Wall Street Firms Subpoenaed In Mortgage Probe

Law360, New York (December 5, 2007, 12:00 AM EST) -- The New York attorney general has reportedly subpoenaed several Wall Street firms regarding their practices of selling debt tied to high-risk mortgages.

Attorney General Andrew Cuomo has sent the subpoenas to Merrill Lynch & Co., Bear Stearns Cos. and others, said a Wednesday report in the Wall Street Journal citing unnamed sources. The AG's office, Merrill Lynch and Bear Stearns did not return calls for comment Wednesday.

Cuomo's probe is part of a look into the mortgage industry and whether investment firms adequately looked at the...
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