Lawmaker Wants DOJ, SEC Probe Of Bear Stearns

Law360, New York (April 11, 2008, 12:00 AM EDT) -- A U.S. senator is pushing the Department of Justice and the Securities and Exchange Commission to investigate whether illegal insider trading contributed to the collapse of Bear Stearns Cos.

“I hope they tell me it was fear and nothing by market dynamics and not illegal trading,” Sen. Jon Tester (D-Mont.) said on Thursday. “But if there was insider trading and market manipulation, the proper law enforcement authorities of the United States government must respond with appropriate action and prosecute any wrongdoing to the fullest extent of...
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