The Seatle PI reports that Google is attempting to get a better return on their cash without being regulated as a mutual fund by the SEC. Google submitted an application so that it can invest roughly $9.8 billion in municipal and corporate bonds instead of the low-yield government bonds it has right now. Microsoft recieved this same exemption from the SEC way back in 1988.

“The main U.S. national bank regulator failed to issue a public cease-and-desist order against Wells Fargo Bank NA (WFC.N) for weak money laundering controls, the U.S. Treasury Department’s Inspector General said. In a report issued on Friday, the Inspector General said examiners from the Office of the Comptroller of the Currency found numerous and recurring deficiencies with Wells Fargo’s anti-money-laundering practices from 1999 through 2004.”

From Reuters