Huffington Post and New York Times are reporting this morning that the AG's in both New York and Delaware have launched investigations into Bank of America securitization of mortgage pools.
NYT says that this involves several hundred billion in securitized assets that may never have been properly transfered into trusts, allowing investors to seek put backs. This affects most of the major US banks and folks like GS and MS as well.
True size of the US mortgage market that was securitized in appox $7 Trillion (as best as I can make out) ANd will envelop all of the banks
