NEW YORK (AP) -- New York Attorney General Andrew Cuomo said Thursday he'll file suit against Merrill Lynch & Co. over its role in selling auction-rate securities if an agreement isn't reached by the end of the day.Cuomo, who along with other regulators has reached $42 billion worth of settlements with five major Wall Street banks, said talks with the world's largest brokerage were at an impasse.
He said his office had given Merrill a five-day warning that it planned to take legal action; the warning expires Thursday. The attorney general pledged to file suit in New York State Supreme Court by Friday morning.
"Enough is enough," Cuomo told The Associated Press in an interview. "Delay doesn't work as a tactic. I want them to come in quickly and resolve this expeditiously."
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