CNBC's Charlie Gasparino reports that three firms involved in the auction rate security scandal are close to reaching a "global settlement" with regulators. Key points: Morgan Stanley (MS), JP Morgan (JPM), and Wachovia (WB) are close to settling with regulators. Merrill Lynch (MER), also implicated in the scandal, is apparently not involved in the deal. Attorner General Andrew Cuomo "would like to make this announcement today," but can't for bureaucratic reasons. Citigroup (C) and UBS (UBS) have already settled, and so are not part of the deal. Transcript: CNBC's Erin Burnett: WELCOME BACK, EVERYONE. WE WANT TO GET STRAIGHT TO CHARLIE GASPARINO WITH SOME MORE HEADLINES ABOUT THE NEWS HE'S BEEN BREAKING ABOUT A GLOBAL SETTLEMENT FOR THE AUCTION RATE SECURITIES FIASCO. CHARLIE. CNBC's on-air editor Charlie Gasparino: FROM WHAT WE UNDERSTAND SOURCES TELL CNBC THAT THREE FIRMS ARE ESSENTIALLY SLATED TO SETTLE THIS THING IMMINENTLY, WHICH MEANS EITHER TODAY OR IN THE COMING DAYS. AND THOSE FIRMS ARE MORGAN STANGLY, JPMORGAN, AND POSSIBLY WACHOVIA. SOURCES ALSO TELL CNBC THAT TALKS BETWEEN MERRILL AND REGULATOR, REMEMBER MERRILL'S ANOTHER FIRM INVOLVED IN THIS AUCTION RATE SECURITY SETTLEMENT INVESTIGATION, THAT THOSE TALKS HAVE TURNED CONTENTIOUS IN RECENT WEEKS. AND IT LOOKS LIKE AS IT STANDS NOW THAT MERRILL WILL NOT BE PART OF THIS BROADER SETTLEMENT. CUOMO'S OFFICE, FROM WHAT I UNDERSTAND, NEW YORK ATTORNEY GENERAL ANDREW CUOMO W ...
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CNBC's Charlie Gasparino reports that three firms involved in the auction rate security scandal are close to reaching a "global settlement" with regulators. Key points: Morgan Stanley (MS), JP Morgan (JPM), and Wachovia (WB) are close to settling with regulators. Merrill Lynch (MER), also implicated in the scandal, is apparently not involved in the deal. Attorner General Andrew Cuomo "would like to make this announcement today," but can't for bureaucratic reasons. Citigroup (C) and UBS (UBS) have already settled, and so are not part of the deal. Transcript: CNBC's Erin Burnett: WELCOME BACK, EVERYONE. WE WANT TO GET STRAIGHT TO CHARLIE GASPARINO WITH SOME MORE HEADLINES ABOUT THE NEWS HE'S BEEN BREAKING ABOUT A GLOBAL SETTLEMENT FOR THE AUCTION RATE SECURITIES FIASCO. CHARLIE. CNBC's on-air editor Charlie Gasparino: FROM WHAT WE UNDERSTAND SOURCES TELL CNBC THAT THREE FIRMS ARE ESSENTIALLY SLATED TO SETTLE THIS THING IMMINENTLY, WHICH MEANS EITHER TODAY OR IN THE COMING DAYS. AND THOSE FIRMS ARE MORGAN STANGLY, JPMORGAN, AND POSSIBLY WACHOVIA. SOURCES ALSO TELL CNBC THAT TALKS BETWEEN MERRILL AND REGULATOR, REMEMBER MERRILL'S ANOTHER FIRM INVOLVED IN THIS AUCTION RATE SECURITY SETTLEMENT INVESTIGATION, THAT THOSE TALKS HAVE TURNED CONTENTIOUS IN RECENT WEEKS. AND IT LOOKS LIKE AS IT STANDS NOW THAT MERRILL WILL NOT BE PART OF THIS BROADER SETTLEMENT. CUOMO'S OFFICE, FROM WHAT I UNDERSTAND, NEW YORK ATTORNEY GENERAL ANDREW CUOMO W ...