Mass. Officials Probe Merrill On Subprime Investment.

This article reports on an investigation by Massachusetts officials on the role played by Merrill Lynch in investments linked to subprime mortgages that the firm sold to the city of Springfield. An estimated losses of 13 million U.S. dollars were associated with the investments. According to Brian McNiff, spokesman for Massachusetts' Secretary of State William Galvin, subpoenas have been issued to the company which aims to obtain information as to the investments it had sold to Springfield.