We can’t get enough of this story so we are going to post an update each morning of the latest developments.
Monday, April 19
Don’t call it a comeback.
Politico: Spitzer: Goldman suit no coincidence
“This was not a coincidence,” asserted the former Democratic governor, who resigned after an affair with a prostitute became public. “There are no coincidences in this world. None.”
“It could be both a witch hunt and legitimate exercise of regulatory authority,” he added.
“The SEC is, by law, an independent agency. What it does it does not coordinate with the White House and we received no advance notice of any enforcement action,” Gibbs said.
Yet Gibbs also said the suit, which accused Goldman of deceiving investors about a financial instrument, is “a prescient reminder of what’s at stake.”
When asked whether the White House approves of the Democratic National Committee buying ads online to capitalize on the Goldman case, Gibbs declined to comment.
Meanwhile, Dodd’s financial reform bill is still progressing in the Senate.
HuffPost Hill: EXCLUSIVE: GAPS IN DODD BILL
Banks are combing Chris Dodd’s Wall Street reform bill looking for holes they drive their clients through. One K Streeter sends HuffPost’s Arthur Delaney over five pages worth that they’ve identified. If you’re designated as a Farm Credit System, say, you’re exempt from systemic risk regulation, don’t have to keep skin in the game when selling securitized bundles of garbage and won’t be overseen by the Consumer Financial Protection Agency. That and other cleverness here: http://bit.ly/9RRHqX
“Obtaining a carveout isn’t rocket science,” a Republican financial services lobbyist tells HuffPost Hill. “Just give Chairman Dodd and Chuck Schumer a shitload of money.”
And Matt Drudge never misses a chance to match up a headline with an interesting wire photo.
That was Monday. The jury is still out on the DNC’s ad buy timing.
The White House denies any collusion with the SEC’s lawsuit.
And Goldman’s earnings are out Tuesday.
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