Sunday, August 24, 2008

NCC Probe

"National City Corp [NCC-NYSE] disclosed in a regulatory filing it is the subject of an 'informal' [SEC] investigation related to matters including loan underwriting, bank regulatory matters, and a $1.3 billion sale of a subsidiary in 2006", WSJ, 9 August 2008.

I welcome this probe having called for it in my 18 June 2008 post. I await its results to see if the SEC really investigated NCC's financial reporting or concealed problems with it. Hey Cox, I'm watching you. Don't flub this one.

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