Republicans are Questioning SEC Indictment of Goldman Sachs

Politico has this: GOP is questioning Security and Exchange Commission charge against Goldman Sachs on Tuesday. Representative  Darrell Issa,(R-CA) has subpoena documents from SEC in meeting with the White House and Goldman. Rep. Issa says the timing the charges against Golden Sachs more than a coincidence raises “serious questions about the commission’s independence and impartiality.”

The letter address to SEC Chairwoman Mary Schapiro and co-signed by eight Republicans on Monday. Iassa asks if the SEC communicated with the White House, Members of Congress, and the Democrat National Committee.

“[W]e are concerned that politics have unduly influenced the decision and timing of the commission’s controversial enforcement action against Goldman,” Issa writes.

Issa implied that the timing was a bit too convenient, saying President Barack Obama’s push on Wall Street reform “neatly coincided with the commission’s announcement of the suit.”

The letter is also signed by Republican Reps. Jim Jordan of Ohio, Jason Chaffetz of Utah, Patrick McHenry of North Carolina, Dan Burton of Indiana, John Mica of Florida, Blaine Luetkemeyer of Missouri, Aaron Schock of Illinois and Anh “Joseph” Cao of Louisiana.

POLITICO has asked the SEC for comment, and will add it when it arrives.

White House press secretary Robert Gibbs dismissed the connection Issa was trying to make.

“The SEC doesn’t notify the White House of its enforcement actions and certainly didn’t do so in this case. … [I]t’s not as if the president began talking about financial reform sometime on Friday afternoon.”

And White House chief of staff Rahm Emanuel told Charlie Rose on Monday: “[E]verybody at the White House found out like everybody else, when it hit the news. … Nobody at the White House knew anything ahead of anybody else. … I think what’s more important is not this particular case or what SEC did. The need for this reform has existed for over a year.”

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