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WEDNESDAY, NOVEMBER 25, 2009
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PREMIUM NEWS ARCHIVE

bizworld Feds, N.Y. state join forces to investigate credit-default swaps.(Business)

Article from: The Virginian Pilot Article date: October 21, 2008

NEW YORK | Federal prosecutors and New York's attorney general said Monday they had taken the unusual step of joining forces to investigate the multitrillion-dollar credit-default swap market, an unregulated area of finance blamed for helping to fuel the credit crisis.

The offices of U.S. Attorney Michael Garcia and New York Attorney General Andrew Cuomo acknowledged the unique arrangement in separate statements.

"The attorney general believes that these unprecedented times call for unprecedented levels of effort and ...

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