2010-01-18americanbankingnews.com

" The head of the Securities and Exchange Commission (SEC), Mary Schapiro, admitted today that it is investigating the sales practices of Collateralized Debt Obligations (CDOs) of Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and Goldman Sachs (NYSE:GS). The admission came before the Federal Crisis Inquiry Commission on Thursday and was the most direct indication to date that the regulators are investigating the sales practices of investment bankers that lead up the meltdown in the credit market and the collapse of the financial markets."


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