States Probe Banks' Role in Risky Loans

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States Probe Banks' Role in Risky Loans
By PAT EATON-ROBB,AP
Posted: 2008-01-12 17:33:32
HARTFORD, Conn. (AP) - Authorities in New York and Connecticut are investigating whether Wall Street banks hid crucial information about high-risk loans bundled into securities that were sold to investors, Connecticut's Attorney General said Saturday.

The investigations, first reported Saturday by The New York Times, center around "no-doc" or "exception" loans, that did not even meet subprime standards, Attorney General Richard Blumenthal said.

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