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Several other banks are the targets of a multistate probe into how auction rate securities were presented and sold to investors, including Citigroup (nyse: C - news - people ), Merrill Lynch (nyse: MER - news - people ) and Morgan Stanley (nyse: MS - news - people ).
FORBES: Another Legal Headache For UBS
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Earlier this year, a group of unions called the Change to Win coalition sent letters to a variety of big lenders, including Bank of America (nyse: BAC - news - people ), Citigroup (nyse: C - news - people ), Merrill Lynch (nyse: MER - news - people ), Morgan Stanley (nyse: MS - news - people ), and Wachovia (nyse: WB - news - people ) and WaMu, demanding to know why they hadn't spotted the warning signs in the mortgage markets earlier.
FORBES: WaMu And Friends
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Stanley (nyse: SXE - news - people ) O'Neal of Merrill Lynch (nyse: MER - news - people ), Charles Prince of Citigroup (nyse: C - news - people ), and Peter Wuffli at UBS (nyse: UBS - news - people ) have all been pushed out over their firms' subprime-related losses.
FORBES: Bear Names New Head Of Securities Unit