The Death Of Wall St.

The Wall Street Journal reports that J.P. Morgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), Deutsche Bank AG (NYSE:DB)  and UBS AG are under investigation for allegedly having “misled investors about their roles in mortgage-bond deals.”

The New York Times writes that Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutsche Bank, Crédit Agricole and Merrill Lynch are being probed for providing “misleading information to rating agencies in order to inflate the grades of certain mortgage securities.”

The end of Wall St. as it has operated for decades.

Douglas A. McIntyre