Source Pravda.Ru

Three investment banks receive summons

UBS, Merrill Lynch & Company and the Bank of America Corporation received subpoenas to clear the case of auction-rate securities.

Massachusetts authorities cast doubt on the authenticity of information over the risks of auction-rate securities provided for bank investors.

Within the last couple of weeks there were a lot of calls and complaints over the “faked” deals, when people found out that they had bought auction market securities that are now frozen. In addition they could not get their money back.

Meanwhile numerous closed-end funds are trying to get their investors out of the mess.

Comments
Putin sets Merkel against Trump. She doesn't mind
Putin sets Merkel against Trump. She doesn't mind
Ukraine dreams of what it can do to Crimea after winning war with Russia
US-Russian confrontation: War is peace, freedom is slavery
Default more likely to hit American, rather than Russian economy
Russia refuses to build helicopter carriers, but considers aircraft carriers
Pilot shares his impressions after flying Su-57 fifth-generation fighter
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Boris Yeltsin tried to escape to US Embassy as USSR was falling apart
Terrorists attack police officers in Chechnya in a series of poorly prepared acts
Russia Must Die - The Deep State has Spoken
Oil prices may fall as USA saves record oil reserves
Putin sets Merkel against Trump. She doesn't mind
US-Russian confrontation: War is peace, freedom is slavery
Boris Yeltsin tried to escape to US Embassy as USSR was falling apart
Israel makes final warning to Iran
The ayatollahs now fear the collapse of the Iranian economy
North Korean government warns people of severe famine
Israel makes final warning to Iran
Putin sets Merkel against Trump. She doesn't mind
Ukraine dreams of what it can do to Crimea after winning war with Russia