The SEC reportedly opens a preliminary probe into Wall Street firms that sold muni bonds and...

|By:, SA News Editor

The SEC reportedly opens a preliminary probe into Wall Street firms that sold muni bonds and then profited by betting against them. Several states are looking into the issue as well, including a California inquiry focused on BofA (BAC -1.9%), Barclays (BCS -4.2%), Citigroup (C -1.7%), Goldman (GS -0.8%), JPMorgan (JPM) and Morgan Stanley (MS -0.8%). (see also: I, II)