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Merrill, Credit Suisse Settle With NY State, Buy Back $61B In Debt

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First Posted: 07- 7-09 03:10 PM   |   Updated: 07- 7-09 03:23 PM

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Read More: Andrew Cuomo, Auction Rate Securities, Credit Suisse, Merrill Lynch, Business News
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Reuters:

NEW YORK, July 7 (Reuters) - New York Attorney General Andrew Cuomo announced final settlements with Credit Suisse Securities LLC and Merrill Lynch & Co over their sale of debt that became illiquid despite being marketed as being as safe as cash.

The brokerages are the last of 11 securities firms that agreed to buy back more than $61 billion of so-called auction-rate debt, Cuomo said. These firms also paid hundreds of millions of dollars of fines.

Read the whole story: Reuters

NEW YORK, July 7 (Reuters) - New York Attorney General Andrew Cuomo announced final settlements with Credit Suisse Securities LLC and Merrill Lynch & Co over their sale of debt that became illiquid d...
NEW YORK, July 7 (Reuters) - New York Attorney General Andrew Cuomo announced final settlements with Credit Suisse Securities LLC and Merrill Lynch & Co over their sale of debt that became illiquid d...
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