Merrill 3Q loss widens on mortgage-related charges (AP)

AP - Merrill Lynch says it third-quarter loss widened as it took more than $12 billion in charges from the sale of mortgage-related investments and fallout from the continued credit crisis. Read more…

FBI probes finance giants for fraud: report (AFP)

24.09.2008 04:40 Finance

WASHINGTON (AFP) - The US Federal Bureau of Investigation is probing allegations of fraud by finance giants Lehman Brothers, Fannie Mae and Freddie Mac, and insurer AIG, US media reported on Tuesday.

CNN said the mortgage, investment and insurance titans were part of a fraud inquiry by the FBI, which has widened its net to include probes of 26 Wall Street firms as lawmakers rush to agree a 700-billion-dollar government bailout of the troubled US financial sector.

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