WASHINGTON AP – Montana Sen. Jon Tester called for the government to investigate the downfall of investment bank Bear Stearns and whether it was related to insider trading.
Bear Stearns informed the government last month that it was on the verge of having to file for bankruptcy protection because nervous creditors were demanding to be repaid. The investment house was then purchased by JP Morgan Chase & Co. with assistance from the government in the form of a loan backed by $30 billion of Bear Stearns assets.
