Tuesday, April 20, 2010

Republicans Are Outraged At The Attacks On Poor, Defenseless Goldman Sachs

You've probably read about the fraud charges that the SEC has leveled against Goldman Sachs. Goldman has been accused of intentionally selling investors securities which they knew were designed to fail. People are outraged; the investors include institutions like pension funds and so forth, and Goldman has been a big cause of the financial collapse and has received billions of dollars in taxpayer money, which it has used to pay it's employees obscene bonuses.
Naturally, the Republicans are outraged at what happened. But not at Goldman, you see. They are actually outraged at the SEC for filing the charges, because it makes them look bad for defending the status quo in general and Goldman in particular. From Politico:
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. 

Of course they are concerned. Republicans wouldn't dream of ever taking political advantage, especially not regarding an issue as important as financial reform. Don't think that the millions of dollars they've taken from companies like Goldman Sachs would ever influence them to do anything other than what's best for America. 
They're probably trying to return that money right now, and if they can't, they'll go spend it on something that's not political, like strip clubs or private jet service.
And I'm sure that they're also concerned that Goldman, which only earned around $3.5 billion in the first three months of the year, won't be able to afford a decent attorney to defend itself against these charges. 
I'm not too concerned for them, myself. After all, not only are they too big to fail, but, as their CEO claims,  they're also "doing God's work."

1 comment:

  1. These jokers are just too much... come on independent voters - don't be fooled into voting these idiots back into power. The Republican party as it exists today must be driven out of existence of the United States is going to move forward.