Senate Finance Committee leaders have questioned the terms of the recent taxpayer-backed sale of Bear Stearns to JPMorgan Chase.
Committee Chairman Max Baucus, D-Mont., and ranking member Chuck Grassley, R-Iowa, wrote a letter to Bear Stearns CEO Alan D. Schwartz and JPMorgan Chase chairman and CEO James Dimon, as well as Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and Federal Reserve CEO Timothy Geithner, asking for the exact details of the sale agreement, how and by whom it was negotiated, and all the parties to the agreement.
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