The banks on Thursday confirmed receiving the subpoenas and said they would cooperate.
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 Los Angeles Times: http://www.latimes.com/business/fi-wallstreet-probes-20100514,0,2813510.story
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