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Frank: Goldman Case Proves Reform Need

From CNBC’s Squawk Box and The Hill:

Rep. Frank: Goldman charges improve chances for reg reform

By Michael O’Brien – 04/19/10

Civil charges against Wall Street giant Goldman Sachs strengthens lawmakers’ case for financial reform, Rep. Barney Frank (D-Mass.) said Monday.

Frank, the chairman of the House Financial Services Committee, said that allegations of fraud against Goldman which were leveled late last week bolsters the political case for reform legislation as it begins to make its way before the whole Senate.

"It does, although I thought they were pretty good anyway," Frank said when asked whether the charges improved the chances for financial reform’s passage during an appearance on CNBC.

"It reinforces the need for much of what we were doing," he said also during his appearance.

Frank said, though, that he believed the charges filed Friday by the Securities and Exchange Commission (SEC) weren’t timed with politics in mind in order to bolster the case for reform

No, of course not.

Never mind that this investigation was reportedly begun more than nine months ago. The administration just happened to announce it now.

It’s just the merest of coincidences.

This article was posted by Steve on Monday, April 19th, 2010. Comments are currently closed.

5 Responses to “Frank: Goldman Case Proves Reform Need”

  1. proreason says:

    And where does the illwustrious Barney Frank fall on the list of “Most Currupt Politicians of 2009”?



  2. Reality Bytes says:

    Ironic they would have Bahawny bite the hand that feeds them. Goldman’s MD’s were among the biggest advocates for the Dem leadership & Obama.

    “So…was it good faw u too? I wike to cawl u anutter time, whoakay?”

  3. TwilightZoned says:

    “It’s just the merest of coincidences.”

    I must agree, I don’t believe this was a coincidence. Further
    more, I don’t believe anything this administration and democrapic
    congress does is a coincidence. Everything happening is to
    “fundamentally transform America”. The question is how far does
    Barry and his ilk want it to transform? A dictatorship?

    • FCAFlyer says:

      That’s it, TZ. You’ve crossed the line. It’s the FEMA Camp for you for sure. Gulp, probably for me, too! :)

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