the Fed's recent actions

WASHINGTON - Securities regulators haven't ruled out legal action over potentially misleading comments about the financial health of Bear Stearns made days before JPMorgan arranged to buy the struggling investment bank.The agency's enforcement division has written a letter to JPMorgan Chase & Co., which agreed to acquire Bear Stearns at the fire-sale price of $260.5 million Sunday in an emeLast Monday, when rumors started to circulate on Wall Street that Bear Stearns was short on liquidity and might not have enough cash to do business, the firm's executives tried to tamp down the negative chatter with a news release. It said Bear Stearns' "balance sheet, liquidity and capital remain strong. ... There is absolutely no truth to the rumors of liquidity problems that circulated today in the market."rgency deal backed up by the Federal Reserve.