More banks caught in CDO probe
Investigations into Wall Street mortgage bond deals have now added Deutsche Bank, Citigroup, UBS and JP Morgan to their list of targets, the WSJ reports.
The banks have joined Goldman Sachs and Morgan Stanley in a preliminary criminal probe by federal prosecutors, the Journal says. The SEC has also issued the four banks with civil subpoenas, as it scrutinises disclosures to investors in subprime-era CDOs.
AIG’s legal staff is also reviewing CDO deals the company insured, the Journal adds.
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