Lawmaker Would Widen Probe Of Short Selling

Law360, New York (April 7, 2008, 12:00 AM EDT) -- A prominent House Democrat is demanding that the chairman of the U.S. Securities and Exchange Commission take a harder look at short-selling practices throughout the financial services industry in the wake of Bear Stearns Cos.' recent collapse.

Rep. Barney Frank (D-Mass.),chairman of the House Committee on Financial Services, sent a letter to SEC Chairman Christopher Cox on Friday, asking his agency to broaden its investigation of short selling beyond the questionable activities of Bear.

"I strongly encourage you to widen your review to include trading activity...
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