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Business Briefing / Banking

Lawmakers start probe of Merrill

March 13, 2009|Times Wire Reports

House Democrats have begun an investigation into whether Merrill Lynch & Co. misled Congress about its plan to grant bonuses.

Rep. Edolphus Towns (D-N.Y.), chairman of the House Committee on Oversight and Government Reform, said the investigation also would review the veracity of statements made by other financial institutions to House investigators after New York Atty. Gen. Andrew Cuomo filed court papers this week accusing the company of making misleading statements to Congress.

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