- Goldman Sees No Harm From Computer Programmer
- Justice Dept Said to Be Looking At Telecom Giants
- Lehman CEO: Firm Deserved Bailout or 'Wind Down'
- GM to Get Final $20 Billlion From US This Year
- Recession Special: Wine Cheaper Than Water!
- Facebook Director Sees 'Billions' in Revenue in 5 Years
- Jackson's Mom Asks to Manage Son's Estate
- Judge Gives Control of Jackson Estate to Executors
- The Weirdest Currencies in The World
- 5-Star Manager's 5 Top Stocks
- Hey, What's Up Doc?
- Busch: Summertime Blues Hits Investors
- Chadwick: Recession and Scandals Pave the Way for Romney 2012
- Art Cashin: The S&P's 'Head and Shoulders' Number
- Michael Jackson: Death And Taxes
- Is Andy’s Mojo Back? We Asked Him
- GM A Step Closer To Exiting Bankruptcy
- Schork Oil Outlook: The Fear Trade
Text Size 
Merrill Lynch has received requests from governmental agencies for information regarding auction-rate securities, including the recent failure of auctions, and is cooperating with the requests, the company said Tuesday.
The $330 billion market for the securities -- long-term bonds whose rates are reset periodically -- froze this winter.
Investors flooded dealers with paper backed by bond issuers whom they feared would lose their 'triple-A' credit ratings.
As a result, many municipal bond issuers, including ones whose creditworthiness was considered sound, were forced for several weeks to pay unusually high interest rates, often reaching well into double digits.
Merrill [MER
Loading...
()
] , an investment bank and brokerage, disclosed the information requests in a Securities and Exchange Commission filing.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes