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Firms under scrutiny regarding certain bidding practices Antitrust and securities regulators are considering charges against a handful of large banks, bond insurers and some of their employees as part of an investigation into certain municipal-bond investments. Bank of America, UBS AG and bond insurer Financial Security Assurance Holdings Ltd. last month received notices from the Securities and Exchange Commission indicating civil enforcement action may be taken against them for potentially violating federal securities laws about bidding practices on contracts that manage municipal funds. The "Wells notices" sent by the SEC, which the companies disclosed in regulatory filings, also give the...

Exec warns of credit-bubble risks By Warren Giles and Mark Pittman Bloomberg News Article Last Updated: 05/10/2007 02:09:22 AM MDT Zurich - Bank of America Corp. chief executive Ken Lewis said a so-called credit bubble is about to break after six years of historically low interest rates and relaxed lending criteria. "We are close to a time when we'll look back and say we did some stupid things," Lewis said, speaking at a lunch at the Swiss-American Chamber of Commerce. "We need a little more sanity in a period in which everyone feels invincible and thinks this is different." Demand...