4 Financial Stock Stories to Start the Trading Week
Credit Suisse (NYSE:CS): Closing price $28.34
The United States Attorney’s Office in New Jersey is looking into mortgage-backed securities packaged and sold by Credit Suisse, according to inside sources, who also said that United States Attorney’s Offices in other areas are also concentrating on other banks in related investigations. However, it was not reported how many U.S. Attorneys were involved in trying to build cases in regards to the alleged misconduct by banks that led to the 2008 financial crisis. This particular task force, the Residential Mortgage-Backed Securities Working Group, was intended to coordinate a series of federal and state investigations into problematic loans that were packaged and sold to investors, a move which spread risk throughout world markets and was a large contributing factor to the financial crisis.
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