Alert - Bear Stearns - JP Morgan Deal: Congress Review. Pressure from Investor Advocate Helped.

March 26, 2008 - PRLog -- On Monday, Paul Young, founder and CEO of Securities Arbitration Group formally called on Congress to review the JP Morgan Chase purchase of Bear Stearns and the $29 Billion to be guaranteed by the taxpayer, who, absent hearings, oversight, public comment and other regulatory review, is potentially on the hook to JP Morgan for tens of billions of dollars.

48 hours and now, Wednesday noon, the Senate Finance Committee chair and ranking member asked the principals for a memorandum to set forth the transaction and the guarantee.

Paul Young:  “Main Street has a voice, a strong advocacy voice and I believe the pressure we applied in the public arena, on Main Street where real people live and work and try to make it without government 95% guaranteed money and bailouts made a difference here and will in future.

“WE ARE AGAINST THE PURCHASE and also the government guarantee. No justification has yet to be shown for putting the taxpayers at risk to help a private company save itself from entering the bankruptcy courts.  The case has yet to be made that the financial structure of America, already in dismal shape with a worst case set of circumstances joining to harm most Americans that Washington must, must save Bear Stearns, to facilitate the purchase, and to guarantee up to $29 billion bucks,” said Young today immediately on learning of the Finance Committee’s preliminary letter of inquiry.”

On Monday, Paul Young, founder and CEO of Securities Arbitration Group formally called on Congress to put a halt to the deal between the two Wall Street giants to assess the fairness of the taxpayer guarantee for up to $29 Billion.

MEDIA ONLY: 1-310-880-8222 for immediate booking or interview. Otherwise, non-time sensitive general line 1-310-826-0278.

WHO WE ARE: Paul Young is a nationally recognized and experienced rep and advocate for burned investors who has personally recovered millions for burned investors via securities arbitration and mediation, case by case by case. Also a veteran MONEY MATTERS broadcast commentator, writer and columnist for print and Internet (Paul founded the Main Street Money webzine in 2000), who accurately forecast (in July, 06) this recession and earlier U.S. financial scandals and disasters, Paul is the founder of Securities Arbitration Group and of the non-govt. and fully free Securities Fraud Hotline @ 1-800-222-4724. Our national team’s job is to get money back for burned Main Streeters from Wall Street when and if they have been burned by their stockbroker, registered investment advisor, brokerage or other financial services firm.

Unaffiliated with any Wall Street or any financial or investment company of any kind, Paul’s constant and focused goal is recovering money for burned investors using securities arbitration and mediation.

For Burned Investors: The SECURITIES FRAUD HOTLINE is free and has been 24/7 for 19 years at 1-800-222-4724.

MEDIA ONLY: 1-310-880-8222 for immediate booking or interview. Otherwise, non-time sensitive general line 1-310-826-0278.

Email: FraudFight@gmail.com for all media and other inquiries.

“Dedicated to recovery for burned investors via arbitration.”

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Securities Arbitration Hotline is 24/7, free, nationwide, non-got., confidential for 20 years @ 1-800-222-4724.