Spitzer, talking to reporters after testifying before Congress on corporate governance issues, confirmed that charges are likely to be brought against some of the investment banks currently under investigation.
AFX News quotes Spitzer as saying that 'criminal charges are certainly possible......I think that there is a sense that someone should go to jail....Unfortunately, several ongoing investigations have revealed similar problems (to those exposed at Merrill) in other major investment houses.'
Although Spitzer would not identify the banks likely to be charged, he did confirm that his office had concluded its investigation of Merrill Lynch and that no further charges will be made against the bank.
Wall St Banks May Face Criminal Charges
AFX News reports that New York state attorney general Eliot Spitzer has said that it is possible that his office may bring criminal charges against several Wall Street houses after the completion of the ongoing investigations into analysts' conflict of interest.
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