Reuters- Bear Stearns Cos plans to turn over documents to securities regulators showing that financial giants like Goldman Sachs Group, Citadel Investment Group and Paulson & Co cut their exposure to the securities firm before its collapse, the Wall Street Journal reported on Wednesday.
The Securities and Exchange Commission (SEC), as part of an inquiry into events surrounding the implosion of Bear Stearns in March, has sought and will examine these trading records, people familiar with the matter told the newspaper.
The SEC is expected to use the data to determine whether any trading activity was improperly coordinated, constituted manipulation or otherwise contributed to Bear Stearns’ collapse, the report said.
