Posted on 04/23/2010 4:57:04 PM PDT by Sub-Driver
SEC IG says he 'intends' to probe timing of Goldman charges By Jordan Fabian - 04/23/10 05:53 PM ET
The inspector general of the Securities and Exchange Commission (SEC) said Friday that he will likely investigate the timing of the agency's civil charges against Goldman Sachs.
The ranking Republican on the House Oversight and Government Reform Committee Darrell Issa (R-Calif.) sent a letter to the inspector general David Kotz earlier Friday questioning the timing of the civil charges against the banking giant in light of the financial reform debate in the Senate.
"I have received the letter and do intend to conduct an investigation at the request of Congressman Issa," Kotz said on Fox News. "We need to understand what led to the decision to announce or bring the case on that day. See if there was any undue influence involved and so we'll look very carefully to investigate that and see what we determine."
Kotz response was blasted out to the press by Issa's office.
Issa and other Republicans have implied that the SEC may have timed the charges to help bolster the chances of financial reform legislation passing, which all Republicans currently oppose.
Goldman is accused of creating a financial product based on subprime home mortgages that was intended to fail but did not notify clients who purchased it.
Democrats have rejected that sentiment, saying that the SEC is an independent government agency.
Looks like another IG will find himself without a job.
Yea, like I’m going to believe in an agency where their top employees spend most of their time looking at porn. And let Bernie steal billions right under their noses.
The info on the porn was a pre-emptive strike at the SEC. THey knew this IG report was coming down.
It’s another Friday dump.
I’m sure you are correct. Those 33 employees that we pay for, should all be fired and they should lose their benefits. I heard only 1 resigned and one was punished by 2 weeks off work without pay....whoop–de–doo.
Not that I am disagreeing, but pre-emptive strike by whom?
Uhh HUH, sure they will.
If he and they can get away fron the 12 hour days of computer porn
The corrupt investigating the corrupt. hum?
More Kabuki theater for the sheeple. Obama and GS are best of friends. GS knows it needs to do some penance and get a public flogging. They got it at a minimal price.
Plus 0bama gets some street credibility for being tough on Wall Street
Discrediting the IG of the SEC
Color me cynical, distrustful, downright disbelieving of anything coming out of this administration.
Discrediting the IG. That makes some sense. I was just wondering who would benefit by SEC employees being exposed as porn-consuming slackers. Obama wants the SEC action against Goldman to be taken seriously (I think, unless it’s all a charade because Goldman wants the Dodd bill to pass and are willing to play the “bad guy”). If the SEC is seen as incompetent, it undercuts their being taken seriously.
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