JP Morgan CEO Calls For Probe Into Bear's Collapse

Law360, New York (July 8, 2008, 12:00 AM EDT) -- JP Morgan Chase & Co. CEO James Dimon has called on the U.S. Securities and Exchange Commission to investigate whether short sellers illegitimately passed rumors to help drive down the stock of Bear Stearns Cos. Inc.

In an interview with PBS' Charlie Rose, which was televised Monday, Dimon said that if someone knowingly started a rumor or passed on a rumor about Bear Stearns — once the fifth-largest investment bank in the United States — then they should go to to jail.

“This is even worse...
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