Senate Subpoenas Four Wall Street Firms
Four Wall Street firms have received subpoenas from US Senate investigators who are examining whether the firms improperly structured transactions to help hedge funds avoid dividend taxes, The Wall Street Journal reported on its website. More
Also….
A Congressional committee said on Monday it invited current and former chief executives of three major financial institutions — Countrywide Financial Corp Countrywide Financial CorpCFC
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[CFC 6.09 
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], Citigroup Citigroup IncC
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[C 29.06 
0.50 (+1.75%) ] and Merrill Lynch Merrill Lynch & Co IncMER
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[MER 55.97 1.28 (+2.34%) ] — to testify on Feb. 7 about their severance packages.
The House Committee on Oversight and Government Reform said the testimony from the executives at companies linked to subprime mortgage problems was sought “as part of its ongoing investigation into executive pay.”
The panel said it invited Countrywide CEO Angelo Mozilo, former Citigroup CEO Charles Prince and former Merrill Lynch CEO Stanley O’Neal to testify at the hearing.
Can’t wait to see it on TV.
