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March 27, 2008
Posted: 08:50 AM ET
Sens. Max Baucus, left, and Charles Grassley are seeking more information about the Bear Stearns bailout.
WASHINGTON (CNN) – Key senators are asking questions about the recent pennies-on-the-dollar sale of investment firm Bear Stearns to JPMorgan Chase. JPMorgan Chase was able to buy the troubled Wall Street firm after the Federal Reserve backed it with billions in taxpayer dollars. onomic times are tight on Main Street as well as Wall Street, and we have a responsibility to all taxpayers to review the details of this deal," Sen. Max Baucus, D-Montana, said in a statement announcing a request for information. Baucus is chairman of the Senate Finance Committee. Filed under: Uncategorized |
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