What A Travesty….Newest Wall St. Probe Focuses On Muni Bets…..
Posted By thestatedtruth.com on May 14, 2010
These security firms are dirty skunk smelling sewer rats in 30 feet of nuclear waste…..they’re so bad that they glow in the dark.
The latest in a string of Wall Street inquiries is focused on municipal bonds. The SEC has reportedly opened a preliminary investigation into possible conflicts of interest among firms that sold municipal bonds and then set themselves up to profit if the bonds failed. The probe also seeks to determine whether firms used their own money to bet against the bonds and, if so, whether that fact was properly disclosed to investors. Several states are investigating the issue as well, including California, the country’s largest bond issuer. California’s inquiry is focused on Bank of America (BAC), Barclays (BCS), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM) and Morgan Stanley (MS).
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