Posted on 04/20/2010 3:52:31 PM PDT by BP2
Congressman Darrell Issa, the ranking Republican on the House Oversight Committee, is initiating an investigation into the timing of the Security and Exchange Commission's fraud suit against Wall Street giant Goldman Sachs.
"The events of the past five days have fueled legitimate suspicion on the part of the American people that the Commission has attempted to assist the White House, the Democratic Party, and Congressional Democrats by timing this suit to coincide with the Senate's consideration of financial regulatory legislation," Issa says.
Issa's staff tells CBS News that they currently have no hard evidence that the SEC violated federal law by colluding with the White House. But they argue the timeline and the circumstances are fishy, and they point to two things in particular: the announcement of the fraud suit the week before Democrats planned to bring their financial reform bill to the Senate floor, and the amazing speed with which Organizing for America managed to purchase a Google ad directing people who typed "Goldman Sachs SEC" on Google to donate money at my.barackobama.com once the news broke on the New York Times website.
Issa's office is not going so far as to make an accusation of impropriety at this point. But they are requesting a raft of documents from the SEC - including "all known communications" between SEC employees and the Executive Office of the President, the Democratic National Committee, the DNC group Organizing for America, or the New York Times. They say if they don't get the documents they want from the SEC, there are "many avenues to pursue," including subpoenas.
This morning, CBS News caught up with SEC Chairman Mary Shapiro as she was departing a House Financial Services Committee hearing on Lehman Brothers' bankruptcy. We asked her if there was any political pressure put on the SEC to bring this suit against Goldman Sachs.
Her response, as she walked away: "Absolutely not."
A waste of time and a distraction. Fascist dictatorship = companies and president teaming up together...that’s what we have. Paulson was head of GS, so this charge was purposed by Obama and GS to distract from GS’s real crimes which under this regime will never be uncovered.
Campaign donations, favors, accusations of fascism should be raised in front of a camera...not this.
Could be, but I wonder if it’s not the best idea for the GOP to be on Goldman Sachs side on this one. They are a pretty slimy bunch.
I don’t argue with you. There are a large number of folks here who have tried to defend GS as some sort of hero of the free market system.
Anyone think that the charges were not pre-screened by Goldman lawyers et al before release? Any bets that SEC presented a laundry list of charges and Goldman was able to pick which one to file? The whole thing is a charade to make it look like the SEC and the Administration in general is “doing something†after bailing out their counter-parties. Billions in bailouts for the counter-parties and this is the penalty they have to pay? Hearings would be rich if the Republican staffers had just a little bit of imagination.
Great point !!! Dems might get caught believing the hype of 2008: that they'd rule for another 40 years, like they did from the 50's until the '94 mid-terms. Could get ugly when we shine some light.
SEC brings actions against small investors all the time. Or unpopular people like Martha Stewart.
Madoff however they ignore.
Impeachment. Trial. Conviction.
Agreed, however, showing the insider trading relationships with Treasury and their constructed con of the American People, and then pinning it on BO and his thugs....priceless!
Bookmark
The bailouts were done in the last administration. The counter party payments to GS through AIG which were basically taxpayer funds were done in part during the Obama Administration but formulated in the previous administration. The financial industry has captured both sides of the aisle.
This is an unexpected shot across the bow. They will try to crush it with indignation but the TPP (Tea Party Patriots)will rally by the millions. This Goldman attack is an attack on you. It is an attack on freedom . It is an attack on our precious free enterprise and it will be crushed.
GP has done nothing wrong. Perhaps you can explain your conclusion with specific facts. You are just drinking the Kool Aid.
Wow! Talk about drinking cool aid. Ever hear about some company called AIG? Ever hear about some guy named Paulson who told the Congress give me a Trillion or I will destroy your economy? Ever hear about derivatives that allowed Greece to hide its debt from the purchasers of its bonds? No. GS did nothing wrong at all. Nothing to see here folks. Just move along.
What did they do wrong? Give us benefit of your detailed wisdom.
Goldman did something wrong with AIG? What was it? Be specific.
Ever hear about some guy named Paulson
A guy named Paulson? You mean the Treasury Secretary? I thought we were talking about Goldman?
who told the Congress give me a Trillion or I will destroy your economy?
Paulson said he would destroy the economy? You have a source or are you making stuff up again?
Ever hear about derivatives that allowed Greece to hide its debt
I didn't realize Goldman was in charge of the books of Greece. You have a source for that claim?
Next you'll blame Goldman for Obama lying about the cost of Obamacare.
GS did nothing wrong at all.
Nothing that you've shown at least.
“Goldman Sachs has hired former White House counsel, Greg Craig, to advise it on litigation regarding the SEC suit.”
Ruh-roh!
:-)
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> Getting to the bottom of why the Obama administration is taking on Goldman > and taking them on now is not a winning issue for Republicans. I disagree. The GOP, despite their MANY faults, is being seen by a majority of 2010's voting electorate as the Cavalry that can save America from the Obama horde. Obama and the Dems are seen as CORRUPT INSIDERS after ObamaCare by a majority of Americans; deals cut with Goldman Sachs is yet another example of their corruption and influence for hire.
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