Friday, February 8, 2008
The Department of Justice has notified the SEC that it wants to review the information the SEC has gathered in its inquiry into Merrill Lynch's practices in valuing mortgage bonds and whether it inflated those values. The SEC, meanwhile, upgraded its inquiry into a formal investigation. The DOJ and state attorneys general are looking into mortgage bond practices at other investment firms. WSJ, Prosecutors Widen Probes Into Subprime.