(Source: By Nathaniel Popper and Alejandro Lazo, Los Angeles Times) – Reporting from New York and Los Angeles— California is considering joining New York and Delaware in a wide-ranging investigation into Wall Street’s role in the mortgage meltdown that could lead to criminal charges against financial executives.California Atty. Gen. Kamala Harris met with New York Atty. Gen. Eric Schneiderman on Thursday in San Francisco to discuss cooperating on the investigation, which is already one of the broadest to probe how banks encouraged the financial crisis through the creation of risky financial instruments backed by mortgages.
New York and Delaware have more than a dozen attorneys working full time on the effort and have subpoenaed or requested information from 13 financial firms, including Goldman Sachs and JPMorgan Chase & Co., according to people familiar with the investigation. The people spoke on condition of anonymity because of the sensitivity of the investigation.
Source: By Nathaniel Popper and Alejandro Lazo, Los Angeles Times
July 14, 2011, 5:48 p.m.
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