Senate probing Bear Stearns bailout

Senate Finance Committee Chairman Max Baucus, D-Mont., and ranking Republican Chuck Grassley, R-Iowa, asked for details on the taxpayer-backed sale of investment firm Bear Stearns to JPMorgan Chase. "Americans are being asked to back a brand-new kind of transaction, to the tune of tens of billions of dollars," Baucus said in a statement. "Economic times are tight on Main Street as well as on Wall Street, and we have a responsibility to all taxpayers to review the details of this deal."

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