GOP SEC Appointees Voted Against Charges Against Goldman

Political fodder:

The U.S. Securities and Exchange Commission split 3-2 along party lines to approve an enforcement case against Goldman Sachs Group Inc., according to two people with knowledge of the vote. SEC Chairman Mary Schapiro sided with Democrats Luis Aguilar and Elisse Walter to approve the case, said the people, who declined to be identified because the vote wasn’t public. Republican commissioners Kathleen Casey and Troy Paredes voted against suing, the person said.

Political hay for Dems in this.

Speaking for me only

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    And Dems are SO good... (5.00 / 2) (#2)
    by Dadler on Mon Apr 19, 2010 at 04:39:18 PM EST
    ...at making that hay work for them.  Sigh.  Here's hoping the make SOMEthing with this, it's friggin' tee'd up for them.  

    Heh (none / 0) (#3)
    by Big Tent Democrat on Mon Apr 19, 2010 at 04:42:03 PM EST
    Well, I see your point but for gawdsakes, how can they mess this one up?

    How? I have no idea (5.00 / 1) (#8)
    by Dadler on Mon Apr 19, 2010 at 04:52:54 PM EST
    But they're really good at it.  For some reason, I'm reminded of the character Cyril (played by Daniel Stern) in the film, BREAKING AWAY.  Cyril says his father loves to be understanding when his son fails: that's okay, Cyril, I understand.  "The only reason he bought me that guitar is because he knew I'd never learn how to play it."

    Later, when discussing whether they should take a college entrance exam, he remarks "Maybe I'll take that exam, my dad's birthday's coming up."


    Love that movie (none / 0) (#11)
    by Big Tent Democrat on Mon Apr 19, 2010 at 05:02:05 PM EST
    One of my favorites also. (none / 0) (#14)
    by sarcastic unnamed one on Mon Apr 19, 2010 at 05:17:02 PM EST
    I went to Clarkson U in (way) upstate NY, back in the day. Cutters and college kids made up the town's social structure.

    Brings back memories...


    How is this for prescient dialogue (none / 0) (#15)
    by oculus on Mon Apr 19, 2010 at 05:23:23 PM EST
    in 1979:  

    Mike's Brother: How are you fellas doing?
    Cyril: Well, we're a little disturbed by developments in the Middle East, but...

    "All I know... (none / 0) (#17)
    by Dadler on Mon Apr 19, 2010 at 05:40:02 PM EST
    ...is they wore Brut aftershave and reeked of Lavoris."

    And we're still afraid of them.


    With the Dems, (5.00 / 1) (#18)
    by Zorba on Mon Apr 19, 2010 at 06:14:39 PM EST
    anything is possible.  I'm constantly reminded of former Israeli politician Abba Eban's quote about the Arabs, that they "never miss an opportunity to miss an opportunity" (said after the 1973 Geneva Peace Conference).  The same could be said about the Democrats.

    Chuck and Bob (none / 0) (#4)
    by andgarden on Mon Apr 19, 2010 at 04:47:09 PM EST
    might encourage members to tread lightly.

    Tough sh*t (none / 0) (#5)
    by Big Tent Democrat on Mon Apr 19, 2010 at 04:48:22 PM EST
    There is an election in November.

    That's exactly what they would be thinking (none / 0) (#12)
    by andgarden on Mon Apr 19, 2010 at 05:06:35 PM EST
    Actually, they're not stupid, so they won't. But you could imagine pols putting fundraising over the story of the moment.

    Well (5.00 / 2) (#13)
    by Big Tent Democrat on Mon Apr 19, 2010 at 05:11:17 PM EST
    "If you can't take their money, drink their whiskey and vote against `em anyway, you don't belong in politics."

    heh, yup (none / 0) (#16)
    by andgarden on Mon Apr 19, 2010 at 05:25:52 PM EST
    Love that quote.

    heh (none / 0) (#1)
    by andgarden on Mon Apr 19, 2010 at 04:34:08 PM EST

    WSJ editorial/blog isn't buying it (none / 0) (#6)
    by BTAL on Mon Apr 19, 2010 at 04:50:23 PM EST
    I'm shocked! Shocked! (none / 0) (#10)
    by Big Tent Democrat on Mon Apr 19, 2010 at 05:01:14 PM EST
    That the WSJ editorial page is not buying it!

    The GOP should run with that one.


    And Tomorrow (none / 0) (#7)
    by The Maven on Mon Apr 19, 2010 at 04:52:09 PM EST
    SEC Chair Mary Schapiro is scheduled to appear before Rep. Barney Frank's Financial Services Committee regarding "Public Policy Issues Raised by the Report of the Lehman Bankruptcy Examiner".  Even with Geithner and Bernanke on the same panel, Schapiro may steal the spotlight, especially if the committee veers somewhat off course.  (Meanwhile, former Lehman CEO Dick Fuld is preparing to deny any recollection of the Repo 105 transactions, but that's another topic entirely.)

    Tomorrow also brings Goldman's quarterly earnings announcement and conferernce call with analysts, to which the company's General Counsel has very prominently been added.  Now that could turn into a free-for-all, though it's probably much more likely that it will be filled with repeated instances of variants of "We can't comment on ongoing or potential litigation."

    Heh (5.00 / 1) (#9)
    by Big Tent Democrat on Mon Apr 19, 2010 at 05:00:17 PM EST
    Aside, keep your head low. People are a-holes.

    GS stock up 2% on the news (none / 0) (#19)
    by abdiel on Mon Apr 19, 2010 at 06:53:51 PM EST
    Who do you think leaked the vote breakdown, the winners or the losers?

    "defense site" (none / 0) (#20)
    by diogenes on Mon Apr 19, 2010 at 08:59:38 PM EST
    I would think that this site will emphasize the nature of the defense in this case (as well as how soft it in fact is).
    If the SEC loses this very soft case, then the political hay will be how the Obama SEC is incompetent.
    Even the NY Times describes this case as relying on a "novel" legal theory, at best.

    Cheating is (none / 0) (#21)
    by gyrfalcon on Mon Apr 19, 2010 at 09:14:37 PM EST
    a "novel legal theory"?  My goodness, I will never understand the law.