Timing of Goldman Fraud Case no Coincidence
NY Post has a piece which says that the impetus for the civil fraud suit coming from the SEC is kind of suspicious being that the boss of the SEC wants this bill passed, i.e. Obama. The SEC is using the hatred of Wall Street as a reason that they should be regulated. Goldman Sachs is exhibit A.
Barclays banking analyst Roger Freeman comes right out and blasts the SEC effort as “a well-timed, and perhaps not coincidental, effort to sway some on-the-fence Republicans” to get tough on financial reform.
“Targeting GS, given the flurry of anti-Wall Street press that has centered around that firm, offers the publicity that the administration needs at this critical juncture,” Freeman says in a note to clients today.
He says Senate Finance Committee Chairman Chris Dodd has targeted a vote on the Senate bill for April 26, “and given the short span of time between now and the end of the month, we are not surprised to see the stepped up support for the bill.”Rush Latched onto that and wrote more about the unusual timing. You would think that Congress with all their inquiries would have the time for one more investigation. Via Rush:
Lo and behold, after nine months of investigation, this SEC investigation, nine months, miraculously, by one of the most profound coincidences, they announce the results of the investigation, that there has been fraud at Goldman Sachs involving mortgage-backed securities, derivatives and all this sort of thing, the day after Obama makes his big pitch for financial regulatory reform and Chris Dodd's on the floor of the Senate, and, lo and behold, by Friday and Saturday we had stories, and I've got 'em here in the Stack of Stuff, talking about how this might be a propitious event.
...Goldman Sachs, rotten to the core, meaning Wall Street's rotten to the core, meaning the regime has to come in here to save the day, protect us, the little guy, from these bandits on Wall Street, when in fact the government caused the problem in the first place. It was a government-caused problem.
The Big Picture: SEC v. Goldman Sachs; Timing and Methods are Curious
Sweetness and Light: Rahm Emanuel's Ties to Goldman Sachs