Senators Seek Details About Bear Stearns Deal
It’s amazing how protective some politicians are of the deal that was struck between JP Morgan Chase and Bear Stearns. The details are not openly available. What’s really going on?
Some senior senators signaled their unease on Wednesday with the Federal Reserve’s rescue and they are demanding detailed information by next week about how the $30 billion deal was reached.
“The challenge from Capitol Hill is the most striking shot in a rising political battle about whether the Fed’s decision to provide emergency loans to major Wall Street investment banks should be accompanied by stricter regulation over their activities — as is already the case for commercial banks.”
[read whole story]
No Responses to “Senators Seek Details About Bear Stearns Deal”
You can leave a response, or trackback from your own site.