Friday, April 18, 2008

More brown stuff hitting the fan in the US!

Auction-Bond Probes Widen; New York's Cuomo Subpoenas 18 Firms

Probes into the collapse of the auction-rate securities market are widening as state regulators from New York to Washington scrutinize how Wall Street peddled the bonds to investors and issuers. ``To have subpoenas and the threat of criminal investigations raised suggests that somebody has made up their mind that there really are abuses there,'' said Donald Langevoort, a former Securities and Exchange Commission attorney who now teaches securities law at Georgetown University in Washington. ``It certainly suggests something more than regulatory curiosity.''

Posted by tyrellcorporation @ 10:03 AM (469 views)
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