Senate panel to examine JPMorgan-Bear deal
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Wed, 26 Mar 2008 19:49:09 GMT |
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Reuters |
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US (Business) |
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WASHINGTON (Reuters) - U.S. Senate Banking Committee Chairman Christopher Dodd on Wednesday said JPMorgan Chase &Co's bid to acquire Bear Stearns Cos Inc raises regulatory and American taxpayer concerns.Dodd said he invited Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and Securities and Exchange Commission Chairman Christopher Cox to testify at an April 3 hearing to examine their roles in the transaction.He also invited JPMorgan Chase Chief Executive Jamie Dimon and Bear Stearns CEO Alan Schwartz to testify to explain the transaction which kept Bear Stearns from entering bankruptcy.(Reporting by John Poirier; Editing by Brian Moss)
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