FBI probes 14 corporations
Thursday January 31, 2008
The Federal Bureau of Investigation (FBI) is investigating some of Wall Streets biggest banks for crimes relating to the sub-prime mortgage crisis which has been blamed for the global credit crunch.
This follows on the back of the US attorney in Brooklyn launching a criminal investigation into two mortgage related hedge funds at Bear Stearns.
The FBI hasn't come out publicly to identify the companies they have targeted for investigation but US investment banks Merrill Lynch and Morgan Stanley have already come out publicly to say they are being investigated in relation to their sub-prime dealings.
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