{"id":4600,"date":"2008-04-21T15:44:57","date_gmt":"2008-04-21T15:44:57","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/04\/us_representative_barney_frank"},"modified":"2022-03-25T15:19:18","modified_gmt":"2022-03-25T20:19:18","slug":"us-representative-barney-frank","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/us-representative-barney-frank\/","title":{"rendered":"U.S. Representative Barney Frank Calls on SEC to Widen Investigation of Improper Trading Rumors Surrounding Bear Stearns\u2019s Stock"},"content":{"rendered":"

U.S. Representative Barney Frank, the chairman of the House Financial Services Committee, is calling on the Securities and Exchange Commission to expand its probe into whether any improper trading<\/a> in investment banks’ shares has recently taken place. He wants the SEC to determine whether the rumors of misconduct are being circulated to drive certain investment banks, such as Bear Stearns, out of business.<\/p>\n

In a letter addressed to SEC Chairman Christopher Cox, Frank noted that there had been an “unusually high level of short-selling activity” in Bear Stearns stock right before the company fell apart. He also noted that similar trading in the stocks of other large investment banks has occurred.<\/p>\n

Frank cited concerns that some of this trading may be orchestrated by market participants that are trying to bring the share prices down. Frank is calling on the SEC to investigate trading activity of stocks in all the big investment banks.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

U.S. Representative Barney Frank, the chairman of the House Financial Services Committee, is calling on the Securities and Exchange Commission to expand its probe into whether any improper trading in investment banks’ shares has recently taken place. He wants the SEC to determine whether the rumors of misconduct are being circulated to drive certain investment […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3807,3830],"tags":[],"class_list":["post-4600","post","type-post","status-publish","format-standard","hentry","category-bear-stearns","category-short-term-trading"],"yoast_head":"\nU.S. Representative Barney Frank Calls on SEC to Widen Investigation of Improper Trading Rumors Surrounding Bear Stearns\u2019s Stock — Investor Lawyers Blog — April 21, 2008<\/title>\n<meta name=\"description\" content=\"U.S. Representative Barney Frank, the chairman of the House Financial Services Committee, is calling on the Securities and Exchange Commission to expand — April 21, 2008\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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