GOP seeks SEC records on Goldman

The Security and Exchange Commission (SEC) expects everyone to swallow the kool-aid that the charges against Goldman Sachs just happened to correspond when the Dodd Financial Bill is about to be announced. You could say it was a coincidence but that happens rarely in the Government or in politics.

Maybe it is time for Congress to investigate the SEC on how they handle their cases and what takes so long. If not for Cong Issa the Ranking Member of the Committee along with fellow Republicans, no Democrats would be questinioning what the SEC was doing which in itself is an indictment against the Democrats on the House Oversight Committee.

Why are the Democrats so against getting to the bottom of what actually happened? Is it because of the large donations they have been getting from the financial sector? We are against donations to members of Congress from any group they have oversight. It just makes sense not to take contributions from Banking if you are on the Banking Committee. It makes sense but will never happen as the current members of Congress want to continue incumbent protection. Goldman Sachs is an example of a company that played both sides of the aisle although donations of almost $1M to Obama is excessive by their employees.

We can only hope the head of the SEC is correct that this banking bill is not going to affect their investigations and we will be seeing more charges in the days ahead against companies in addition Goldman Sachs.

GOP seeks SEC records on Goldman

By MIKE ALLEN 4/20/10 2:25 PM EDT
Updated: 4/21/10 9:28 AM EDT

Rep. Darrell Issa has written a letter to the SEC demanding to know if the commission had any contact about the case, prior to its public release, with a variety of individuals.

Rep. Darrell Issa, the top Republican on the House Oversight committee, is demanding a slew of documents from the Securities and Exchange Commission, asserting that the timing of civil charges against Goldman Sachs raises “serious questions about the commission’s independence and impartiality.”

Issa’s letter, addressed to SEC Chairwoman Mary Schapiro and signed by eight other House Republicans, asks whether the commission had any contact about the case, prior to its public release, with White House aides, Democratic Party committee officials, or members of Congress or their staff.

“[W]e are concerned that politics have unduly influenced the decision and timing of the commission’s controversial enforcement action against Goldman,” Issa writes.
Issa implied that the timing was a bit too convenient, saying President Barack Obama’s push on Wall Street reform “neatly coincided with the commission’s announcement of the suit.”

SEC spokesman John Nester said: “We will respond as appropriate to the letter, but the Commission doesn't coordinate its enforcement actions with the White House, Congress, or political committees. Regulatory reform has been pending for the past year. We have brought many cases related to the financial crisis over that period and we will not let the reform debate deter us from bringing new ones.”

The letter is also signed by Republican Reps. Jim Jordan of Ohio, Jason Chaffetz of Utah, Patrick McHenry of North Carolina, Dan Burton of Indiana, John Mica of Florida, Blaine Luetkemeyer of Missouri, Aaron Schock of Illinois and Anh “Joseph” Cao of Louisiana.

Read more: Politico