Politicians ask Fed to clarify Bear deal

A high-ranking American politician has issued a strongly worded request for more details about the arrangement the Federal Reserve struck with BlackRock, an asset management firm, to manage a $29 billion portfolio of assets from Bear Stearns following the Fed's emergency assistance to the beleaguered investment bank.

In a letter addressed to Timothy Geithner, the president of the New York Federal Reserve, the Democrat chairman of the Committee on Oversight and Government Reform, Henry Waxman,

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