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Senators Max Baucus (D-Mt), Chair, and Senator Charles Grassley (R-Ia), Ranking Member, US Senate Finance Committee, are to be commended for requesting a hearing into the recent transaction involving the acquisition of Bear Stearns by JP Morgan Chase.
The senators are requesting that the corporate executives involved in negotiating the terms of the transaction, the Chairman of the US Federal Reserve Bank, Mr. Bernanke, Secretary of the Treasury Henry Paulson, and NY Fed Bank Governor, Timothy Geithner, appear before the committee for oversight hearings.
Below is a link to the letter from Sens. Baucus and Grassley to the interested parties:
http://www.senate.gov/~finance/press/Bpress/2008press/prb032608.pdf
Also, of interest. A link to the Federal Reserve Bank of New York:
