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WASHINGTON (AP) - The Securities and Exchange Commission is examining the near-collapse of two Bear Stearns hedge funds that made bad bets on the mortgage market.
The SEC inquiry is "informal" at this point and has not resulted in any subpoenas or formal document requests, a person familiar with the matter said Wednesday. This person spoke on condition of anonymity because the inquiry has not been publicly disclosed.
The existence of the probe was reported by BusinessWeek and CNBC on Monday.
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