Federal regulators aren’t just looking into whether
“As in most investigations, the issue comes down to what did people know and when did they know it,” said Mark Schonfeld, director of the SEC’s New York office. In the past few months, investment firms have written down more than $80 billion in mortgage-related assets.
Among the firms being investigated are
However, Walter Ricciardi, deputy director of the SEC’s enforcement division, added, “The fact that we’re investigating does not mean that we have uncovered wrongdoing. We don’t know now that we will be recommending any enforcement actions in the subprime area.”