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'We Are Running Under the Radar': Morgan Stanley in $3.2 Billion Mortgage-Bond Pact

Updated on
  • Ends federal-state probe into bank's role in financial crisis
  • Deal includes $2.6 billion in payments previously disclosed

Morgan Stanley agreed to pay $3.2 billion to end a joint federal-state investigation into its handling of mortgage-backed securities, the fourth deal to be struck in a probe of the role played by big U.S. banks in the subprime mortgage meltdown and the financial crisis it spawned.

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