Brooklyn Federal Prosecutor Leads Subprime Task Force

The U.S. Attorney for the Eastern District of New York (Brooklyn) has set up a special taskforce of federal, state and local agencies to investigate possible crimes relating to the subprime mortgage crisis.  Investigations already underway include USB( alleged improper valuation of mortgage holdings), Bear Stearns (collapse of two hedge funds) and American Home Mortgage Investment (possible accounting fraud).  WSJ, Wall Street, Lenders Face Subprime Scrutiny.