Wall Street banks are being investigated by federal authorities on whether they "deliberately mispricing a type of mortgage bond that was central to the economic turmoil," The Wall Street Journal reports. Its the first "known wide-ranging examination of mortgage-bond sales by banks in the years that followed," The Journal reports. The investigation could upset the financial recovery those institutions have made, but it also could bring some accountability regarding the mortgage-sparked 2008 financial crisis.
In another financial development, JPMorgan has agreed to settle for $2 billion criminal charges that it failed to alert the government about Bernie Madoff's Ponzi scheme, The Washington Post reports.
Lawyer and Legal Journalist
