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California reportedly subpoenas BofA over toxic securities

California is trying to determine whether BofA and its Countrywide Financial subsidiary sold investments backed by risky mortgages to investors in California under false pretenses, a source says. Investigators with the state attorney general's office have subpoenaed Bank of America Corp. in connection with the sale and marketing of troubled mortgage-backed securities to California investors, according to a person familiar with the probe.

Senh: Citigroup already got nailed. It's time for Bank of America and other banks. This is just wrong - peddling investment products to their clients while betting against them.

 

Probe of Mexican drug cartel leads to nearly 1,200 arrests in U.S.

Probe of Mexican drug cartel leads to nearly 1,200 arrests in U.S.

Authorities say recent raids have targeted La Familia Michoacana's fast-growing operations in California, Texas and other states.

In a series of recent raids throughout the United States, federal authorities have arrested nearly 1,200 people who they say are connected to one of Mexico's most aggressively expanding and deadly drug trafficking cartels, known as La Familia Michoacana, law enforcement officials told The Times' Washington bureau.

 

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