Cuomo, Garcia Investigating CDS Markets

Law360, New York (October 20, 2008, 12:00 AM EDT) -- New York Attorney General Andrew M. Cuomo and U.S. Attorney Michael Garcia of the Southern District of New York have launched an investigation into the unregulated credit default swap market.

The investigation will focus on identifying possible violations of federal laws, Garcia's office said in a prepared statement on Monday.

“By combining the resources, expertise and legal authorities of the two offices, we are taking a comprehensive approach to this important issue,” Garcia's office said.

Cuomo's office could not immediately be reached for comment.

Cuomo's office...
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