Lawmaker (Darrell Issa) questions timing of SEC's Goldman case

Source: Reuters

(Reuters) - A top Republican lawmaker is raising questions about the U.S. Securities and Exchange Commission's fraud case against Goldman Sachs Group Inc, implying political motives -- a charge that the SEC denies.

Since the SEC sued Goldman for misrepresenting a debt product tied to subprime mortgages, some Democrats have said the case shows Congress should tighten financial oversight.

Republicans have raised questions about the timing of the SEC case, filed on Friday just before the Senate was due to start formally debating a bill that would usher in new rules for Wall Street.

"The timing of the SEC's filing of a civil securities fraud action against Goldman Sachs has created serious questions about the commission's independence and impartiality," said Darrell Issa, the top Republican on the House Oversight Committee, in a letter to the SEC on Tuesday.

SEC Chairman Mary Schapiro told reporters on Tuesday that the agency's decision to charge Goldman was "absolutely not" politically motivated.

Read more: http://www.reuters.com/article/idUSTRE63J51K20100420

as someone who's already been "straighted out" then. No sarcasm intended.

Like someone left a horse's head in his bed, as an "inducement" to not seek that office?

:)

A REALLY DUMB ONE! Last night they announced their record profits for this quarter! I doubt either was a political move but BOTH have political reprocussions!

All public companies have to file such information on a qaurterly basis, and it's public. So when you hear 'XXX company mady $$$' it doesn't mean they've put a press out about it. financial journalists and professionals know when that information is due and look for it on the SEC's EDGAR database, which is public.

Other reports have pointed out that the SEC's investigation of this has been going on since last summer.

filing a suit and filing a quarterly report. I sincerely doubt the SEC filed this suit just because there was legislation in congress. Agencies & law firms file suits when they believe they have a case they believe they can prove. To withold a suit woulde be just as wrong.

"The GOP effort is being led by the ranking member of the House Oversight and Government Reform Committee, Rep. Darrell Issa (R-Calif.),whose initial salvo was rebuffed recently at a contentious committee markup session. Under Issa’s amendment, any government policy group that Mrs. Obama or another first spouse regularly participates in would be subject to a law requiring meetings to be announced in advance and, in most instances, public."


http://74.125.95.132/search?q=cache:xf96XBiL0CoJ:mikk2.wordpress.com/2009/03/28/darrell-issa-issa-moron/+Darrell+ISSA+shady+business&cd=2&hl=en&ct=clnk&gl=ca




on edit: link

It had to be resuscitated before it could begin to prosecute the crooks on Wall Street. Darryl Issa knows that better than anyone.

By the way, Representative Issa, have you managed to audit the Fed yet? If not, why not? Are you timing that audit to give your side some political advantage?

He sounded very good. Almost. If he'd left out the cheapshot at Obama at the end he could have walked off as an intelligent, articulate man.

or God is mad at the banks.

It's because of him that California has been stuck with Der Gropenfeurher. He'll say anything.

the dems should run with, instead of away from, the timing angle, and use it as an opportune time to get the MSG out of why there needs to be change.

and also mention that it isn't ONLY GS that is involved with this SCAM.